Sydney, Sept 17, 2008 (ABN Newswire) - Cardiac catheter manufacturer CathRx Limited (ASX:CXD) today announced the first sales of its modular diagnostic catheters to its United Kingdom based distributor.
CathRx Chief Executive Officer Neil Anderson said: "Our first sale to Europe is a major commercial milestone for our business."
"We look forward to building sales and growing market share in Europe in coming months."
"Our experienced distributor network is rolling out a carefully designed sales plan at select hospitals in the main European medical markets."
Cardiac catheters are minimally invasive tools widely used by specialist cardiologists to diagnose and treat different types of cardiac arrhythmias.
The global cardiac catheter market is estimated to be worth approximately $US1 billion and growing at 10 per cent annually. The European market is currently estimated to be worth $265 million.
About CATHRX LTD
CathRx manufactures and markets a range of innovative catheters for the diagnosis and treatment of cardiac arrhythmias. Arrhythmias are caused by problems with the conductive pathways of the heart. They are diagnosed by using diagnostic catheters and, in some cases, cured by therapeutic cardiac catheters creating lesions on the wall of the heart designed to restore the conductive pathway to its normal rhythm.
CathRx’s European marketing strategy involves launching a series of products that work together as a system and offer cardiologists a complete catheter diagnosis and therapeutic solution. This “toolbox” is being released progressively over the next three quarters. CathRx is introducing its products to the least complex clinical procedures in the right side of the heart first before progressively addressing the more difficult clinical procedures on the left side of the heart such as atrial fibrillation. The goal in all cases is to provide the clinician with customised tools that are better suited to creating the required sensing and lesions for each specific patient in the least time possible. At the same time these catheters can provide cost efficiencies for hospitals when compared to current methods of treatment.
Contact
Neil Anderson CathRx Chief Executive Officer Ph: 02 9397 5700
Andrew Geddes Seed Media Ph: 0408 677 734 or 02 9555 4453
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