Blog - Announcements

Vasomedical Receives Approvals to Market Its Products in Brazil

  September 2, 2014   By Vaso Corporation announcements , news

Vasomedical to Market and Sell EECP Therapy, BIOX ECG Holter and Ambulatory Blood Pressure Monitoring Products in Brazil

WESTBURY, N.Y. / ACCESSWIRE / September 2, 2014 / Vasomedical, Inc.(“Vasomedical” or “The Company”) (OTCBB: VASO), a diversified medical technology company specializing in the design, manufacture and sale of medical devices for noninvasive cardiology including EECP(R) Therapy systems, the gold standard of external counterpulsation therapy, announced today that it had received approvals from ANIVSA, the government body responsible for the regulation of medical devices in Brazil, to market certain products in that market.  These products include the Lumenair EECP Therapy systems and the Biox ECG Holter and ambulatory blood pressure monitoring systems.

According to the latest World Health Organization (WHO) data, cardiovascular diseases accounted for 31 percent of total deaths in Brazil in 2013 and are the leading cause of death in the country.  With a large, aging population, Brazil represents a significant market for Vasomedical’s products for the diagnosis and treatment of heart diseases. While medical device imports still hold a relatively small share of the market, the annual growth percentage rate has been averaged in double digits lately.

“In the last several years we have been actively seeking growth opportunities for our proprietary devices through various venues including clinical conferences and medical device trade shows, and have been meeting with healthcare professionals from Brazil to identify and create business opportunities to meet the market demand there,” commented Dr. Jun Ma, President and CEO of Vasomedical. “Receiving ANVISA approvals is a major step in the process of entering Brazil, the largest economy and medical device market in Latin America.”

“This untapped territory will enable us to pursue opportunities that we expect will generate additional revenue for the Company in the long term.  As a result of the approvals, we will be able to organize direct and indirect sales channels and work with the local healthcare community to create awareness and acceptance of our products in both the private and public healthcare sectors in Brazil.  We believe this regulatory success will jumpstart our business as we penetrate the South American market,” concluded Dr. Ma.

About Vasomedical

Vasomedical, Inc. is a diversified medical technology company specializing in the manufacture and sale of medical devices and in the domestic sale of diagnostic imaging products.  The Company operates through four wholly owned subsidiaries: Vasomedical Solutions, Inc., Vasomedical Global Corp., Vaso Diagnostics, Inc. d.b.a. VasoHealthcare, and VasoHealthcare IT Corp. Vasomedical Solutions manages and coordinates the design, manufacture and sales of EECP® Therapy systems and other medical equipment operations; Vasomedical Global operates the Company’s China-based subsidiaries; VasoHealthcare is the operating subsidiary for the exclusive sales representation of GE Healthcare diagnostic imaging products in certain market segments; and VasoHealthcare IT is a national value added reseller of GE Healthcare IT’s Radiology PACS (Picture Archiving and Communication System) software solutions and related services, including implementation, management and support.. Additional information is available on the Company’s website at www.vasomedical.com.

Forward Looking Statements 
Except for historical information contained in this release, the matters discussed are forward-looking statements that involve risks and uncertainties. When used in this release, words such as “anticipates”, “believes”, “could”, “estimates”, “expects”, “may”, “plans”, “potential” and “intends” and similar expressions, as they relate to the Company or its management, identify forward-looking statements. Such forward-looking statements are based on the beliefs of the Company’s management, as well as assumptions made by and information currently available to the Company’s management. Among the factors that could cause actual results to differ materially are the following: the effect of business and economic conditions; the effect of the dramatic changes taking place in the healthcare environment; the impact of competitive procedures and products and their pricing; medical insurance reimbursement policies; unexpected manufacturing or supplier problems; unforeseen difficulties and delays in the conduct of clinical trials and other product development programs; the actions of regulatory authorities and third-party payers in the United States and overseas; uncertainties about the acceptance of a novel therapeutic modality by the medical community; continuation of the GEHC agreements; and the risk factors reported from time to time in the Company’s SEC reports.  The Company undertakes no obligation to update forward-looking statements as a result of future events or developments.

Investor Contacts:

Michael Beecher/Amanda Jiang

516-508-5840

 
Media Contacts: 

Larry Liebman/Deanna Goldstein

516-508-5831

SOURCE: Vasomedical, Inc.

Link to iR Direct: http://irdirect.net/pr/release/id/779294