Avinger Signs Agreement with HealthTrust for Lumivascular Technology
September 07 2016 - 4:01PM
Avinger, Inc. (NASDAQ:AVGR), a developer of innovative treatments
for peripheral artery disease (PAD), today announced it has signed
an agreement with HealthTrust. The agreement establishes terms
under which members of the HealthTrust group purchasing
organization may acquire Avinger’s portfolio of technologies
designed to treat PAD, including Avinger’s PantherisTM Optical
Coherence Tomography (OCT) image-guided atherectomy system, which
recently received 510(k) clearance from the United States Food
& Drug Administration (FDA). The agreement becomes effective
September 15, 2016.
Pantheris is a minimally invasive treatment for
peripheral artery disease in which a catheter-based device is used
to remove plaque from a blood vessel. Lumivascular technology
utilized in the Pantheris system allows physicians to see from
within the artery, enabling them to precisely remove plaque,
leaving the healthy arterial structures intact. In addition,
Pantheris visualizes the artery without requiring ionizing
radiation, or toxic contrast medium (dye) injections, offering the
potential to reduce physician, staff and patient X-ray exposure, as
well as minimize patient complications related to contrast
exposure.
“Better treatment options are needed for patients suffering from
peripheral artery disease, who endure painful symptoms and, if left
untreated, are at increased risk of heart attack and stroke,” said
Jeff Soinski, president and CEO of Avinger. “We are excited that
our technologies will now be available to more providers through
this agreement with HealthTrust.”
About Avinger, Inc.Avinger, Inc. is a
commercial-stage medical device company that designs, manufactures
and sells image-guided, catheter-based systems for the treatment of
patients with Peripheral Artery Disease (PAD). PAD is characterized
by a build-up of plaque in the arteries that supply blood to the
arms and legs. The company’s mission is to dramatically improve the
treatment of vascular disease through the introduction of products
based on its Lumivascular platform, the only intravascular
image-guided system of therapeutic catheters available in this
market. Avinger’s current Lumivascular products include the
Lightbox™ OCT imaging console, the Ocelot™ family of catheters,
which are designed to penetrate total arterial blockages, known as
chronic total occlusions, or CTOs, and Pantheris™, the first-ever
image-guided Atherectomy device, designed to precisely remove
arterial plaque in PAD patients. For more information, please visit
www.avinger.com.
About HealthTrustHealthTrust (legally known as
HealthTrust Purchasing Group, L.P.) is committed to strengthening
provider performance and clinical excellence through an aligned
membership model and the delivery of total spend management
advisory solutions that leverage our operator experience, scale and
innovation. HealthTrust (www.healthtrustpg.com) serves over 1,400
acute care facilities and members in more than 22,600 other
locations, including ambulatory surgery centers, physician
practices, long-term care and alternate care sites. Headquartered
in Brentwood, Tennessee, HealthTrust is closely integrated with
Parallon (www.parallon.com), a leading provider of healthcare
business and operational services, including revenue cycle
management and technology solutions. On Twitter @healthtrustpg.
Forward-Looking StatementsThis press release
contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934 and the Private Securities Litigation Reform
Act of 1995. These forward-looking statements include statements
regarding, but not limited to, the expected effectiveness of the
agreement with HealthTrust, the potential for Lumivascular to
reduce exposure to radiation and contrast media, and the
acquisition of Lumivascular technologies by HealthTrust members.
Such statements are based on current assumptions that involve risks
and uncertainties that could cause actual outcomes and results to
differ materially. These risks and uncertainties, many of which are
beyond our control, include market conditions and future decisions
regarding the Company’s use of cash resources; as well as the other
risks described in the section entitled “Risk Factors” and
elsewhere in our second quarter Form 10-Q filing made with the
Securities and Exchange Commission on August 5, 2016. These
forward-looking statements speak only as of the date hereof and
should not be unduly relied upon. The Company assumes no obligation
to update or supplement forward-looking statements that become
untrue because of subsequent events, new information or
otherwise.
Investor Contact:
Matt Ferguson
Avinger, Inc.
(650) 241-7917
ir@avinger.com
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