The Vertical Group - News Releases

News Releases
back to News Release listing

printable PDF

A-Med Systems Announces Alliance with Baxter Healthcare for Distribution of New Circulatory Support System

WEST SACRAMENTO, Calif., Jan. 31 /PRNewswire/ -- A-Med Systems, Inc. announced today that a strategic alliance has been formed with an affiliate of Baxter International, Inc. (NYSE: BAX). Under the terms of the agreement, Baxter CardioVascular Group has received exclusive rights to distribute the A-Med A-Syst(TM) circulatory support system in Europe. The innovative A-Syst(TM) System was developed to facilitate the wider acceptance of "beating heart" coronary artery bypass surgery. In conjunction with this alliance, Baxter has made an equity investment in A-Med. Financial terms of the agreement were not disclosed.

The A-Med A-Syst(TM) circulatory support system has been designed to augment the heart's pumping capability during coronary artery bypass surgery. Recent studies indicate that the A-Med A-Syst(TM) can maintain hemodynamic stability during the manipulation of the heart that is required during coronary artery surgery without a conventional heart-lung machine (also referred to as "beating heart" surgery). A-Med Systems received the CE Mark for its A-Syst(TM) System in December 1999, and is in the process of obtaining the necessary approvals to market the product in the United States.

Michael DeVries, President and CEO of A-Med Systems, commented: "We believe that our alliance with the Baxter CardioVascular Group will expedite the delivery and acceptance of the A-Syst(TM) System by cardiac surgeons in Europe." "The Baxter CardioVascular Group is a well-established and respected marketer to cardiovascular specialists in Europe, and the A-Med A-Syst(TM) System is very complementary to its broad product line."

"We are pleased to be able to offer this pioneering technology to clinicians in Europe. We believe that the A-Med A-Syst(TM) System will benefit many late-stage coronary artery disease patients who are candidates for "beating-heart" bypass surgery, and is a good complement to our current portfolio of leading products and services," said Michael A. Mussallem, Baxter group vice president.

A-Med Systems, Inc., a venture capital-backed company located in West Sacramento, California, is focused on the development of circulatory support systems for heart surgery and acute heart support indications. The company is backed by leading venture capital firms with significant experience in the medical device field, including U.S. Venture Partners, The Vertical Group, Morgenthaler Ventures, and Venrock Associates.

Baxter's CardioVascular Group offers a comprehensive line of products and services to treat late-stage cardiovascular disease, focusing on cardiac surgery, critical care, and vascular and perfusion products and services. The CardioVascular Group has a strong global presence, with more than 40 percent of its sales generated outside of the United States, and extensive manufacturing operations in North America, Japan, Europe, and Latin America.

The CardioVascular Group expects to be spun off from Baxter in the first half of 2000, and will be named the Edwards Lifesciences Corporation.

SOURCE A-Med Systems, Inc.
Web Site: http://www.amedsystems.com