Ra Medical Systems Announces Reverse Merger; Combined Company To Focus On Cardiac Arrhythmias

Ra Medical Systems Inc RMED has agreed to merge with privately held Catheter Precision Inc, a medical device and technology company focused on cardiac electrophysiology.
Under the terms of the agreement, Catheter Precision will become a wholly owned subsidiary of Ra Medical in a stock-for-stock reverse merger transaction.
If completed, the merger will result in a combined publicly traded company that will focus on the cardiac electrophysiology market.
CEO of Catheter Precision will act as Chief Executive Officer of the combined company.
Catheter Precision has three product areas that it intends to pursue.
Its lead product, VIVO (an acronym for View Into Ventricular Onset), is an FDA-cleared and CE Mark product that utilizes non-invasive inputs to locate the origin of ventricular arrhythmias.
It also intends to pursue a second generation of Amigo, a robotic arm previously cleared by both FDA and CE. It is a catheter control device that can be remotely controlled outside the procedure room.
Catheter Precision is working toward a third product release in the first half of 2023, which is a vessel closure device that would assist in the closure of the insertion site of the percutaneous catheter or other device used within the body.
After the merger, Catheter Precision stakeholders are expected to own approximately 80% of the combined company. Pre-merger Ra Medical equity holders are expected to own approximately 20% of the combined company.
Price Action: RMED shares are up 41.5% at $0.2060 during the premarket session on the last check Monday.

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Ra Medical Systems Announces Reverse Merger; Combined Company To Focus On Cardiac Arrhythmias