Ra Medical Systems Inc. RMED shares are trading higher Tuesday after Catheter Precision announced the filing of a new U.S. patent application for its VIVO technology. In early September, Ra Medical entered into a definitive merger agreement with privately held Catheter Precision.
The VIVO, the company's lead product, is a non-invasive 3 D imaging system that allows physicians to identify the origin of arrhythmias pre-procedure, which helps to streamline workflow and reduce procedure time.
Catheter Precision has 35 patents and patent applications relating to the VIVO technology, the Amigo robotic system and its new closure device, which is expected to be commercialized in the first half of 2023.
The merger with Ra Medical is expected to close by the end of 2022. Under the terms of the agreement, Catheter Precision will become a wholly owned subsidiary of Ra Medical Systems in a stock-for-stock reverse merger transaction.
Catheter Precision is a U.S. based medical device company that brings new solutions to market to improve the treatment of cardiac arrhythmias.
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RMED Price Action: Ra Medical has a 52 week high of $84.49 and a 52 week low of $5.44.
The stock was up 7.69% at $7.14 at the time of publication, according to Benzinga Pro.