Business
H-CYTE Enters Into Letter of Intent for Acquisition of Catheter Precision, Inc.
H-CYTE Enters Into Letter of Intent for Acquisition of Catheter Precision, Inc..
About this update from Innoveren Scientific Inc.
[{"type":"text","content":"\n TAMPA, Fla., Jan. 11, 2022 (GLOBE NEWSWIRE) -- H-CYTE, Inc. (OTCQB: HCYT), a medical biosciences company, today announced that it has entered into a letter of intent for the acquisition of Catheter Precision, Inc. Catheter Precision is a medical device company focused on one of healthcare’s largest multi-billion dollar markets: Cardiac Electrophysiology. Catheter Precision has developed two cost-effective, user friendly and advanced technologies to improve the treatment of cardiac arrhythmias. These healthcare devices include ground-breaking robotic and technologic solutions to bring new opportunities to market for complex medical procedures. Designed to improve patient outcomes, validated with clinical data, patent protection, peer-reviewed publications and strong physician support, the FDA approved devices fall into a high gross margin, razor/razor blade revenue model allowing the leveraging of existing reimbursement codes, existing regulatory approvals and low-risk future approvals. The company includes an experienced and successful board of directors, group of scientific advisors and management team. Michael Yurkowsky, Chief Executive Officer for H-CYTE, stated, “I’m pleased to announce our entry into a letter of intent to acquire Catheter Precision, Inc. David Jenkins and his team have built a company with cutting edge technology that has the potential to change the Cardiac Electrophysiology market. David has an impeccable track record of building companies in the medical device space, and we believe their products offer a substantial market opportunity and will provide H-CYTE investors a first class brand and FDA approved device. We look forward to completing due diligence, targeting a closing date in the first quarter of 2022.” The transaction is subject to a definitive agreement and customary closing conditions. About H-CYTE, Inc. H-CYTE is a medical biosciences company. H-CYTE’s mission is to become a leader in next generation medical technology with the ultimate goal of improving patient lives. For more information about H-CYTE, please visit www.HCYTE.com. Safe Harbor StatementCertain statements in this press release constitute \"forward-looking statements\" within the meaning of the federal securities laws. Words such as \"may,\" \"might,\" \"will,\" \"should,\" \"believe,\" \"exp...