Vancouver, British Columbia--(Newsfile Corp. - November 2, 2016) - CVR Medical Corp. (TSXV: CVM) ("CVR Medical") has entered into agreements with Tekna Incorporated, who will design and manufacture the cart for its "Carotid Stenotic Scan" (CSS) device.
Tekna, Inc. is a Southwest Michigan-based product development firm and ISO 13485 certified medical device manufacturer. Its diverse list of clients includes some of the most well known brands in contemporary technology. From their dual state-of-the-art facilities, they provide concept-to-distribution solutions that will help ensure full realization of CVR Global and CVR Medical's groundbreaking instrument. The relationship marks a pivotal step in that process, and is a source of great confidence and excitement for both companies.
Tekna, Inc. Vice President Mike Rozewicz states, "As a design-focused organization with over 30 years of experience with medical devices, we really aim to impact peoples' lives. We pride ourselves on having capabilities not found anywhere else in the U.S., especially in the clinical environment, where we have developed over 400 products. We are thrilled to work with CVR on a project that we believe will have a profound effect on stenosis and stroke prevention."
Tekna's core competencies of engineering and logistical management are rooted in a history of award-winning cart design and prototype pilot testing to meet FDA standards. CVR will leverage these capabilities, along with Tekna's unique in-house branding services, to prepare a clear path to commercialization of the CSS device.
For additional information on the organization, leadership, and current news please visit the newly launched company website www.CVRMed.com
About CVR Medical
CVR Medical is a company that is involved in an equal parts joint venture with CVR Global Inc. (the "Joint Venture"). The Joint Venture operates in the medical industry focused on the commercialization of a proprietary subsonic, infrasonic, and low frequency sound wave analysis technology and has patents to a diagnostic device designed to detect and measure carotid arterial stenosis. CVR Medical is managed by a proven technical team. CVR Medical trades on the TSX Venture Exchange under the symbol CVM.
ON BEHALF OF THE BOARD:
(signed) "Peter Bakema"
CEO, President & Director
For further information contact:
Peter Bakema, CEO, President and Director
Telephone: (734) 718-5115
Email: info@cvrmed.com
or
Brisco Capital Partners Corp.
Scott Koyich, President
Telephone: (403) 262-9888
This press release contains forward-looking information that involves various risks and uncertainties regarding future events related to the Joint Venture. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with commercialization of technology and the practice of medicine, (3) a change in health regulations, (4) any number of events or causes which may delay or cease commercialization and development of the Joint Venture, (5) the risk that the Company or the Joint Venture does not execute its business plan, (6) inability to retain key employees, (7) inability to finance operations and growth, and (8) other factors beyond the Company's control. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.
THE TSX VENTURE EXCHANGE INC. HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS PRESS RELEASE. NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
