Catheter Precision, Inc. Announces Initial LockeT Purchase From the University of Tennessee Medical Center

Rhea-AI Summary

Catheter Precision (NYSE American:VTAK) has received its first purchase order for LockeT from the southeast region, specifically from The University of Tennessee Medical Center in Knoxville. This development marks the beginning of 2025 and follows the company's recent expansion of its US sales and clinical team for LockeT's national product launch.

The University of Tennessee Medical Center, a 710-bed facility, serves as the region's academic medical center, Magnet® recognized hospital, and Level I Trauma Center. It functions as a major referral center for East Tennessee, Southeast Kentucky, and Western North Carolina, and houses the region's only dedicated Heart Hospital.

Positive

• Secured first LockeT purchase order from a major academic medical center
• Successfully expanding into new territories following sales strategy implementation

Negative

• None.

News Market Reaction

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On the day this news was published, VTAK declined 17.46%, reflecting a significant negative market reaction.

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FORT MILL, SC / ACCESSWIRE / January 13, 2025 / Catheter Precision, Inc. (NYSE American:VTAK), a U.S.-based innovative medical device company focused on electrophysiology products, today announced it has received its first purchase order for LockeT from the southeast region.

As previously announced, the company has recently expanded its US sales and clinical team in preparation for the national product launch of LockeT.

This purchase order comes from The University of Tennessee Medical Center in Knoxville, Tennessee. As the region's academic medical center, Magnet® recognized hospital and Level I Trauma Center, The University of Tennessee Medical Center serves as a major referral center for East Tennessee, Southeast Kentucky and Western North Carolina. The 710-bed hospital also is home of the region's only dedicated Heart Hospital.

Marie-Claude Jacques, Chief Commercial Officer, said "We are excited to start 2025 with a purchase order from a new facility, especially one as prestigious as the University of Tennessee Medical Center. We continue to see growth and usage in new territories throughout the US further indicating successful implementation of our sales strategy."

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.

About LockeT

Catheter Precision's LockeT is a suture retention device intended to assist in hemostasis after percutaneous venous punctures. LockeT is a Class 1 device registered with the FDA.

Additional Information

This release and all other releases from Catheter Precision, Inc. are limited in their entirety by other information filed with the SEC including, but not limited to, our latest 10-K, 10-Q's, and 8-K's, and should be read in conjunction with those filings.

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. 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.

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
IR@catheterprecision.com

# # #

Contact Information

Missiaen Huck
COO
mhuck@catheterprecision.com
9736912000

SOURCE: Catheter Precision, Inc.

View the original press release on accesswire.com

FAQ

What is the significance of VTAK's first LockeT purchase order from University of Tennessee Medical Center?

The purchase order represents VTAK's successful expansion into the southeast region and validates their sales strategy, particularly significant as it comes from a prestigious 710-bed academic medical center.

When did VTAK receive its first LockeT purchase order from the southeast region?

Catheter Precision received its first LockeT purchase order from the southeast region in January 2025.

Which healthcare facility placed the first LockeT order in the southeast region for VTAK?

The University of Tennessee Medical Center in Knoxville, Tennessee, placed the first LockeT order in the southeast region.

How does this LockeT purchase align with VTAK's expansion strategy?

The purchase aligns with VTAK's recent expansion of its US sales and clinical team for LockeT's national product launch, demonstrating successful implementation of their sales strategy in new territories.