Corindus Vascular Robotics Announces Live Broadcast Of Robotic-Assisted PCI Using CorPath GRX To TCT Asia-Pacific Summit In South Korea

WALTHAM, Mass.--(BUSINESS WIRE)--Corindus Vascular Robotics, Inc. [NYSE MKT: CVRS], a leading developer of precision vascular robotics, announced today that Fu Wai Hospital in China performed and broadcast live a PCI procedure using the CorPath GRX System to more than 4,000 attendees at the 22^nd annual TCT Asia-Pacific Cardiovascular Summit. The annual conference, being held in Seoul, South Korea, attracts attendees from 44 countries, with a majority of attendees from the Asia-Pacific region.

“The Asia-Pacific region represents a variety of markets that are strategically important as we continue to grow our business internationally. We are encouraged by the positive feedback we have received from physicians in response to both live cases regarding the capability and potential for robotics in the region”

The CorPath GRX System, temporarily placed at Fu Wai Hospital for investigational use, is the first installation of the next-generation CorPath System outside of the United States. Dr. Kefei Dou, Deputy Director of Coronary Artery Disease for the Department of Cardiology at Fu Wai Hospital, successfully performed the first robotic-assisted PCI procedures in Asia in March, with this case being the second one transmitted via live feed. Fu Wai Hospital is the largest hospital in China and specializes in the treatment, prevention and research of cardiovascular diseases and hypertension and their related complications. According to Millennium Research Group, China is the second largest PCI market in the world.

“The Asia-Pacific region represents a variety of markets that are strategically important as we continue to grow our business internationally. We are encouraged by the positive feedback we have received from physicians in response to both live cases regarding the capability and potential for robotics in the region,” said Tal Wenderow, Corindus Co-Founder and Executive Vice President International & Business Development.

“Having been involved in the first live case and on the panel for the second, I am impressed with the speed with which Dr. Dou and his team mastered the CorPath technology. The discussion around the precision capabilities, applicability of robotics in complex PCI, and the vision of where the technology can go has spurred tremendous interest in the interventional community,” said J. Aaron Grantham, M.D., Corindus Chief Medical Officer.

CorPath GRX offers enhancements to the CorPath platform by adding important key upgrades that increase precision, improve workflow, and extend the capabilities and range of procedures that can be performed robotically. Physicians now have independent and simultaneous robotic control of guide catheters, guidewires, and balloon/stent catheters, with one-millimeter advancement capability, from the workstation console. This precise positioning that allows physicians to adjust guide catheters during PCI procedures may expand the use of the CorPath GRX System to more complex cases.

About Corindus Vascular Robotics

Corindus Vascular Robotics, Inc. is a global technology leader in robotic-assisted vascular interventions. The company’s CorPath^® System is the first FDA-cleared medical device to bring robotic precision to interventional procedures. During the procedure, the interventional cardiologist sits at a radiation-shielded workstation to advance guide catheters, stents, and guidewires with millimeter-by-millimeter precision. The workstation allows the physician greater control and the freedom from wearing heavy lead protective equipment that causes musculoskeletal injuries. With the CorPath System, Corindus Vascular Robotics brings robotic precision to interventional procedures to help optimize clinical outcomes and minimize the costs associated with complications of improper stent placement during manual procedures. Corindus stands behind its product with its unique $1,000 hospital credit “One Stent Program.” For additional information, visit www.corindus.com, and follow @CorindusInc.

Forward Looking Statements

Statements made in this release that are not statements of historical or current facts are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Corindus to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on any forward looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements in the conditional or future tenses or that includes terms such as “believes,” “belief,” “expects,” “estimates,” “intends,” “anticipates” or “plans” to be uncertain and forward-looking. Forward-looking statements may include comments as to Corindus’ beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside Corindus’ control.

Examples of such statements include statements:

• that the Asia-Pacific region represents a variety of markets that are strategically important as Corindus continues to grow its business internationally,
• that discussion around the precision capabilities, applicability of robotics in complex PCI, and the vision of where the CorPath technology can go has spurred tremendous interest in the interventional community, and
• that the precise positioning enhancements to the CorPath platform that allows physicians to adjust guide catheters during PCI procedures may expand the use of the CorPath GRX System to more complex cases.

Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are described in the sections titled “Risk Factors” in the company’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as well as reports on Form 8-K, including, but not limited to the following: the rate of adoption of our CorPath System and the rate of use of our cassettes; risks associated with market acceptance, including pricing and reimbursement; our ability to enforce our intellectual property rights; our need for additional funds to support our operations; our ability to manage expenses and cash flow; factors relating to engineering, regulatory, manufacturing, sales and customer service challenges; potential safety and regulatory issues that could slow or suspend our sales; and the effect of credit, financial and economic conditions on capital spending by our potential customers. Forward looking statements speak only as of the date they are made. Corindus undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date. More information is available on Corindus’ website at http://www.corindus.com.