Vancouver, British Columbia--(Newsfile Corp. - February 6, 2018) - CVR Medical Corp. (TSXV: CVM) (FSE: B3BN) (OTCQB: CRRVF) ("CVR Medical" or "CVR") announces the placement of an initial order of touch panel PC's for its "Carotid Stenotic Scan (CSS)" device. This order represents the preliminary inventory build necessary for an FDA submission and subsequent market launch.
Hitachi High Technologies America, Inc. ("HTA") designed the unique core processor for the CSS, which CVR believes will enable the CSS to interpret the sub-sonic and infrasonic sound waves it intakes and display results in real time. It is one of the unique, signature elements of the device that is aiming to revolutionize preventative testing of carotid artery stenosis.
CVR CEO Peter Bakema states, "We are pleased to be moving forward with the order of our custom-designed PC's from HTA. Their expertise and track record of providing groundbreaking technology has been a source of great confidence as we've moved through research and development. To be putting that work to practical use now represents a great step towards CVR's goal of seeing this device reach its market potential."
For additional information on the organization, leadership, and current news, please visit the 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.
About HTA
HTA is a wholly-owned subsidiary of Hitachi High-Technologies Corporation, headquartered in Tokyo, Japan. The Hitachi High-Tech Group will continue aiming to lead the world in the high-tech solutions business, and will respond swiftly to the needs of customers and the market from the customer's perspective as a business creating company working at the cutting edge on the front-line.
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.
