Healthcare Industry News: Cardica
News Release - April 21, 2008
Cardica's C-Port Anastomosis Systems Facilitate Beating Heart Bypass Surgery in StudyBeating Heart Bypass Surgery Performed at Significantly Reduced Cost at Genesis Medical Center
New Study Shows Greater than $1,650 Savings Per Procedure as Compared to On-Pump Procedures
REDWOOD CITY, Calif., April 21 (HSMN NewsFeed) -- Cardica, Inc. (Nasdaq: CRDC ) and Genesis Medical Center today reported results from a six-month economic analysis comparing the cost of off-pump, "beating heart" coronary artery bypass graft (CABG) procedures, which were performed using the C-PortŪ Distal Anastomosis Systems, with the cost of traditional on-pump CABG surgery. The study showed that beating heart CABG saved $1,684 per procedure, inclusive of the cost of the C-Port systems in the beating heart cases, compared to traditional bypass surgery.
"Importantly, with the C-Port systems we can reliably connect the graft vessels without stopping the heart, which improves patient outcomes, reduces costs and increases the pool of patients eligible for bypass surgery," said Dr. Nicholas Augelli, cardiovascular surgeon at Genesis Medical Center. "Before this study, the vast majority of CABG procedures at Genesis were performed on-pump. We have dramatically changed our practice after this study due to both the significant benefits to patients and reduced costs of beating heart CABG surgeries, and we are able to perform more beating heart procedures by using the C-Port system."
Genesis Medical Center in Davenport, Iowa conducted an economic analysis from July 1, 2007 to December 31, 2007 to evaluate the cost of traditional on-pump to off-pump CABG procedures using the C-Port systems and other ancillary products to enable off-pump CABG. Drs. Nicholas Augelli and Robert Fietsam performed 78 off-pump procedures during the study, for a total savings of $131,352. In addition to an approximate operating room (OR) time savings of two hours with beating heart surgery, the study showed that the cost of beating heart procedures, which included the cost of the C-Port systems, were $14,905 versus $16,589 for on-pump, "arrested heart" surgery without the use of the C-Port systems. The average cost savings for beating heart procedures with the use of the C-Port systems was $1,684 over traditional bypass surgery without the C-Port system.
"This cost analysis coupled with our excellent patency results exemplifies the value of our C-Port systems to the patient, the physician and the hospital," said Bernard A. Hausen, M.D., Ph.D., president and chief executive officer of Cardica, Inc. "We believe the C-Port systems, which facilitate less invasive bypass procedures like beating heart CABG, have the potential to revolutionize the field of cardiothoracic surgery in the same way the sewing machine automated hand-stitching."
About the C-Port Anastomosis Systems
Cardica's C-Port systems are designed to enable automated, reliable and reproducible connections of blood vessels during CABG surgery. Unlike most hand-sewn anastomoses, Cardica's C-Port systems create compliant anastomoses that can expand and contract with blood flow. In addition, the C-Port systems, whether used during on- or off- pump surgery, offer surgeons unique access to a wide range of coronary arteries, particularly small coronary arteries on which, in the past, CABG procedures have been very difficult or impossible to perform.
About Cardica, Inc.
Cardica is a leading provider of automated anastomosis systems for coronary artery bypass graft (CABG) surgery. By replacing hand-sewn sutures with easy-to-use automated systems, Cardica's products provide cardiovascular surgeons with rapid, reliable and consistently reproducible anastomoses, or connections of blood vessels, often considered the most critical aspect of the CABG procedure. Cardica's C-Port systems are marketed in Europe and the United States. The PAS-PortŪ Proximal Anastomosis System is marketed in Europe and Japan and is being evaluated currently in a pivotal trial in the United States and Europe. Cardica also is developing additional devices with Cook Medical to facilitate vascular closure and other surgical procedures.
This press release contains forward-looking statements, including, without limitation, statements related to the potential cost savings and improved patient outcomes from future use of C-Port systems and the potential of C-Port systems in the field of cardiothoracic surgery. The words "believe," "will" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Cardica's current expectations. Forward-looking statements involve risks and uncertainties. Cardica's actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks associated with the long-term patency of graft vessels connected using the C-Port systems, market acceptance of Cardica's C-Port systems, manufacturing of the C-Port systems and its suppliers, Cardica's sales, marketing and distribution strategy and capabilities. These and other risk factors are discussed under "Risk Factors" in Cardica's Quarterly Report on Form 10-Q for the fiscal quarter ended December 31, 2007. Cardica expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein. You are encouraged to read the Company's reports filed with the U.S. Securities and Exchange Commission, available at http://www.sec.gov.
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