REDWOOD CITY, Calif., Sept. 07, 2016 (GLOBE NEWSWIRE) -- Avinger, Inc. (NASDAQ:AVGR), a developer of innovative treatments for peripheral artery disease (PAD), today announced it has signed an agreement with HealthTrust. The agreement establishes terms under which members of the HealthTrust group purchasing organization may acquire Avinger’s portfolio of technologies designed to treat PAD, including Avinger’s PantherisTM Optical Coherence Tomography (OCT) image-guided atherectomy system, which recently received 510(k) clearance from the United States Food & Drug Administration (FDA). The agreement becomes effective September 15, 2016.
Pantheris is a minimally invasive treatment for peripheral artery disease in which a catheter-based device is used to remove plaque from a blood vessel. Lumivascular technology utilized in the Pantheris system allows physicians to see from within the artery, enabling them to precisely remove plaque, leaving the healthy arterial structures intact. In addition, Pantheris visualizes the artery without requiring ionizing radiation, or toxic contrast medium (dye) injections, offering the potential to reduce physician, staff and patient X-ray exposure, as well as minimize patient complications related to contrast exposure.
“Better treatment options are needed for patients suffering from peripheral artery disease, who endure painful symptoms and, if left untreated, are at increased risk of heart attack and stroke,” said Jeff Soinski, president and CEO of Avinger. “We are excited that our technologies will now be available to more providers through this agreement with HealthTrust.”
About Avinger, Inc.
Avinger, Inc. is a commercial-stage medical device company that designs, manufactures and sells image-guided, catheter-based systems for the treatment of patients with Peripheral Artery Disease (PAD). PAD is characterized by a build-up of plaque in the arteries that supply blood to the arms and legs. The company’s mission is to dramatically improve the treatment of vascular disease through the introduction of products based on its Lumivascular platform, the only intravascular image-guided system of therapeutic catheters available in this market. Avinger’s current Lumivascular products include the Lightbox™ OCT imaging console, the Ocelot™ family of catheters, which are designed to penetrate total arterial blockages, known as chronic total occlusions, or CTOs, and Pantheris™, the first-ever image-guided Atherectomy device, designed to precisely remove arterial plaque in PAD patients. For more information, please visit www.avinger.com.
About HealthTrust
HealthTrust (legally known as HealthTrust Purchasing Group, L.P.) is committed to strengthening provider performance and clinical excellence through an aligned membership model and the delivery of total spend management advisory solutions that leverage our operator experience, scale and innovation. HealthTrust (www.healthtrustpg.com) serves over 1,400 acute care facilities and members in more than 22,600 other locations, including ambulatory surgery centers, physician practices, long-term care and alternate care sites. Headquartered in Brentwood, Tennessee, HealthTrust is closely integrated with Parallon (www.parallon.com), a leading provider of healthcare business and operational services, including revenue cycle management and technology solutions. On Twitter @healthtrustpg.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding, but not limited to, the expected effectiveness of the agreement with HealthTrust, the potential for Lumivascular to reduce exposure to radiation and contrast media, and the acquisition of Lumivascular technologies by HealthTrust members. Such statements are based on current assumptions that involve risks and uncertainties that could cause actual outcomes and results to differ materially. These risks and uncertainties, many of which are beyond our control, include market conditions and future decisions regarding the Company’s use of cash resources; as well as the other risks described in the section entitled “Risk Factors” and elsewhere in our second quarter Form 10-Q filing made with the Securities and Exchange Commission on August 5, 2016. These forward-looking statements speak only as of the date hereof and should not be unduly relied upon. The Company assumes no obligation to update or supplement forward-looking statements that become untrue because of subsequent events, new information or otherwise.
Investor Contact: Matt Ferguson Avinger, Inc. (650) 241-7917 ir@avinger.com