Industry Press Releases

Angel Medical Systems Signs Distribution Agreement for Asia Pacific Region

Thursday, Jun 27, 2019

Angel Medical Systems, Inc. (AngelMed) is pleased to announce that the company has entered into a long-term distribution agreement with Jasper Capital, Ltd. of Singapore, already a major investor in the company, for the Guardian System, the world's first FDA-approved implantable cardiac monitor and patient alerting system for acute coronary syndromes (ACS).    

The multi-year distribution agreement covers Australia, Japan, Hong Kong, Indonesia, Singapore, Thailand, Malaysia, India, and Turkey. These countries represent a combined population of nearly 2 billion people where cardiovascular disease (including heart attacks) is the number one killer.

The terms call for minimum sales of more than 35,000 devices to be sold by Jasper over the life of the Agreement.  Angel Medical Systems CEO Dr. David Fischell released the following statement: "This distribution agreement will have a significant positive impact on the future of AngelMed. We are so excited to begin the process of introducing the Guardian System to the people around the world who are suffering with advanced cardiovascular disease."

The agreement also contains a commitment by Jasper Capital and its affiliates to bear the costs associated with obtaining regulatory approvals, reimbursement, and supporting product sales in the target countries.

As part of the agreement, Jasper has committed to lead a significant investment in AngelMed.  AngelMed and Jasper have already begun the process to initiate the first Asia Pacific implants by early 2020.

About Angel Medical Systems, Inc.

Angel Medical Systems, Inc. was founded in 2001 by Drs. Robert, Tim and David Fischell, active serial entrepreneurs and inventors of medical devices.  It has developed the AngelMed Guardian, the world's first implantable cardiac monitor and alerting system capable of prompting patients to seek medical attention for Acute Coronary Syndrome Events including heart attacks.  The AngelMed Guardian System was approved by the US FDA in 2018 after completing the 1,000 patient ALERTS clinical study and submitting a PMA and PMA Amendment.  The Guardian is indicated for implant in patients with a prior ACS event or heart attack at high risk for another.  It is the only FDA approved device for alerting patients to ACS events and heart attacks that have no symptoms.

About Jasper Capital, Ltd

Jasper Capital, Ltd is a unique private equity firm that has generated $4B+ in shareholder value to date. It has a strong track record in M&A, operations, and company re-structuring, public and private. With its strong presence spanning Silicon Valley, US, Asia, and Australia, it is in a unique position to bring hyper-growth to its portfolio companies.

Forward Looking Statements

Statements made in this press release that look forward in time or that express beliefs, expectations or hopes regarding future occurrences or anticipated outcomes or benefits are forward- looking statements. A number of risks and uncertainties, such as risks related to product development and commercialization efforts, results of clinical trials, ultimate clinical outcomes and benefit of the Company's products to patients, market and physician acceptance of the Company's products, intellectual property protection and competitive product offerings, could cause actual events to differ from the expectations indicated in these forward-looking statements. You are cautioned not to put any undue reliance on any forward-looking statement. This press release is neither an offer to sell nor a solicitation of an offer to purchase any particular securities. Any such offer or solicitation will be made only pursuant to definitive legal agreements prepared specifically for such purpose. An investment in the Company's securities entails significant risks and is suitable only for sophisticated investors who can afford a loss of their entire investment; no assurance can be given that investment objectives will be achieved. In considering the performance information contained herein, you should bear in mind that past performance is not necessarily indicative of future results; there can be no assurance that the Company will achieve comparable results or that any projected returns will be met. The Company 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.

All questions should be directed to:
Karla Bardinas
Think Media Communications
karlab@thinkmedianj.com
732.996.9789

 

Source: prnewswire.com

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