Medical Ventures Corp.

Medical Ventures Corp.

May 15, 2006 16:00 ET

Medical Ventures to Initiate Direct U.S. Sales Strategy for Metricath Product Line

RICHMOND, BRITISH COLUMBIA--(CCNMatthews - May 15, 2006) - MEDICAL VENTURES CORP. (TSX VENTURE:MEV), a medical technology company specializing in the development and commercialization of cardiovascular and surgical devices, is pleased to announce it is hiring a direct sales team to promote and market the Company's Metricath® System product line in the United States. The Company will have an initial team of seven sales and clinical staff in place before the end of Q2 2006, and will expand the group's size and scope over the next year as the Company receives additional U.S. regulatory approvals for its Metricath Gemini® catheter product.

The patented Metricath technology allows interventional cardiologists, radiologists and vascular surgeons to make key measurements during angioplasty procedures performed to treat heart and arterial disease.

"We are delighted to be welcoming these new members to the Medical Ventures team," said CEO Paul Geyer. "We've hired experienced sales people who have key contacts in the interventional cardiology industry and demonstrated sales success. Hiring our own team to work directly in the large U.S. market is the best strategy to ensure success for the Metricath Gemini and Libra product lines, as well as for related products under development."

The Metricath Libra® product allows physicians to precisely measure arterial size, and to assess correct placement of "stents", expandable metallic tubes implanted in damaged vessels to improve and maintain proper blood flow. The Metricath Gemini is a new, dual-balloon catheter that combines the Libra's measurement technology with the treatment capability of a high-pressure angioplasty balloon. This provides doctors with the ability to both measure and treat damaged vessels using a single, cost-effective catheter.

"A dedicated sales force will be able to focus exclusively on introducing doctors around the country to the substantial clinical benefits of the Metricath System," Geyer said. "Our new team will concentrate on increasing physicians' knowledge of the product to help increase adoption and market penetration. We also anticipate seeing better revenue margins as a result of selling direct."

Medical Ventures will immediately commence direct sales for the Metricath Libra, as well as for peripheral (non-coronary) applications of the Metricath Gemini in select U.S. markets. As a result of its decision to sell the Libra directly in the U.S. market, the Company has issued notice of termination to Possis Medical, Inc. for its existing agreement to distribute the Libra in the U.S.

Medical Ventures Corp. is a medical device company dedicated to developing technologies that address clinical needs in the quickly growing cardiovascular and surgical marketplace. MEV products help doctors treat a wide range of health concerns, including cardiovascular disease, stroke, hernias and obesity. The Company develops and manufactures the patented Metricath® System catheter technology and PeriPatch™, a range of surgical tissue products. For more information please visit

Statements contained herein that are not based on historical or current fact, including without limitation statements containing the words "anticipates", "believes", "may", "continues", "estimates", "expects", and "will" and words of similar import, constitute "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, among others, the following: general economic and business conditions, both nationally and in the regions in which the Company operates; technology changes; competition; changes in business strategy or development plans; the ability to attract and retain qualified personnel; existing governmental regulations and changes in, or the failure to comply with, governmental regulations; liability and other claims asserted against the Company; and other factors referenced in the Company's filings with Canadian securities regulators. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company does not assume the obligation to update any forward-looking statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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