Navigation Links
Cardiva Medical, Inc. Completes $15.5 Million Private Equity Financing
Date:5/5/2008

MOUNTAIN VIEW, Calif., May 5 /PRNewswire/ -- Cardiva Medical, Inc., a privately held medical device company, announced today it has closed a $15.5 million private equity financing lead by PTV Sciences. Also investing in this financing were existing investors Galen Partners, Sycamore Ventures, Amkey Ventures, Lexli Investment, and Eminent Venture Capital. Cardiva intends to use the proceeds of the financing for general corporate purposes, including the expansion of its U.S. sales force.

Cardiva also announced that Mr. Rick Anderson, a Managing Director with PTV Sciences will join Cardiva's Board of Directors. Prior to PTV Sciences, Mr. Anderson served as Company Group Chairman, Johnson & Johnson, and Worldwide Franchise Chairman, Cordis Corporation. He was a key architect behind the launch of the world's first drug-eluting stent the CYPHER(R) Sirolimus-eluting Coronary Stent.

"We are delighted that PTV Sciences has joined with Cardiva's current investors to finance the expansion of our direct sales force in the U.S.," said Augustine Lien, Chairman and CEO. "We now have the resources to aggressively expand our customer base. We are also extremely pleased that Rick Anderson is joining our Board of Directors as his experience is ideally suited to assist Cardiva's expansion in the U.S. cardiology market."

"We are extremely excited about Cardiva's growth prospects," commented Rick Anderson. "Cardiva represents an outstanding opportunity to improve patient care by allowing patients to be discharged from the hospital faster without the complications usually associated with vascular closure devices, especially in interventional cardiology."

About Cardiva Medical, Inc.

Founded in July 2002, and headquartered in Mountain View, Calif., Cardiva Medical, Inc. is a privately held medical device company focused on developing and commercializing devices which close the vascular access site with unsurpassed safety and ease-of-use. Cardiva's first product, the Boomerang Wire System, was approved in EU countries and in the U.S. in 2004. Cardiva's second-generation product, the Boomerang Catalyst System, was approved in March 2007 and launched in July 2007. The enhanced Boomerang Catalyst, trade named as "Boomerang Catalyst II System" received 510(K) clearance in September 2007 and launched in January 2008. Cardiva was selected by Frost & Sullivan as the recipient of the 2006 Frost & Sullivan Award for Entrepreneurial Company in the U.S. angioplasty and vascular closure devices market. For additional information about Cardiva please see our website at http://www.cardivamedical.com.

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking words such as "anticipate," "believe," "forecast," "estimated" and "intend," among others. These forward-looking statements are based on Cardiva's current expectations and actual results could differ materially. Cardiva does not undertake an obligation to update or revise any forward-looking statement.

Cardiva, Boomerang and Boomerang Catalyst System are trademarks/registered trademarks of Cardiva Medical, Inc.

Media Contact:

Glenn Foy, President

Cardiva Medical, Inc.

Phone: 650.964.8900, x 215

Fax: 650.964.8911

glenn_foy@cardivamedical.com


'/>"/>
SOURCE Cardiva Medical, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Cardiva Medical, Inc. to Present at the UBS 2007 Global Life Science Conference With the Announcement of FDA 510(K) Clearance of its Newest Device: The Boomerang Catalyst II System(TM)
2. Cardiva Medical, Inc. to Present at the UBS 2007 Global Life Science Conference With the Announcement of FDA 510(K) Clearance of its Newest Device: The Boomerang Catalyst II System(TM)
3. Cardiva Medical, Inc. Appoints Two New Officers: Malcolm Farnsworth as Vice President of Finance and Chief Financial Officer and Tara Zerby as Vice President of Business Development and Marketing
4. Cardiva Medical, Inc. to Present Highlights of the Boomerang Catalyst(TM) II System at the Investment in Innovation (In3) West Conference on February 29, 2008 in Las Vegas, NV
5. Medical, technological advances prompt updating of nuclear medicine technologists scope of practice
6. Thermage, Inc. Announces Distribution Agreement With Eclipse Medical, Ltd.
7. Medical, Behavioral Woes Can Drive Dogs to Bite
8. ReBuilder Medical Technologies, Inc. Announces UK Demand for Safe Molluscum Contagiosum Treatment Leads to Distribution Agreement with UFFE Medical, LTD. Expected 10% Sales Increase.
9. Sedgwick CMS and UnitedHealth Group to Develop Integrated Disability, Medical, Workers Compensation and Leave Administration Services for Employers
10. Emmaus Medical, Inc. Enters Into Sub-License Agreement for Treatment of Short Bowel Syndrome
11. XCPT(TM) Patient Engagement and Communication Software Signs Representation Agreement with Lifecore Biomedical, Inc. (Nasdaq: LCBM)
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/25/2016)... ... ... "With 30 hand-drawn hand gesture animations, FCPX users can easily customize each ... Film Studios. , ProHand Cartoon’s package transforms over 1,300 hand-drawn pictures into hand ... select a ProHand generator and drag it above media or text in the Final ...
(Date:6/25/2016)... City, Oklahoma (PRWEB) , ... June 25, 2016 ... ... helping both athletes and non-athletes recover from injury. Recently, he has implemented orthobiologic ... the Oklahoma City area —Johnson is one of the first doctors to perform ...
(Date:6/24/2016)... , ... June 24, 2016 , ... A recent ... most people are unfamiliar with. The article goes on to state that individuals are ... many of these less common operations such as calf and cheek reduction. The Los ...
(Date:6/24/2016)... ... 24, 2016 , ... Marcy was in a crisis. Her son James, eight, was out of ... verbally and physically. , “When something upset him, he couldn’t control his emotions,” remembers Marcy. ... throw rocks at my other children and say he was going to kill them. ...
(Date:6/24/2016)... ... 24, 2016 , ... Dr. Amanda Cheng, an orthodontist ... has extensive experience with all areas of orthodontics, including robotic Suresmile technology, ... , Micro-osteoperforation is a revolutionary adjunct to orthodontic treatment. It can be used ...
Breaking Medicine News(10 mins):
(Date:6/26/2016)... 2016 Jazz Pharmaceuticals plc (Nasdaq: ... Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended ("HSR"), ... Inc. ("Celator"; Nasdaq: CPXX ) expired effective ... As previously announced on May 31, 2016, ... agreement under which Jazz Pharmaceuticals has commenced a tender ...
(Date:6/24/2016)... , June 24, 2016  Consumers have taken ... regulators/payers have placed more emphasis on patient outcomes. ... support programs in the pharmaceutical industry have evolved ... Consequently, pharmaceutical companies are focusing on becoming more ... providing products and services that improve health. ...
(Date:6/24/2016)... 24, 2016   Bay Area Lyme Foundation ... Dean Center for Tick Borne Illness , Harvard ... MIT Hacking Medicine, University of California, Berkeley, and ... the five finalists of Lyme Innovation , ... than 100 scientists, clinicians, researchers, entrepreneurs, and investors ...
Breaking Medicine Technology: