SINGAPORE, Dec. 20, 2016 /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. The Company is pleased to announce that TriReme Medical LLC ("TriReme Medical"), a subsidiary of the Company, has signed an agreement with Healthtrust Purchasing Group, L.P. ("HealthTrust"). This agreement, effective from 15 December 2016, establishes the terms under which HealthTrust members may acquire TriReme Medical's suite of specialty angioplasty balloons designed to treat vessel blockage due to arterial disease.
HealthTrust is committed to strengthening provider performance and clinical excellence through an aligned membership model and the delivery of total spend management advisory solutions that leverage our operator experience, scale and innovation. Headquartered in Nashville, Tennessee, HealthTrust serves over 1,400 acute care facilities and members in more than 22,600 other locations, including ambulatory surgery centers, physician practices, long-term care and alternate care sites.
The Chocolate® balloon platform represents a breakthrough in the minimally invasive treatment of percutaneous transluminal angioplasty (PTA and PTCA). The Chocolate® balloon platform is designed to have distinctive pillows and grooves. The purpose of the design is to deliver controlled dilatation while minimizing vessel wall trauma for predictable angioplasty results. The unique platform provides physicians with an impressive tool in managing patients with peripheral or coronary disease.
The entry into the agreement with HealthTrust is not expected to have any material effect on the loss per share and net tangible liabilities per share of the Group for the financial year ending 31 December 2016.
ABOUT QT VASCULAR LTD. (SGX Stock code: 5I0)
QT Vascular Ltd. together with its subsidiaries ("QT Vascular" or the "Group"), is an emerging leader in the development and commercialization of next generation minimally invasive products for the treatment of complex vascular disease. QT Vascular works closely with leading physicians and scientists from around the world to create differentiated devices that improve procedural and clinical outcomes.
QT Vascular is based in Singapore with a US subsidiary, TriReme Medical LLC ("TriReme Medical"), based in Pleasanton, California. TriReme Medical's range of percutaneous transluminal angioplasty ("PTA") and percutaneous transluminal coronary angioplasty ("PTCA") products include (i) Chocolate® PTA Balloon Catheter, (ii) Chocolate® PTCA Balloon Catheter, (iii) GliderXtreme™ PTA Balloon Catheter, (iv) GliderfleX® PTA Balloon Catheter and (v) Glider™ PTCA Balloon Catheter, all of which have the CE mark that allows them to be sold in Europe, and FDA clearance to be sold in the United States. Additionally, the GliderXtreme™ PTA Balloon Catheter has the regulatory clearance in China and Japan, while the Glider™ PTCA Balloon Catheter has the regulatory clearance in Japan. These products are sold by the Group's direct sales team and through its main distributors: (i) Cordis Corporation (a wholly-owned subsidiary of Cardinal Health, Inc.), (ii) Shandong Weigao Group Medical Polymer Co Ltd and (iii) Century Medical, Inc.
The Group's drug coated version of the Chocolate® PTA Balloon Catheter, Chocolate Touch®, and the Chocolate® PTCA Balloon Catheter, Chocolate Heart™, have the CE mark that allows them to be sold in Europe.
For more information, please visit the company website at www.qtvascular.com
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SOURCE QT Vascular Ltd.