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Cardiva Medical, Inc. to Present at the 'Investment In Innovation (In3) Medical Device Summit'


6/16/2008 7:39:27 AM

MOUNTAIN VIEW, Calif., June 16 /PRNewswire/ -- Cardiva Medical, Inc., a privately held medical device company and developer of the Boomerang Catalyst(TM) System announces that it will present the initial market results of the Boomerang Catalyst(TM) II System and completion of its US sales force expansion on June 18 at 3:20pm at the Medtech Insight/Windhover Information's "Investment In Innovation (In3) Medical Device Summit" medical technology investment and partnering conference held at The Palace Hotel in San Francisco, CA.

The Boomerang Catalyst II System is Cardiva's second-generation vascular closure device that employs proprietary hemostatic coatings to accelerate hemostasis in the cardiac catheterization lab following endovascular procedures. This unique technology leaves absolutely nothing behind in the patient, thereby eliminating a major source of complications.

In April 2008, Cardiva Medical, Inc. completed a $15.5 million private equity financing. With the financing proceeds, Cardiva has aggressively recruited and completed the expansion of its direct sales forces in the US to 72 professionals including 21 territory managers, 36 clinical educators, and 15 sales managers.

"Since the product launch of the Boomerang Catalyst II System about six months ago, we have received very positive feedback from physicians, and experienced rapid adoption of the Boomerang Catalyst II technology in the cardiac catheterization labs across the country," commented Augustine Y. Lien, Chairman and CEO. "With the infusion of more than $15 million from our recent equity financing, we have successfully doubled our direct sales force in the past two months, allowing Cardiva to establish a visible presence in all the major metropolitan areas in the US and enabling greater access to the vast opportunity in the vascular access closure market."

About Cardiva Medical, Inc.

Founded in July 2002, and headquartered in Mountain View, Calif., Cardiva Medical, Inc. is a privately held medical company focused on developing and commercializing devices which close the vascular access site with unsurpassed safety and ease-of-use. Cardiva's first product, the Boomerang Wire System, was approved in EU countries and in the US in 2004. Cardiva's second-generation product, the Boomerang Catalyst System, was approved in March 2007 and launched in July 2007. The enhanced Boomerang Catalyst, trade named as "Boomerang Catalyst II System" received 510(K) clearance in September 2007 and launched in January 2008. Cardiva was selected by Frost & Sullivan as the recipient of the 2006 Frost & Sullivan Award for Entrepreneurial Company in the U.S. angioplasty and vascular closure devices market. For additional information about Cardiva Medical, Inc. see our website at http://www.cardivamedical.com.

Cardiva, Boomerang and Boomerang Catalyst System are trademarks/registered trademarks of Cardiva Medical, Inc.

CONTACT: Glenn Foy, President of Cardiva Medical, Inc., +1-650-964-8900, x
215, or Fax: +1-650-964-8911, glenn_foy@cardivamedical.com

Web site: http://www.cardivamedical.com/



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