PLEASANTON, Calif., Jan. 29, 2018 /PRNewswire/ -- QT Vascular Ltd., (the "Company" or "QT Vascular", and together with its subsidiaries, the "Group"), is a global company engaged in the design, assembly and distribution of advanced therapeutic solutions for the minimally invasive treatment of vascular disease. Further to the Company's
In February 2017, QT Vascular signed an exclusive, worldwide distribution agreement with Medtronic to distribute the Chocolate PTA balloon catheter. It is currently commercially available by Medtronic in the United States and Europe.
"Through our distribution agreement with QT Vascular, we have seen a lot of excitement from physicians about this unique, specialty balloon," said Mark Pacyna, vice president and general manager of the Peripheral business in the Medtronic Cardiac & Vascular Group. "The acquisition of the ChocolateŽ PTA balloon will strengthen our portfolio, providing customers with a both a stand-alone and adjunctive treatment option for peripheral artery disease above and below the knee."
Independently, QT Vascular will continue to develop and market its other products including a drug coated version of ChocolateŽ PTA (Chocolate TouchŽ), which has received Investigational Device Exemption approval from the U.S. Food and Drug Administration and its coronary products portfolio of both drug and non-drug coated products.
"We are very pleased with the completion of the sale of our non-drug coated peripheral product, the ChocolateŽ PTA balloon catheter, to Medtronic, the world's leading medical device company," stated Eitan Konstantino, PhD, CEO of QT Vascular. "This is a validation of the intrinsic value of our internally developed products. QT Vascular will continue to focus on achieving milestones related to our coronary and drug coated product portfolio."
View original content:http://www.prnewswire.com/news-releases/medtronic-completes-the-purchase-of-qt-vasculars-chocolate-pta-balloon-catheter-300589868.html
SOURCE QT Vascular Ltd.
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