Argon Medical Devices Announces Exclusive License and distribution agreement for Option™ Retrievable Inferior Vena Cava Filter
ATHENS, TX, March 8, 2011 – Argon Medical Devices, Inc. announced today that it has entered into a definitive license agreement with Rex Medical, LP(“Rex Medical”) for exclusive global rights to market and distribute the Option™ Retrievable Vena Cava Filter, an implantable device used in the prevention of Pulmonary Embolism (PE).
“We are very pleased with the addition of Option™ to our product portfolio. This proven technology has rapidly become a leader in this disease segment due both to its efficacy and safety, and we are confident it will prove to be the preferred device of its kind,” said George A. Leondis, President of Argon Medical Devices, Inc. “This partnership provides a compelling strategic opportunity for Argon, allowing us to provide our customers with another best in class product in the Interventional arena.”
“Rex Medical is looking forward to again collaborating with Argon, on this innovative and pivotal technology,” commented Lindsay L. Carter, President of Rex Medical, LP. “Argon’s focused commitment to its customer base, coupled with its global sales and marketing presence and corresponding operational capabilities, make it the ideal partner.”
Argon will be exhibiting at the 36th Annual Society of Interventional Radiology (SIR) Scientific Meeting, to be held in Chicago, IL from March 27-30, 2011.
About the Option™Inferior Vena Cava Filter
The nitinol, Option™IVC Filter, with a low profile 5Fr (6.5Fr O.D.) delivery system, is designed to be implanted into the inferior vena cava of patients to prevent recurrent PE. The filter is designed with symmetric flared struts to direct clot volume into the center of the vessel for maximum dissolution and preservation of blood flow allowing for capture of clinically significant clot and protection against PE. Designed as both a permanent or retrievable implant, this self-centering IVC filter promotes optimal positioning and stability within the inferior vena cava. Its intuitive, easy-to-use design, makes Option’s™ deployment and retrieval safe and effective.
About Pulmonary Embolism (PE)
PE is an extremely common and highly lethal condition that is a leading cause of death in all age groups. PE is the sudden blocking of an artery of the lung (pulmonary artery) by a collection of solid material transferred through the bloodstream (embolus)—usually a blood clot (thrombus) or rarely other foreign material. PE occurs when these clots break loose and embolize to block pulmonary blood vessels in the lungs. PE affects an estimated 600,000 to 1,000,000 people in the US, and its incidence is increasing annually due mainly to the aging population. According to clinical research, if left untreated, PE has a mortality rate of 30% and is a leading cause of in-patient deaths in U.S. hospitals. Emboli dislodgement can be caused by peripheral vascular disease (PVD), severe deep vein thrombosis (DVT), trauma and, prolonged immobilization often following major surgical procedures.
Argon Medical Devices, Inc., based in Athens, TX, is a privately-held global medical device company which manufactures and markets solutions for cardiovascular, venous access and critical care procedures. The current product portfolio includes Cleaner™RotationalThrombectomy System, JAWZ™Myocardial Biopsy Forceps, and the soon to be released, UltraStream™Chronic Dialysis Catheter. Argon is a portfolio company of Roundtable Healthcare Partners.
RoundTable Healthcare Partners, based in Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the health-care industry. The partners of RoundTable have significant experience in managing, operating, acquiring and financing multibillion-dollar diversified health-care companies. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise.