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Over the recent years, several companies have reached significant milestones, and among the notable achievers is Catheter Precision Inc. (NYSE American: VTAK). The company has witnessed substantial growth, primarily attributable to its flagship product, VIVO™.
Catheter Precision, Inc. (NYSE American: VTAK), recently spotlighted in “MedTech Outlook”, is showing strength as it trades above its 200-day moving average (DMA). The stock experienced a significant surge of 20.87%, trading 64,684 shares above its 20, 50, and 200-day moving averages (DMA). The stock exhibits a consistent trading pattern, characterized by a strong upward trend that has propelled it into a higher trading range. Keep an eye out for consolidation, which could signal a potential buying opportunity.
VIVO™ (View into Ventricular Onset) represents a non-invasive 3D imaging system designed to assist physicians in pinpointing the precise location of cardiac arrhythmias prior to procedures. (See EP Lab Digest Case Study Now) This functionality enhances workflow efficiency and minimizes procedure duration. Additionally, VIVO™ has obtained marketing clearance from the United States Food and Drug Administration and is commercially accessible in the European Union.
Furthermore, the company has partnered with HHNM Heart Hospital in New Mexico, which serves as one of its distributors for VIVO™. Renowned for offering cutting-edge cardiac services, HHNM Heart Hospital stands as the sole facility in New Mexico exclusively devoted to cardiac care, including LVAD (left ventricular assist device) implants. Since initiating the collaboration with the hospital on September 2021, 175 procedures have been successfully conducted utilizing VIVO™. For each procedure conducted, Catheter Precision earns $1500 from disposables, boasting a gross margin of 90%. Operating on a razor blade model akin to razors and blades, Catheter Precision’s VIVO™ emphasizes device placement and generates revenue primarily from disposables.