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Catheter Precision Inc. (NYSEAMERICAN: VTAK), based in the United States that specializes in developing innovative solutions for the treatment of cardiac arrhythmias. They collaborate with physicians to create cutting-edge technology for electrophysiology procedures. One of their notable products is the VIVO™ (View into Ventricular Onset) 3D mapping system.
The VIVO™ 3D mapping system is designed to provide a cost-effective solution for improving the treatment of cardiac arrhythmias. It aims to reduce procedure costs and enhance patient outcomes while making a significant impact on the industry. The system is known for its high accuracy, with a reported 99.5% precision in detecting ventricular dysrhythmias, which are critical for effective treatment. Additionally, the implementation of VIVO™ has been shown to substantially reduce procedure times, with reductions ranging from 75% to 84% in the electrophysiology lab.
A significant development for Catheter Precision Inc. occurred on October 12 when the company announced that its VIVO™ 3D mapping system had received national reimbursement in the United Kingdom. This was achieved through its inclusion in the High-Cost Tariff Excluded Devices (HCTED) system, which is operated by the National Health Service England (NHS England). This inclusion allows hospitals to directly bill the cost of single-use products to the NHS. This recognition is expected to facilitate the broader adoption of VIVO™ technology in the UK and improve market access for the product.
In addition to its success in the UK, Catheter Precision Inc. expanded its reach by entering a distribution partnership with Somnotec (S) Pte Ltd., a medical device distributor based in Singapore. Through this partnership, Somnotec is responsible for distributing Catheter Precision’s LockeT closure device in several Asian countries, including Malaysia, Singapore, Brunei, Indonesia, and the Philippines.
Overall, Catheter Precision Inc. appears to be actively working to improve the treatment of cardiac arrhythmias through innovative medical devices and strategic partnerships, with a focus on both technological advancement and expanding its market presence.
LumiraDx Limited (NASDAQ: LMDX) Strategic Partnership with AstraZeneca PLC (NASDAQ: AZN) and Everton to Establish Pioneering Heart and Lung Screening Hub in England Drives 214% Stock Surge” “Community-Based Hub to Offer Advanced Diagnostics and Early Treatment for Chronic Breathlessness”
The new-age point-of-care diagnostics company made a key announcement on October 20. LumiraDx Limited revealed that it had entered into a strategic partnership with AstraZeneca and Everton in the Community to set up the first community-based heart and lung screening hub in England. The company noted that the hub would become operational in November.
Everton Football Club’s official charity would be responsible for running the hub. The hub would provide the community in Merseyside access to the most advanced technologies as well as specialist insights from a varied team made up of lung, heart, and primary care specialists. The focus would be on the early diagnosis and treatment of chronic breathlessness among people in a walk-in setting.
The hub would also be responsible for raising awareness about the medical conditions that lead to the onset of breathlessness and providing screenings for heart failure, COPD (chronic obstructive pulmonary disease), and other chronic conditions common in the local community. The stock clocked gains of 214% on October 23.
Akumin Inc. (NASDAQ: AKU) Surges 145% Following Transformation into a Privately Held Entity in Partnership with Stonepeak” “Strategic Move Aims to Strengthen Balance Sheet and Ensure Long-term Success”
On October 23, the company’s stock was one of the more notable gainers as it rallied by 145%. On October 20, Akumin Inc. announced that it had reached an agreement with Stonepeak to turn into a privately held entity. Stonepeak is a leader in the alternative investment space and specializes in real assets and infrastructure.
The company’s shareholders okayed the move as well, since the eventual financial restructuring would boost Akumin’s balance sheet and also provide considerable liquidity so as to help the company be successful in the future. Once the transaction is completed, Akumin will no longer be a publicly listed firm.
In order to complete the transaction, the company and many of its subsidiaries would begin prepackaging Chapter 11 cases in the Southern District of Texas. In the news release, it was noted that the company’s operations would continue normally throughout the process.
Inpixon (NASDAQ: INPX) “Damon Motors and Inpixon Strike Deal for Reverse Merger, Unveil Grafiti Holding Inc. “Damon Motors Gears Up for HyperSport Electric Motorcycle Spinoff as Inpixon Adds Data Analytics Division to the Mix”
On October 23, it emerged that Damon Motors had signed a definitive agreement with the company with regards to a reverse merger. Damon Motors, which is best known for having developed the HyperSport electric motorcycle, also revealed that it had been proposed to have a spinoff entity of Inpixon named Grafiti Holding Inc.
The assets of Grafiti would be made up of Inpixon Ltd., a division of the company concerned with data analytics and statistical visualization solutions based in the United Kingdom. It was further noted in the news release that Damon had received funding to the tune of $70 million so far and managed to secure in excess of $85 million in consumer reservations for its motorcycles. Inpixon’s independent financial advisory firm pegged the enterprise value of Damon in the $224 million to $284 million range.
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