Avinger Signs Agreement with U.S. Department of Veterans Affairs for Lumivascular Technology
September 13 2016 - 4:01PM
Avinger, Inc. (NASDAQ:AVGR), a developer of innovative treatments
for peripheral artery disease (PAD), today announced the company
has received an FSS Contract Award from the U.S. Department of
Veterans Affairs (VA) which establishes terms under which VA
hospitals across the country may acquire Avinger’s portfolio of
Optical Coherence Tomography (OCT) image-guided catheters for their
veterans hospitals.
VA operates the nation's largest integrated health care system,
with more than 1,700 hospitals, clinics, community living centers,
domiciliaries, readjustment counseling centers, and other
facilities.
“We’re thrilled that our Lumivascular technologies will now be
available to the men and women who have served our country through
this agreement with VA,” said Jeff Soinski, president and CEO of
Avinger.
“I am happy to see this agreement come to fruition, as most of
my medicine and cardiology training has been at VA hospitals,” said
Avinger founder and executive chairman John B. Simpson, PhD, MD.
“The men and women of VA deserve the best. In my humble opinion,
Avinger has that to offer.”
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 the Department of Veterans Affairs
The Department of Veterans Affairs (VA) provides
health care services to veterans at 1,588 locations. The VA also
operates 300 Vet Centers and 70 Mobile Vet Centers, which provide
readjustment counseling to veterans and their families. Veterans
can access outpatient care at 1,207 locations, acute inpatient
(hospital) care at 144 locations, community living centers at 134
locations and residential rehabilitation at 114 locations. In 2014,
VA treated more than six million patients during 92 million
outpatient visits and nearly 707,000 inpatient admissions. Another
1.3 million received care in local communities, funded by VA. New
technologies are expanding access to care. For example, VA
telehealth programs – the largest and most comprehensive in the
nation – are turning veterans’ homes and communities into preferred
sites of care. In 2014, VA’s telehealth programs provided care to
more than 717,000 veterans in more than 2.1 million episodes of
care. Outreach using mobile health clinics and rural health care
partnerships continues to expand access to veterans in rural
areas.
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 acquisition of Lumivascular
technologies by VA hospitals. 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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