MOUNTAIN VIEW, Calif., June 16 Cardiva Medical, Inc., aprivately held medical device company and developer of the BoomerangCatalyst(TM) System announces that it will present the initial market resultsof the Boomerang Catalyst(TM) II System and completion of its US sales forceexpansion on June 18 at 3:20pm at the Medtech Insight/Windhover Information's"Investment In Innovation (In3) Medical Device Summit" medical technologyinvestment and partnering conference held at The Palace Hotel in SanFrancisco, CA.
The Boomerang Catalyst II System is Cardiva's second-generation vascularclosure device that employs proprietary hemostatic coatings to acceleratehemostasis in the cardiac catheterization lab following endovascularprocedures. This unique technology leaves absolutely nothing behind in thepatient, thereby eliminating a major source of complications.
In April 2008, Cardiva Medical, Inc. completed a $15.5 million privateequity financing. With the financing proceeds, Cardiva has aggressivelyrecruited and completed the expansion of its direct sales forces in the US to72 professionals including 21 territory managers, 36 clinical educators, and15 sales managers.
"Since the product launch of the Boomerang Catalyst II System about sixmonths ago, we have received very positive feedback from physicians, andexperienced rapid adoption of the Boomerang Catalyst II technology in thecardiac catheterization labs across the country," commented Augustine Y. Lien,Chairman and CEO. "With the infusion of more than $15 million from our recentequity financing, we have successfully doubled our direct sales force in thepast two months, allowing Cardiva to establish a visible presence in all themajor metropolitan areas in the US and enabling greater access to the vastopportunity in the vascular access closure market."
About Cardiva Medical, Inc.
Founded in July 2002, and headquartered in Mountain View, Calif., CardivaMedical, Inc. is a privately held medical company focused on developing andcommercializing devices which close the vascular access site with unsurpassedsafety and ease-of-use. Cardiva's first product, the Boomerang Wire System,was approved in EU countries and in the US in 2004. Cardiva'ssecond-generation product, the Boomerang Catalyst System, was approved inMarch 2007 and launched in July 2007. The enhanced Boomerang Catalyst, tradenamed as "Boomerang Catalyst II System" received 510(K) clearance in September2007 and launched in January 2008. Cardiva was selected by Frost & Sullivan asthe recipient of the 2006 Frost & Sullivan Award for Entrepreneurial Companyin the U.S. angioplasty and vascular closure devices market. For additionalinformation about Cardiva Medical, Inc. see our website athttp://www.cardivamedical.com.
Cardiva, Boomerang and Boomerang Catalyst System are trademarks/registeredtrademarks of Cardiva Medical, Inc.Media Contact: Glenn Foy, President Cardiva Medical, Inc. Phone: 650.964.8900, x 215 Fax: 650.964.8911 [email protected]
SOURCE Cardiva Medical, Inc.