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Corvascular, Inc. And Novarix Enter Into Distribution Agreement For Vein Imaging Devices



3/15/2017 6:31:40 AM

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MINNEAPOLIS, March 15, 2017 /PRNewswire/ -- CorVascular Diagnostics, LLC, a Minneapolis-based medical technology company that designs and distributes advanced peripheral vascular diagnostic solutions, announced today it has entered into a distribution agreement with Novarix Inc., a company that develops innovative medical devices in the field of Intravenous (IV) therapy. The IV-eye®, developed and manufactured in the UK by Novarix, is a near infrared (NIR) vein imaging device designed to aid healthcare professionals in finding good peripheral veins for both cannulation and venipuncture.

Under the agreement between the companies, CorVascular will exclusively market the IV-eye to national and large regional distributors. A key component of the arrangement makes CorVascular responsible for introducing the IV-eye to resellers throughout all healthcare segments of the US market.

"We have been looking at vascular visualization technologies with the goal to broaden our product line, and the IV-eye is the perfect solution," said Spencer Lien, CEO of CorVascular. "We now have the ideal product for distribution into several market segments: long-term care, surgery centers, hospitals, and teaching institutions. All of which can benefit from a low cost, simple to use vein finder to help any staff member quickly obtain access."

Patients with difficult IV access are frequently subjected to repeated attempts by multiple practitioners due to failed IV attempts and are more likely to experience treatment delays. The average time requirement for peripheral IV cannulation has been reported at 2.5 to 16 minutes, with difficult IV access requiring as much as 30 minutes1. A delay in establishing vascular access can result in a delay in the administration of fluids and/or medications as well as delays in diagnosis and initiation of treatment. Multiple attempts at attaining vascular access result in frustration and a loss of productivity by the treating team as well as a poor patient experience. 

John Scott, President and CEO of Novarix, says, "We are proud to be partnered with CorVascular. Their proven ability to successfully introduce new products into the US market was a key factor in choosing them. They have the right distribution experience to quickly get the IV-eye into the hands of American distributors, while we continue to build momentum for the product around the world."

About Novarix
Novarix is a collaborative medical device development company, delivering innovative new products in the field of intravenous (IV) therapy to the worldwide healthcare sector. Based in the UK and in North Carolina, USA, Novarix develop products which demonstrate the company ethos of practicality, simplicity and performance for both healthcare professionals and patients. Key target markets include hospitals, homecare, clinics, remote healthcare and IV training centers. Visit www.novarix.com for more information.

Contact:
Rod Thomson, VP Sales and Marketing
r.thomson@novarix.com

About CorVascular
CorVascular is a privately held healthcare technology and medical device supplier to hospitals, clinics and mobile testing centers in the United States. CorVascular's sister company, Vitacon US, markets healthcare technology primarily into transitional and long-term care centers in the US. Located in Minneapolis, Minnesota's "Medical Alley", the companies are committed to providing the hands-on, high-touch experience customers expect. Together they partner with the leading designers and developers around the world to deliver the most sophisticated and cost-effective solutions to the US market. Visit www.corvascular.com and www.vitacon.us for more information.

Contact:
CorVascular Diagnostics, LLC
Mary Riebe
mary.riebe@corvascular.com

1Leidel, B. A., Kirchhoff, C., Bogner, V., Braunstein, V., Biberthaler, P., & Kanz, K. G. (2012). Resuscitation, 83(1):40-5. doi:10.1016/j.resuscitation.2011.08.017

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/corvascular-and-novarix-enter-into-distribution-agreement-for-vein-imaging-devices-300423728.html

SOURCE CorVascular Diagnostics, LLC


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