Business News
ATS Medical Announces CE Mark Regulatory Approval for ATS CryoMaze(TM)
2008-08-14 13:45:00
MINNEAPOLIS, Aug. 14 /EMWNews/ -- ATS Medical, Inc. (Nasdaq: ATSI), manufacturer and marketer of state-of-the-art cardiac surgery products and services, today reported that it has received ISO certification for its Quality System to manufacture and CE Mark approval to distribute ATS CryoMaze(TM) cardiac ablation products in the European Union, indicating it is in compliance with relevant European health, safety and environmental protection legislation. These approvals, in combination with the completion of transfer of the U.S. 510k rights and validation of the manufacturing processes, enable the Company to sell the ATS-manufactured product line into the U.S. and Europe. The regulatory approvals are the final step in the integration of the surgical ablation business, which the Company acquired in June 2007. Since the acquisition, the Company has purchased devices from the previous manufacturer to support worldwide sales. In anticipation of these approvals, the Company began ramping its manufacturing efforts in the second quarter and believes its current manufacturing capacity is sufficient to meet demand. "We are elated by the achievements of our manufacturing and regulatory teams in obtaining these key certifications enabling us to supply both U.S. and European markets with devices manufactured by ATS Medical," commented Michael Dale, President and Chief Executive Officer of ATS Medical, Inc. "We are extremely pleased with the market's acceptance of our ATS CryoMaze products and believe this business will be a primary contributor to the acceleration of revenue growth over the next several years. With the integration process behind us, we are now able to focus our efforts on manufacturing process improvements and cost reductions and have the flexibility to develop new products on a reduced timeline."
About ATS Medical
ATS Medical, Inc. provides innovative products and services focused on
cardiac surgery. The company, global in scope, is headquartered in
Minneapolis, Minnesota. More than 150,000 ATS Open Pivot(R) Heart Valves,
which utilize a unique pivot design resulting in exceptional performance
and low risk profile, have been implanted in patients worldwide. The ATS
3f(R) brand encompasses multiple tissue heart valve product offerings at
varying steps from market introductions to clinical trials to development
projects that incorporate less invasive valve replacement technology. ATS
Medical's focus on serving the cardiac surgery community is further
strengthened by offerings that include ATS Simulus(R) annuloplasty products
for heart valve repair and ATS CryoMaze(TM) surgical ablation products. The
ATS Medical web site is http://www.atsmedical.com.
Safe Harbor
This Press Release contains forward-looking statements that may include
statements regarding intent, belief or current expectations of the Company
and its management. Actual results could differ materially from those
projected in the forward looking statements as a result of a number of
important factors, including the results of clinical trials, the timing of
regulatory approvals, the integration of 3f Therapeutics and the surgical
cryoablation business of CryoCath Technologies, Inc., regulatory actions,
competition, pricing pressures, supplier actions and management of growth.
For a discussion of these and other risks and uncertainties that could
affect the Company's activities and results, please refer to the Company's
filings with the Securities and Exchange Commission, including its Form
10-K for the year ended December 31, 2007 and its most recent quarterly
report on Form 10-Q.
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