BOCA RATON, FL--(Marketwired - Apr 4, 2013) - Vycor Medical, Inc. ("Vycor") (OTCBB: VYCO) outlined today its multi-pronged strategy to continue to drive adoption for its Vycor Medical division's ViewSite™ Brain Access System ("VBAS").
VBAS is a suite of clear cylindrical disposable devices which provide neurosurgeons a stable, minimally invasive working channel to access targeted sites within the brain, such as tumors. The "blade retractor" has been the standard of care device for brain access and retraction for more than 50 years. VBAS is now approved in over 100 hospitals in the U.S. and the number continues to grow. To date, more than 4,000 surgeries have been performed utilizing VBAS.
Management has a clear plan to continue to drive VBAS adoption with a goal of having the VBAS device become the new "Standard of Care" for brain access and retraction.
Key parts to this strategy include:
- Increased U.S. market penetration through broader hospital coverage and targeted direct physician marketing;
- Provision of more Clinical and Scientific Data supporting not only the products superiority over the blade retractor but also to demonstrate the products potential for cost savings;
- Continued International Expansion by adding new distributors in regions where the Company already has regulatory approvals, but no distribution -- such as Europe and Russia. Vycor currently has international distribution agreements in place for VBAS in Australia, China, Germany, Greece, Holland, Hong Kong, Italy, Japan, Korea, Spain, Sweden, and the UK.
- New Product Development targeted at both driving the use of its existing VBAS product range through ancillaries that will facilitate its use and through new product extensions to broaden VBAS applicability to procedures currently not addressed by its existing product line. Management has estimated, based on AANS statistics by cranial procedure, that there are in the U.S. alone approximately 200,000 annual applicable procedures for its current VBAS device range and an additional 130,000 procedures that could be addressed through product extensions. The Company has two new cranial products in the pipeline that it expects to release during 2013. In addition, the Company is evaluating a spinal product that is in early prototyping.
About Vycor Medical, Inc.
With corporate headquarters in Boca Raton, FL, Vycor Medical, Inc. ("Vycor") is a publicly traded company (OTCBB: VYCO) dedicated to providing the medical community with innovative and superior surgical and therapeutic solutions and has a growing portfolio of FDA-approved medical solutions that are changing and improving lives every day. The Company operates two business units: Vycor Medical and NovaVision, both of which adopt a minimally or non-invasive approach. Both technologies have exceptional sales growth potential, address large potential markets, have the requisite regulatory approvals and are commercialized and generating revenue. The Company has a strong patent portfolio with 32 granted patents and a further 23 patents pending.
Vycor Medical's flagship, ViewSite™ Surgical Access Systems (VBAS) is a suite of clear cylindrical minimally invasive disposable devices that hold the potential for speedier, safer and more economical brain surgeries and a quicker patient discharge. VBAS is designed to optimize neurosurgical site access, reduce patient risk, accelerate recovery and add tangible value to the professional medical community. Vycor Medical is ISO 13485:2003 compliant, has FDA 510(K) clearance for VBAS for brain and spine surgeries and regulatory approvals for brain surgeries in Australia, Canada, China, Europe, Japan, Korea and Russia. For an overview of Vycor Medical's VBAS see http://player.vimeo.com/video/39766887
NovaVision develops and provides science-driven neurostimulation therapy and other medical technologies that help improve and partially restore sight in patients with neurological vision impairments. The company's proprietary Visual Restoration Therapy® (VRT) platform is clinically supported to improve lost vision resulting from stroke, traumatic brain injury ("TBI"), or other acquired brain injuries. VRT is the only FDA 510K cleared medical device in the U.S. aimed at the restoration of vision for neurologically induced vision loss and can be prescribed by any ophthalmologist, optometrist, neurologist or physiatrist. VRT also has CE Marking for the EU. NovaVision also provides Neuro-Eye Therapy (NeET) in the EU, aimed at increasing visual sensitivity deep within the field defect. NovaVision also provides a fully portable and ADA-compliant Head Mounted Perimeter (HMP™) which aids in the detection and measurement of visual field deficits. For an overview of NovaVision see http://player.vimeo.com/video/39765566
For the latest information on the company, including media and other coverage, and to learn more, please go online at www.vycormedical.com or www.novavision.com.
Safe Harbor Statement
Information in this document constitute forward-looking statements or statements which may be deemed or construed to be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecast", "anticipate", "estimate", "project", "intend", "expect", "should", "believe", and similar expressions are intended to identify forward-looking statements. These forward-looking statements involve, and are subject to known and unknown risks, uncertainties and other factors which could cause Vycor Medical's actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. The risks, uncertainties and other factors are more fully discussed in Vycor Medical's filings with the U.S. Securities and Exchange Commission. All forward-looking statements attributable to Vycor Medical herein are expressly qualified in their entirety by the above-mentioned cautionary statement. Vycor Medical disclaims any obligation to update forward-looking statements contained in this estimate, except as may be required by law.