Cardiovascular Systems, Inc. Announces Investment and Acquisition Option Agreement With Telehealth Company, CarePICS, LLC
PAD is a progressive disease affecting at least 18 million Americans. Left untreated and poorly managed, PAD can lead to severe pain, immobility, non-healing wounds and amputation. CarePICS is the first technology-enabled care management tool specifically designed for the treatment of patients with this disease. CarePICS allows a multidisciplinary group of physicians to communicate with each other and patients throughout the care continuum. As a result, they reach more patients in need, promptly intervene when appropriate and provide coordinated follow up care to improve patient outcomes.
Through a secure iOS, Android and Web platform, CarePICS uniquely empowers podiatrists, skilled nursing facilities, home health agencies, wound care providers and primary care physicians to capture patient information, wound images and measurements. Leveraging this information, they can accelerate patient access to care by rapidly acquiring input from interventionalists through specialty telehealth consults before arterial or venous wounds begin to deteriorate. The platform’s features can also be utilized by physicians after vascular treatment to coordinate, follow and support wound healing progress.
Terms of CSI’s minority investment in
About Peripheral Artery Disease (PAD)
As many as 18 million Americans, most over age 65, suffer from PAD, which is caused by the accumulation of plaque in peripheral arteries reducing blood flow. Symptoms include leg pain when walking or at rest. Left untreated, PAD can lead to severe pain, immobility, non-healing wounds and eventually limb amputation. With risk factors such as diabetes and obesity on the rise, the prevalence of PAD is growing at double-digit rates.
Millions of patients with PAD may benefit from treatment with orbital atherectomy utilizing the Stealth 360® and Diamondback 360® Peripheral Orbital Atherectomy Systems, minimally invasive catheter systems developed and manufactured by CSI. These systems use a diamond-coated crown, attached to an orbiting shaft, which sands away plaque while preserving healthy vessel tissue — a critical factor in preventing reoccurrences. Balloon angioplasty and stents have significant shortcomings in treating hard, calcified lesions. Stents are prone to fractures and high recurrence rates, and treatment of hard, calcified lesions often leads to vessel damage and suboptimal results.
Certain statements in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and are provided under the protection of the safe harbor for forward-looking statements provided by that Act. For example, statements in this press release regarding (i) the benefits of the CarePICS technology, including its potential to accelerate patient access and result in improved care and reduced amputations; (ii) the potential acquisition of CarePICS by CSI; and (iii) the potential benefits of the outcome data being gathered through the CarePICS platform, are forward-looking statements. These statements involve risks and uncertainties that could cause results to differ materially from those projected, including, but not limited to, the ability of CarePICS to grow its network; the effectiveness of the CarePICS platform; satisfaction of acquisition conditions; technical challenges; regulatory developments; the experience of physicians regarding the effectiveness and reliability of products sold by CSI; the reluctance of physicians, hospitals and other organizations to accept new products; the impact of competitive products and pricing; general economic conditions; and other factors detailed from time to time in CSI’s
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Vice President, Investor Relations & Corporate Communications