AtriCure, Inc. (Nasdaq: ATRC) and Century Medical, Inc. (CMI) of Japan
announce the extension and expansion of their multi-year agreement in
which CMI will distribute AtriCure’s surgical ablation technologies to
hospitals in Japan. AtriCure is a medical device company and leader in
cardiac surgical ablation systems for the treatment of Afib and systems
for the exclusion of the left atrial appendage.
The new agreement provides CMI with exclusive rights to market the
AtriCure product lines, including future sales of the AtriClip Left
Atrial Appendage Exclusion System once formal approval processes are
completed by CMI. The AtriClip is one of the fastest growing segments of
the overall AtriCure portfolio worldwide. This agreement marks the first
time the products will be available in Japan.
“We are very excited about solidifying and expanding a long-term
relationship with a team so talented, experienced and knowledgeable in
our products,” said Michael Carrel, President and CEO of AtriCure. “This
agreement sets a strong foundation in the Japanese market for many years
to come.”
According to the agreement, CMI will be the exclusive distributor of
AtriCure devices for Japan until 2019, with minimum revenue commitments
set forth over the next three years.
“We’re pleased to continue our partnership with AtriCure, and provide
the people of Japan life-changing treatment tools for use in soft tissue
ablation. With the opportunity to use AtriCure devices increasing in
Japan, our partnership has the potential to benefit hundreds of
thousands of people,” said Akira Hoshino, president and CEO of CMI.
About Century Medical
Century
Medical, Inc. (CMI) is a wholly owned subsidiary of Itochu Corporation
(“ITOCY”-OTCYMKTS) and one of the largest Japanese general trading
companies with $125 billion in annual trading transactions. CMI has more
than 300 employees, offices in seven major cities in Japan and 39 years’
experience marketing medical devices in Japan. CMI has been a pioneering
force successfully introducing many new technologies to the Japanese
healthcare community and has built a dedicated team of 40 sales and
marketing people to serve the Japanese cardiovascular surgery community.
About AtriCure, Inc.
AtriCure,
Inc. is a medical device company providing innovative atrial
fibrillation (Afib) solutions designed to produce superior outcomes that
reduce the economic and social burden of atrial fibrillation. AtriCure's
Synergy Ablation System is the first and only device approved for the
treatment of Persistent and Longstanding Persistent forms of Afib in
patients undergoing certain open concomitant procedures. AtriCure's
AtriClip Left Atrial Appendage (LAA) exclusion device is the most widely
implanted device for LAA management worldwide. The company believes
cardiothoracic surgeons are adopting its ablation and LAA management
devices for the treatment of Afib and reduction of Afib related
complications such as stroke. Afib affects more than 5.5 million people
worldwide.
Forward-Looking Statements
This
press release contains “forward-looking statements” within the meaning
of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements include statements that address activities, events or
developments that AtriCure expects, believes or anticipates will or may
occur in the future, such as earnings estimates, other predictions of
financial performance, launches by AtriCure of new products and market
acceptance of AtriCure’s products. Forward-looking statements are based
on AtriCure’s experience and perception of current conditions, trends,
expected future developments and other factors it believes are
appropriate under the circumstances and are subject to numerous risks
and uncertainties, many of which are beyond AtriCure’s control. These
risks and uncertainties include the rate and degree of market acceptance
of AtriCure’s products, AtriCure’s ability to develop and market new and
enhanced products, the timing of and ability to obtain and maintain
regulatory clearances and approvals for its products, the timing of and
ability to obtain reimbursement of procedures utilizing AtriCure’s
products, competition from existing and new products and procedures or
AtriCure’s ability to effectively react to other risks and uncertainties
described from time to time in AtriCure’s SEC filings, such as
fluctuation of quarterly financial results, reliance on third party
manufacturers and suppliers, litigation or other proceedings, government
regulation and stock price volatility. AtriCure does not guarantee any
forward-looking statement, and actual results may differ materially from
those projected. AtriCure undertakes no obligation to publicly update
any forward-looking statement, whether as a result of new information,
future events or otherwise.
Copyright Business Wire 2013