Ra Medical Systems, Inc. (NYSE American:RMED) is Now Catheter Precision, Inc. (NYSE American: VTAK), Effective Today

Getting your Trinity Audio player ready...

There were a number of stocks that made notable gains on Thursday and one of those was Ra Medical Systems Inc. (NYSE American:RMED). The stock gained significant attention from investors and ended up with gains of as much as 10%.

Hence, it may be a good idea to take a look at some of the recent developments that may have influenced the action yesterday. On August 17, it emerged that the Board of Directors of the company had approved the move to change the name of the company to Catheter Precision Inc. (NYSE American: VTAK). The name change went into effect on the same day.

Additionally, its ticker symbol VTAK was reversed on the New York Stock Exchange, and the stock would begin trading under the new name as well as the new ticker symbol when the markets open on August 18, 2023. It was also noted in the news release that the company was also going to launch a new website to coincide with the name change. Up until yesterday, the company’s website was www.ramed.com.

The Chief Executive Officer of the company, David Jenkins, noted that the name change was an indication of the fact that the company was on the verge of completely transforming into a cardiac electrophysiology firm. He noted that it was moving away from its laser catheter business.

On August 7, the company made an announcement with regard to a major milestone that had been hit by its lead electrophysiology division product, VIVO. The company revealed that the product had been used in as many as 100 ventricular ablation procedures. VIVA, which is the abbreviation for View Into Ventricular Onset, helps physicians learn about the specific anatomy of a patient and helps with the planning of the ablation procedure.

Ra Medical Systems, Inc. (NYSE American:RMED) is Now Catheter Precision, Inc. (NYSE American: VTAK), Effective Today

ByNitin Harlalka

Related posts: