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Ra Medical Systems & Catheter Precision Entered into a Definitive Merger Agreement to Treat Cardiac Arrhythmias

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Ra Medical Systems & Catheter Precision Entered into a Definitive Merger Agreement to Treat Cardiac Arrhythmias

Shots:

  • The outstanding convertible promissory notes & equity interests of Catheter Precision shall be converted into shares of common stock of Ra Medical. The merger is expected to close before the end of 2022
  • Catheter Precision will become a wholly owned subsidiary of Ra Medical for stock reverse merger transactions. The combined company will focus on novel technologies and solutions for patients with cardiac arrhythmias
  • Catheter Precision stakeholders will own ~80% of the combined company, and pre-merger Ra Medical equity holders will own ~20% on a fully diluted basis. Catheter Precision’s VIVO & Amigo was the US FDA-cleared & CE marked while the product pipeline of US-based Catheter Precision’s includes vessel closure devices is expected to be launched in H1’23

Ref: Businesswire | Image: Catheter Precision

Click here to­ read the full press release 

Senior Editor

Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.

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