Healthcare Industry News: Surgical Ablation
News Release - May 29, 2008
Cardima Announces New Strategic Distribution Relationship With Dot Medical Ltd. for UK Electrophysiology MarketFREMONT, CA--(Healthcare Sales & Marketing Network)--May 29, 2008 -- Cardima, Inc. (OTC BB:CADM.OB ) has announced a new strategic marketing relationship with Dot Medical Ltd., a United Kingdom (UK) distributor specializing in sales and customer training and support for Cardiac Devices. Dot Medical is the leading independent UK distributor for medical devices used to treat cardiac arrhythmias. Dot Medical supports and trains Electrophysiologists in the UK, both in the National Healthcare System (NHS) and private hospitals. Dot's staff is composed of both sales and clinical training specialists who directly support Cardiac Cath Labs, assisting Electrophysiologist with procedures, and providing solutions for patient care. The UK, like other European countries, faces difficulties in effectively treating large number of patients with Atrial Fibrillation (AF) due to the length of time and complexity of current procedures. The Cardima EP Ablation System, which incorporates the REVELATION® T-Flex and the INTELLITEMP®, will assist in meeting the needs of patients with AF and physicians who treat them.
In commenting on this newly signed distribution relationship, Cardima's CEO, Mr. Robert Cheney, stated, "Dot Medical was selected for their experience gained over 10-years in supporting Electrophysiologists in the UK and is currently a trusted supplier to our customers in this market. Their reputation for providing innovative solutions in the area of Arrhythmia treatment makes Dot Medical an ideal partner to represent and support Cardima's EP products. The UK will be the first market in Europe where Cardima will commercially launch its EP product line, including the Revelation T-Flex Ablation System for the treatment of Atrial Fibrillation."
Mr. Ian Rankin, Managing Director of Dot Medical, obtained his Honours degree in Biomedical Electronics in Manchester and went on to earn his PhD. Mr. Rankin commented on the new relationship with Cardima: "Dot Medical is almost exclusively focused on products for the treatment of cardiac arrhythmias. We are extremely pleased that Cardima, with its highly innovative ablation and diagnostic products, has selected us to be their exclusive UK distributor. We have started a limited market release of the Cardima products in three major UK hospitals over the past year with excellent results. We, along with Cardima, now plan a significant joint market launch to roll-out all of the products across the UK during 2008 and 2009. Cardima's Revelation T-Flex and Intellitemp platform offer a faster, safer and very effective treatment option for Atrial Fibrillation. In addition, Cardima's diagnostic microcatheters are the thinnest and best in the world; which is extremely important when treating difficult to access areas of the coronary vasculature of the heart. The synergy between our two companies will make for a great partnership! Cardima's products are highly unique and offer benefits to patients and physicians alike that are important for public health here in the UK."
Dot Medical has its head office in Macclesfield, near Manchester, in the center of the UK (approximately 2 hours from London and three hours from Glasgow and Edinburgh). Dot Medical's staff covers and supports all EP centers in the UK.
Mr. Tony Shum, Chairman of Cardima, said that Cardima's alliance with Dot Medical constitutes the official commercial launch of the company's EP products in Europe. "The Dot Medical sales and clinical professionals have developed strong relationships in the EP community and built tremendous trust with physicians over the past 10 years. It is a strong endorsement of the Cardima EP product line that Dot Medical has agreed to introduce our products to their extensive physician customer base. The experience we gain from our product launch in the UK will allow us to expand quickly into other European markets and to later launch our Surgical Ablation System into these same markets."
Cardima, Inc. has developed the PATHFINDER® and REVELATION® Series of diagnostic catheters, the INTELLITEMP® Energy Management Device, and the Surgical Ablation System (SAS). All of these devices are CE marked and received U.S. FDA 510(k) clearance. The REVELATION® Series of ablation catheters with the INTELLITEMP® EP Energy Management Device was developed and marketed for the treatment of atrial fibrillation (AF) after receiving CE mark approval in Europe; it is not currently available in the U.S.
For more information, please visit the Company's website at www.cardima.com.
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by such forward-looking statements. Potential risks and uncertainties include: the uncertainties associated with the prospects for FDA approval of any new devices; the prospect for any future clinical trials or regulatory activities; the risk that the Company will not be able to raise additional capital in the immediate term as needed to continue operations and the risk that we will be unable to secure a strategic transaction involving the Surgical Ablation System. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2006, the Company's Quarterly Report on Form 10-QSB for the third quarter ended September 30, 2007, and in the Company's subsequent SEC filings. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
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