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EDEN PRAIRIE, Minn., Sept. 05, 2018 (GLOBE NEWSWIRE) -- CHF Solutions, Inc. (Nasdaq:CHFS) announced today it has acquired the AcQtrac™ System technology from Vasamed, Inc. The AcQtrac System is a patented, non-invasive device designed to measure cardiac and hemodynamic parameters utilizing impedance cardiography (ICG), which was originally 510k cleared and CE marked.
When appropriate, the company intends to evaluate additional product development and seek additional regulatory clearance before the technology will again be available for commercial use.
“We believe there is an opportunity to leverage this proprietary technology in conjunction with our Aquadex FlexFlow® system by providing clinicians additional hemodynamic information to confidently target how much fluid to remove, manage fluid removal settings, and inform when to stop ultrafiltration,” said John Erb, chairman and chief executive officer of CHF Solutions. “This acquisition, which did not have a material impact on our cash position, provides further evidence of CHF Solutions’ commitment to becoming the global market leader in fluid management. We look forward to demonstrating that the AcQtrac technology will be an invaluable tool to assist in the management of fluid overloaded patients, in both the inpatient and outpatient clinical settings.”
About CHF Solutions
CHF Solutions, Inc. (Nasdaq:CHFS) is a medical device company focused on commercializing the Aquadex FlexFlow system for Aquapheresis therapy. The Aquadex FlexFlow system is indicated for temporary (up to eight hours) ultrafiltration treatment of patients with fluid overload who have failed diuretic therapy, and extended (longer than 8 hours) ultrafiltration treatment of patients with fluid overload who have failed diuretic therapy and require hospitalization. All treatments must be administered by a healthcare provider, under physician prescription, both of whom having received training in extracorporeal therapies. The company's mission is to predict, measure, and control patient fluid balance through science, collaboration, and innovative medical technology. CHF Solutions is a Delaware corporation headquartered in Minneapolis, Minnesota with wholly owned subsidiaries in Australia and Ireland. The company has been listed on the Nasdaq Capital Market since February 2012.
Certain statements in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, the statements regarding the benefits from using the Aquadex FlexFlow, our plans to develop and seek regulatory clearance for a product incorporating the AcQtrac technology, our ability to leverage the AcQtrac technology in connection with our Aquadex FlexFlow system and our ability to demonstrate that the AcQtrac technology will be a useful tool to assist in the management of fluid overloaded patients. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this release, including, without limitation, those risk associated with our ability to execute on our recently announced strategic realignment, the possibility that we may be unable to raise sufficient funds necessary for our anticipated operations, our post-market clinical data collection activities, benefits of our products to patients, our expectations with respect to product development and commercialization efforts, our ability to increase market and physician acceptance of our products, potentially competitive product offerings, intellectual property protection, our ability to integrate acquired businesses, our expectations regarding anticipated synergies with and benefits from acquired businesses, and other risks and uncertainties described in our filings with the SEC. Forward-looking statements speak only as of the date when made. CHF Solutions does not assume any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Claudia Napal Drayton
Chief Financial Officer
CHF Solutions, Inc.
JQA Partners, Inc.