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. Ra Medical entered into a definitive merger agreement with privately held Catheter Precision in early September.
VIVO, the company's lead product, is a non-invasive 3D imaging system that enables physicians to identify the origin of arrhythmias pre-procedure, which helps to streamline workflow and reduce procedure time.
Catheter Precision has 35 issued patents and patent applications covering 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 company's merger with Ra Medical is expected to close before 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 bringing 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 time of publication, according to Benzinga Pro.
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