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CVR Medical Corp
Symbol CVM
Shares Issued 125,127,872
Close 2019-04-12 C$ 0.27
Recent Sedar Documents

CVR Medical in talks with Canon for leasing of CSS

2019-04-15 10:45 ET - News Release

Mr. Peter Bakema reports

CVR MEDICAL ANNOUNCES PROSPECTIVE COLLABORATION WITH CANON FINANCIAL SERVICES FOR LEASING OF CAROTID STENOTIC SCAN (CSS)

CVR Medical Corp. is currently in negotiations with Canon Financial Services Inc. (CFS), a wholly owned subsidiary of Canon USA Inc., to provide leasing services for CVR Medical's carotid stenotic scan (CSS) line of products to the health care market. This agreement will expand the relationship between CVR and the Canon group company, Canon Virginia Inc., which is currently contracted for the manufacturing of the CSS.

The arrangement with CFS would represent an important step in CVR Medical's progress toward increasing the accessibility of early-stage care for vascular disease. With best-in-class services for end-user financing solutions and the global strength of the Canon brand, a broad spectrum of clinical professionals, including primary care physicians, would be able to incorporate the CSS into their everyday practices with confidence and financial flexibility.

Peter Bakema, CVR Medical's chief executive officer, states: "We believe that the future of vascular care lies in the highly accurate, non-invasive, diagnostic technique that the CSS is designed to offer. It is our intention to not only provide value for large institutional medical providers, but also to make our technology available to office-based clinicians. We are proud to expand our relationship with Canon. We feel that this new financial collaboration will help to significantly increase the CSS's market entry potential once FDA approval is received and simultaneously enhance the financial strength of our organization."

"As a true captive leasing company our goal is to provide best-in-class products and services to our Canon family of products," stated Dominic Janney, vice-president of sales and servicing for CFS. "We are honoured to have been selected by CVR Medical to not only assist with a solution which will lower the total cost of ownership of their product, but to also be a partner in their journey. We look forward to this exciting new opportunity and creating products and programs that will address the changing needs of the customers through innovation and best-in-class service."

About CVR Medical Corp.

CVR Medical is a health care company that operates in the medical device industry focused on the commercialization of its disruptive, proprietary CSS device. The CSS device is a diagnostic tool that encompasses subsonic, infrasonic and low-frequency sound wave analysis technology. CVR is currently in pivotal clinical trials in preparation for its planned submission to the Food and Drug Administration. CVR is led by an experienced and proven team of professionals with extensive health care, medical device, international expansion, regulatory and sales experience.

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