Aug 29 2012
Catheter Connections, Inc., a leading developer of disposable devices
for preventing blood stream infections caused by vascular access
devices, today announced that it entered into an exclusive distribution
agreement with Merit Medical Systems, Inc. (Nasdaq: MMSI), a leading
manufacturer and marketer of proprietary disposable devices used
primarily in cardiology and radiology.
Under the agreement, Catheter Connections can receive up to $1M in
up-front payments and additional revenue from product sales for
providing Merit with rights to exclusively distribute Catheter
Connection's proprietary disinfection technology in the fields of
interventional radiology and interventional cardiology. The products
provided under the agreement include Catheter Connections' DualCap®
technology for IV connector disinfection and protection. Merit has
exercised its option under the agreement to secure the exclusive right
to distribute Catheter Connections' proprietary male luer disinfection
technology.
The distribution agreement follows the most recent patent issued by the
United States Patent and Trademark Office, titled "Disinfecting Caps For
Medical Male Luer Connectors," which broadly covers Catheter
Connections' male luer disinfection technology. Only Catheter
Connections has patent protection, as well as FDA clearance, to market a
device to disinfect and protect male luer connectors attached to the end
of IV tubing lines.
Vicki Farrar, Chief Executive Officer of Catheter Connections, said, "We
look forward to the association with Merit. Merit's impressive track
record of innovation and growth, in addition to its global marketing
resources, will expedite the commercialization of our DualCap®
technology and increase patient safety. This agreement validates our
superior position in the IV disinfection market in terms of both our
intellectual property and our ability to help hospitals reduce
bloodstream infections."