Corindus Vascular Robotics (OTC:CVRS) said today that it inked a Japanese distribution deal for its CorPath GRX device that includes a $2 million advance and provision for 12 of the robot-assisted surgery platforms.
The deal with MC Healthcare subsidiary Japan Medicalnext calls for an initial order of a dozen systems within 30 days with a $2 million advance toward the purchase price.
“We are very excited to partner with MC Healthcare Group, a leading healthcare company and distributor of medical devices in Japan,” president & CEO Mark Toland said in prepared remarks. “With our shared vision for advancing the field of vascular robotics, we look forward to introducing our CorPath GRX System to patients and physicians in one of the world’s largest PCI markets.”
“We are pleased to be partnering with Corindus as the exclusive distributor of the CorPath GRX System in Japan,” added MC Healthcare CEO Osamu Miyashita. “We have already received a very strong demand for robotic-assisted PCI from Japanese Key Opinion Leaders and the greater clinical community knowing that robotics has the potential to transform care for patients undergoing PCI procedures.”
The CorPath GRX is designed to assist cardiologists in performing percutaneous coronary interventions, including angioplasty and stent placement.
Waltham, Mass.-based Corindus said its working with Japan MedicalNext to land approval from the Pharmaceutical & Medical Device Agency there as the 1st step toward commercializing Corpath GRX in the Land of the Rising Sun.