Opens Multi-Billion Market Opportunity for the Company
First Order for 100 Units Received
FORT MILL, S.C., May 27, 2025 (GLOBE NEWSWIRE) -- Catheter Precision, Inc. (NYSE:VTAK), a US based medical device company focused on developing technologically advanced products for the cardiac electrophysiology market announced that it has received CE Mark approval for LockeT, the latest advanced vascular closure device.
Receipt of the CE Mark indicates compliance with European Union (EU) regulations, specifically health, safety, and environmental protection standards. With this approval, LockeT is now eligible to be placed in markets within the EU and additional countries such as the UK, Switzerland and Turkey.
According to Market Data Forecast, The European Vascular Closure Devices Market in Europe was worth $3.1 billion in 2024 and is predicted to be worth $4.3 billion by 2028, growing at a CAGR of 7% from 2023 to 2028.
Marie-Claude Jacques, Chief Commercialization Officer of Catheter Precision, stated, "We are very excited by the news of the receipt of our CE Mark. This expands the footprint for new LockeT sales. In anticipation of the CE Mark, we have been engaged in discussion with multiple strong distribution partners to market LockeT within the new countries which the CE Mark has opened for us, have received positive feedback, confirmed interest from many potential LockeT users both in Interventional Cardiology and Electrophysiology and have already received our first order from the EU."
David Jenkins, CEO of VTAK, further commented, "This is exciting news for our company. We are continuing to execute our strategy of selling innovating cost-effective solutions into the cardiac marketplace. As European approvals are becoming increasingly difficult to obtain, we are proud of our team for achieving this milestone. European hospitals are an ideal market for our closure device, which provides economic advantages compared to other products on the market. And at the forefront, LockeT is easy to deploy, comfortable for the patient, and intuitive for recovery nursing. We are pleased to have this approval and eager to get launched in Europe."
About LockeT
Catheter Precision's LockeT is a suture retention device intended to assist in wound closure after percutaneous venous punctures. LockeT is a Class 1 device registered with the FDA and has received CE Mark approval.
About Catheter Precision
Catheter Precision is an innovative U.S.-based medical device company bringing new solutions to market to improve the treatment of cardiac arrhythmias. It is focused on developing groundbreaking technology for electrophysiology procedures by collaborating with physicians and continuously advancing its products.
Cautionary Note Regarding Forward-Looking Statements
Statements in this press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to substantial risk and uncertainties. Forward-looking statements can be identified by words such as "believe," "anticipate," "may," "might," "can," "could," "continue," "depends," "expect," "expand," "forecast," "intend," "predict," "plan," "rely," "should," "will," "may," "seek," or the negative of these terms and other similar expressions, although not all forward-looking statements contain these words. These forward-looking statements include, but are not limited to, statements regarding product evaluations at the hospital, and that the purchase order indicates that the hospital and its staff see the value and benefits that LockeT can bring and expectations regarding LockeT evaluations in the coming weeks. The Company's expectations and beliefs regarding these matters may not materialize. Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of uncertainties, risks and changes in circumstances, including but not limited to risks and uncertainties included under the caption "Risk Factors" in the Company's Form 10-K filed with the SEC and available at www.sec.gov.
The forward-looking statements included in this communication are made only as of the date hereof. The Company assumes no obligation and does not intend to update these forward-looking statements, except as required by law.
CONTACTS:
At the Company
David Jenkins
973-691-2000
[email protected]
