Vancouver, British Columbia--(Newsfile Corp. - November 15, 2017) - CVR Medical Corp. (TSXV: CVM) (FSE: B3BN) (OTCQB: CRRVF) ("CVR Medical") announces partnership with Rogan Molding Technologies. The Northbrook, IL company will be the exclusive manufacturer of the patient-interfacing gel pad for CVR's "Carotid Stenotic Scan (CSS)."
Founded in 1934, Rogan Molding Technologies is a staple organization in original equipment manufacturing, and a global leader in the injection molding industry. Being ISO 9001 and 13485 certified, their cleanroom facilities are to meet the highly specialized needs of CVR's CSS device. Their experience and knowledge creating durable products with design flexibility and cost-efficiency has given CVR great confidence in this piece of their novel device as it moves toward market launch.
"Working with a company like CVR is exactly the sort of unique, visionary partnership we look for," says Mr. Jim Ritzema, Rogan's Director of New Product Development. "We actually end up declining most inquiries from medical start-ups. We're very picky, doing feasibility analysis on every project, and with this we recognized an outlier. The technology CVR has, and the device it has created, are going to be in high demand. For us, when we see a product we believe in, we're able to offer eighty-three years of engineering resources, development, and design experience to help make it a reality."
CVR CEO Peter Bakema states, "With the disposable aspect of our business model playing a vital role in the future success of CVR, it is important to partner with experts such as Rogan. Having their diverse support and wealth of capabilities instills a high level of reliability to a vital part of our device. The importance of what actually makes contact with the patient cannot be overstated, and Rogan makes it possible to provide that with quality and predictability."
For additional information on the organization, leadership, and current news, please visit our company website www.CVRMed.com
About CVR Medical
CVR Medical is a company that is involved in an equal parts joint venture with CVR Global Inc. (the "Joint Venture"). The Joint Venture operates in the medical industry focused on the commercialization of a proprietary subsonic, infrasonic, and low frequency sound wave analysis technology and has patents to a diagnostic device designed to detect and measure carotid arterial stenosis. CVR Medical is managed by a proven technical team. CVR Medical trades on the TSX Venture Exchange under the symbol CVM.
ON BEHALF OF THE BOARD:
(signed) "Peter Bakema"
CEO, President & Director
For further information contact:
Peter Bakema, CEO, President and Director
Telephone: (734) 718-5115
Email: info@cvrmed.com
or
Brisco Capital Partners Corp.
Scott Koyich, President
Telephone: (403) 262-9888
This press release contains forward-looking information that involves various risks and uncertainties regarding future events related to the Joint Venture. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with commercialization of technology and the practice of medicine, (3) a change in health regulations, (4) any number of events or causes which may delay or cease commercialization and development of the Joint Venture, (5) the risk that the Company or the Joint Venture does not execute its business plan, (6) inability to retain key employees, (7) inability to finance operations and growth, and (8) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
