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Press Releases

Corindus Announces First Robotic-Assisted PCI Procedures Performed in Asia Using CorPath® GRX System

March 31, 2017

Live Case Transmitted from Fu Wai Hospital to China Interventional Therapeutics Conference in Beijing

WALTHAM, Mass.--(BUSINESS WIRE)-- Corindus Vascular Robotics, Inc. (NYSE MKT: CVRS), a leading developer of precision vascular robotics, announced today that the first robotic-assisted PCI procedures were performed in Asia using its CorPath GRX System. One of these procedures was transmitted live from Fu Wai Hospital to the more than 8,000 attendees at the China Interventional Therapeutics Conference. The annual conference, being held in Beijing, China this year, is the largest interventional cardiology conference in the Asia Pacific region.

The CorPath GRX System, placed at Fu Wai Hospital for investigational use, is the first installation of the next-generation CorPath System outside of the United States. Dr. Kefei Dou, Deputy Director of Coronary Artery Disease for the Department of Cardiology at Fu Wai Hospital, successfully performed the first robotic-assisted PCI procedures in Asia. Fu Wai Hospital is the largest hospital in China and specializes in the treatment, prevention and research of cardiovascular diseases and hypertension and their related complications. According to Millennium Research Group, China is the second largest PCI market in the world.

"The level of precision that can be attained using the CorPath GRX technology, combined with the potential for remote capabilities in the future, will both expand and improve how we treat our patients," said Xu Bo, MBBS, Director of Catheterization Laboratories, Fu Wai Hospital. "We are honored and excited to be able to participate in the advancement of patient care through robotics and to be the first hospital bringing this technology to Asia."

"We have entered a transformational period for our company with a focus on expanding our reach to partner with hospitals to build robotic programs globally. The successful completion of these procedures at Fu Wai Hospital is the first step in our growth strategy within China," said Mark Toland, President and Chief Executive Officer of Corindus.

CorPath GRX offers enhancements to the CorPath platform by adding important key upgrades that increase precision, improve workflow, and extend the capabilities and range of procedures that can be performed robotically. Physicians now have independent and simultaneous robotic control of guide catheters, guidewires, and balloon/stent catheters, with one-millimeter advancement capability, from the workstation console. This precise positioning that allows physicians to adjust guide catheters during PCI procedures may expand the use of the CorPath GRX System to more complex cases.

About Corindus Vascular Robotics

Corindus Vascular Robotics, Inc. is a global technology leader in robotic-assisted vascular interventions. The company's CorPath® System is the first FDA-cleared medical device to bring robotic precision to interventional procedures. During the procedure, the interventional cardiologist sits at a radiation-shielded workstation to advance guide catheters, stents, and guidewires with millimeter-by-millimeter precision. The workstation allows the physician greater control and the freedom from wearing heavy lead protective equipment that causes musculoskeletal injuries. With the CorPath System, Corindus Vascular Robotics brings robotic precision to interventional procedures to help optimize clinical outcomes and minimize the costs associated with complications of improper stent placement during manual procedures. Corindus stands behind its product with its unique $1,000 hospital credit "One Stent Program." For additional information, visit www.corindus.com, and follow @CorindusInc.

Forward Looking Statements

Statements made in this release that are not statements of historical or current facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Corindus to be materially different from historical results or from any future results or projections expressed or implied by such forward-looking statements. Accordingly, readers should not place undue reliance on any forward looking statements. In addition to statements that explicitly describe such risks and uncertainties, readers are urged to consider statements in the conditional or future tenses or that includes terms such as "believes," "belief," "expects," "estimates," "intends," "anticipates" or "plans" to be uncertain and forward-looking. Forward-looking statements may include comments as to Corindus’ beliefs and expectations as to future events and trends affecting its business and are necessarily subject to uncertainties, many of which are outside Corindus’ control.

Examples of such statements include statements:

  • that the level of precision that can be attained using the CorPath GRX technology, combined with the potential for remote capabilities in the future, will both expand and improve how patients are treated;
  • that Corindus has entered a transformational period with a focus on expanding its reach to partner with hospitals to build robotic programs globally;
  • that the successful completion of these procedures at Fu Wai Hospital is the first step in Corindus' growth strategy within China; and
  • that the precise positioning enhancements to the CorPath platform that allows physicians to adjust guide catheters during PCI procedures may expand the use of the CorPath GRX System to more complex cases.

Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are described in the sections titled "Risk Factors" in the company's filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as well as reports on Form 8-K, including, but not limited to the following: the rate of adoption of our CorPath System and the rate of use of our cassettes; risks associated with market acceptance, including pricing and reimbursement; our ability to enforce our intellectual property rights; our need for additional funds to support our operations; our ability to manage expenses and cash flow; factors relating to engineering, regulatory, manufacturing, sales and customer service challenges; potential safety and regulatory issues that could slow or suspend our sales; and the effect of credit, financial and economic conditions on capital spending by our potential customers. Forward looking statements speak only as of the date they are made. Corindus undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise that occur after that date. More information is available on Corindus' website at http://www.corindus.com.

Source: Corindus Vascular Robotics, Inc.

Corindus Vascular Robotics, Inc.

Media:

Kate Stanton, 508-653-3335 ext. 200

kate.stanton@corindus.com

or

Investor:

Lynn Pieper Lewis, 415-937-5402

ir@corindus.com

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