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Concentric Medical Announces Product and Procedure Reimbursement as Well as Full Commercialization of the Merci Retriever® in Japan


10/4/2010 10:11:16 AM

MOUNTAIN VIEW, Calif., Oct. 4 /PRNewswire/ -- Concentric Medical, Inc., the global leader in devices for clot removal in ischemic stroke patients, today announced that the Merci Retriever® has recently received both product and procedure reimbursement from the Japanese Ministry of Health, Labor and Welfare. The Merci Retriever is a catheter-based medical device that physicians at stroke centers use to remove blood clots from the brains of patients suffering an ischemic stroke.

On May 4th, Concentric Medical announced the Shonin approval of the Merci Retriever®, Merci® Microcatheter, and Merci® Balloon Guide Catheter.

Nobuyuki Sakai, M.D., D.M.Sc., Director, Neurosurgery & Stroke Center at Kobe City General Hospital said, "The Merci Retriever is quickly becoming a very meaningful treatment option for acute stroke patients in Japan. The initial cases at leading stroke institutions since Shonin approval have been very successful. Reimbursement for the Merci Retriever and the mechanical procedure are a critical part of making the Merci system available to all neurosurgeons, neurologists, and hospitals in Japan that treat acute stroke patients."

Century Medical, Inc. is the exclusive distribution partner for Concentric Medical in Japan. The two companies worked together to obtain both Shonin approval and reimbursement for the Merci Retriever, which is the first device for clot removal for ischemic patients to be approved in Japan.

One of Concentric Medical's strategic objectives has been global expansion. The incidence of stroke and the mortality and disability associated with stroke are very significant issues for health care systems across the world. Maria Sainz, President and CEO of Concentric Medical said, "We are honored to be the first to offer a device solution for stroke patients in Japan. Launching the Merci system in Japan is a very significant milestone and a great new opportunity for growth for our company. With over 1,300 patients enrolled in clinical studies, we believe Merci has been proven to be a very effective tool in revascularizing stroke patients."

Akira Hoshino, President and CEO of Century Medical, Inc. said, "Century Medical is extremely excited to bring such a valuable and innovative therapy to Japan. The reimbursement for both the Merci Retriever and procedure related to mechanical thrombectomy with the Merci Retriever are an essential part of the introduction of this new treatment. Century Medical is committed to pioneering stroke treatment in Japan by working closely with physicians and hospitals to make the Merci Retriever widely available for Japanese stroke patients."

About Concentric Medical

Concentric Medical is located in Mountain View, California and is the global leader in the development of endovascular devices for revascularizing stroke patients. The company manufactures and markets solutions for ischemic stroke: minimally invasive devices that are delivered into the brain to restore blood flow by removing blood clots that cause ischemic stroke. Concentric Medical's devices are available in over 500 leading stroke centers around the world, and have been the subject of several clinical studies. For more information about Concentric Medical, please visit www.concentric-medical.com.

About Acute Ischemic Stroke

Stroke is the third leading cause of death in the developed world and the leading cause of serious long-term disability. Ischemic stroke represents over 85% of strokes and occurs when a blockage or clot develops in one of the arteries supplying blood to the brain. In 2004 the FDA cleared Concentric Medical's Merci Retriever for use in stroke patients who are ineligible for IV-tPA or who fail to respond to IV-tPA therapy. This pioneering device created a departure from the historic method of caring for stroke patients and offered physicians and patients a long-awaited option for stroke intervention.

For more information about Concentric Medical, please visit www.concentric-medical.com.

Media Contact:

+1 650-938-2100

strokeinfo@concentric-medical.com



SOURCE Concentric Medical, Inc.


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