Healthcare Industry News: intravascular temperature management
News Release - March 24, 2008
Alsius Corporation Receives Regulatory Approval in China and MexicoIRVINE, Calif., March 24 (HSMN NewsFeed) -- Alsius Corporation (Nasdaq: ALUS ), the worldwide leader in intravascular patient temperature management therapies, has received approval from regulatory authorities in China and Mexico to market its intravascular temperature management (IVTM(TM)) systems and catheters in those countries. Alsius IVTM(TM) provides cooling and warming therapy via a computer-controlled temperature regulation system that connects to Alsius' proprietary heat exchange catheters.
"Although we are still at the very early stages of development in Asia and Latin America, we are excited about introducing the first intravascular temperature management product in China and Mexico and hope to leverage this advantage to grow those markets," said Bill Worthen, President and CEO of Alsius. "Alsius continues to make progress in growing the international market for its 'inside-out' approach to therapeutic temperature management."
Last year, Alsius hired a sales manager to oversee growth of the Asia-Pacific region. The company currently has regulatory approval in Thailand, South Korea, Australia, Taiwan and Malaysia. Additionally, there is an application in process in Japan, and the company has initiated the regulatory approval process in several other countries.
Alsius' IVTM(TM) consists of the CoolGard 3000, Thermogard and Thermogard XP systems and a family of single-use catheters, including the Icy, Fortius and Quattro catheters. The catheters are inserted into a major vein through a patient's neck or groin, and circulate cool or warm saline in a closed-loop through balloons that surround the catheters. This approach decreases or increases core temperature from the inside of the body out toward the exterior, allowing for significantly more rapid control of a patient's core body temperature, with greater efficiency and precision, compared to conventional external temperature management products such as cooling and warming blankets and ice packs.
Alsius, headquartered in Irvine, CA, is a medical device company that develops, manufactures and sells proprietary products to precisely control patient temperature in hospital critical care settings. Controlling body temperature, through cooling and warming, is becoming the standard of care for patients in select critical conditions and those undergoing a variety of surgical procedures. Alsius markets a comprehensive suite of catheter-based intravascular temperature management products that address the need for effective, accurate, easy-to-use and cost-effective control of body temperature in critical care patients. For more information, visit http://www.alsius.com.
This press release may contain statements regarding plans and expectations for the future that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking. Such forward looking statements, based upon the current beliefs and expectations of Alsius' management, are subject to risks and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. The information set forth herein should be read in light of such risks. Additional information concerning such risks and uncertainties are contained in Alsius' filings with the Securities and Exchange Commission, which can be accessed electronically on the Securities and Exchange Commission website at http://www.sec.gov.
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