WOBURN, Mass., Nov. 17 /PRNewswire-FirstCall/ -- CardioTech International, Inc. today announced that it has received FDA clearance to market a new line of wound dressings trade named AlgiMed designed for exuding and bleeding wounds. The dressing absorbs wound exude almost instantaneously, and helps control minor bleeding.
Advanced wound care is a $1.5 billion market consisting of specialized dressings to treat serious wounds employing the principle of moist wound healing. By maintaining a moist wound healing environment, wounds have been shown to heal faster with reduced pain and minimal scarring.
AlgiMed is a sterile wound dressing made of calcium alginate. When the dressing comes in contact with blood, calcium (a potent pro-coagulant) is released, thus stopping bleeding. CardioTech expects to begin sales of this new product in January 2004. AlgiMed complements HydroMed, CardioTech's other wound dressing. HydroMed is an absorbent hydro gel dressing designed for low exuding wounds, while AlgiMed is an alginate dressing designed for moderately exuding and bleeding wounds.
CardioTech plans to introduce AlgiMed starting in January 2004. The product will be distributed by CardioTech through its own warehouse facilities in Massachusetts and California. The dressings will be sold through sales representatives in the U.S., and by national distributors overseas.
About CardioTech:
CardioTech International, Inc. maintains operations in Woburn, Massachusetts, Plymouth, Minnesota and Rancho Santa Margarita, California. CardioTech focuses on developing and marketing devices to treat cardiovascular disease.
Current revenue sources for CardioTech include patented medical grade polyurethanes for use in implantable medical devices, disposable devices manufactured on an OEM basis for Fortune 100 companies, cardiovascular tubing systems, arterial filters, oxygenators, cardioplegia delivery systems and oxygen saturation monitors. CardioTech is developing a synthetic coronary artery bypass graft that addresses a potential market of $1.5 billion annually.
CardioTech believes that this release contains forward-looking statements that are subject to risks and uncertainties. Such statements are based on management's current expectations and are subject to facts that could cause results to differ materially from the forward-looking statements. For further information you are encouraged to review CardioTech's filings with the Securities and Exchange Commission.
For more information please contact:
Dave Gentry
Investor Relations Specialist
Aurelius Consulting Group
407-644-4256
Dave@aureliusconsulting.comhttp://www.runonideas.com/
CardioTech International, Inc.