CVR Medical Announces Prospective Collaboration with Canon Financial Services for Leasing of Carotid Stenotic Scan (CSS)

DENVER, NC / April 15, 2019 / CVR Medical Corp. (CVM.V) (TSXV: CVM) (OTCQB: CRRVF) (“CVR Medical”) a Canadian listed and US based healthcare company in the medical device sector, announced that it is currently in negotiations with Canon Financial Services, Inc.(CFS), a wholly owned subsidiary of Canon U.S.A., Inc., to provide leasing services for CVR Medical’s Carotid Stenotic Scan (CSS)  line of products to the healthcare market. This agreement will expand the relationship between CVR and the Canon group company, Canon Virginia, Inc., which is currently contracted for the manufacturing of the CSS.

The arrangement with CFS would represent an important step in CVR Medical’s progress toward increasing the accessibility of early-stage care for vascular disease.  With best-in-class services for end-user financing solutionsand the global strength of the Canon brand, a broad spectrum of clinical professionals, including primary care physicians, would be able to incorporate the CSS into their everyday practices with confidence and financial flexibility.  

Peter Bakema, CVR Medical’s Chief Executive Officer, states, “We believe that the future of vascular care lies in the highly-accurate, non-invasive, diagnostic technique that the CSS is designed to offer.  It is our intention to not only provide value for large institutional medical providers, but also to make our technology available to office-based clinicians.  We are proud to expand our relationship with Canon. We feel that this new financial collaboration will help to significantly increase the CSS’s market entry potential once FDA approval is received and simultaneously enhance the financial strength of our organization.”  

“As a true captive leasing company our goal is to provide best in class products and services to our Canon family of products”, stated Dominic Janney Vice President of Sales and Servicing for CFS.     We are honored to have been selected by CVR Medical to not only assist with a solution which will lower the total cost of ownership of their product, but to also be a partner in their journey.   We look forward to this exciting new opportunity and creating products and programs that will address the changing needs of the customers through innovation and best in class service.

About CVR Medical

CVR Medical Corp. is a healthcare company that operates in the medical device industry focused on the commercialization of its disruptive, proprietary Carotid Stenotic Scan (CSS). The CSS device is a diagnostic tool that encompasses subsonic, infrasonic, and low frequency sound wave analysis technology. The CSS is a patented device designed to detect and measure carotid arterial stenosis. CVR is currently in pivotal clinical trials in preparation for its planned submission to the FDA. CVR is led by an experienced and proven team of professionals with extensive healthcare, medical device, international expansion, regulatory and sales experience. CVR Medical trades on the TSX Venture Exchange under the symbol CVM. Additional information regarding the Company can be found in our recent filings with the SEDAR as well as the information maintained on our website at www.cvrmed.com

ON BEHALF OF THE BOARD:
(signed) “Peter Bakema”
CEO, President & Director

Peter Bakema, CEO, President and Director
Email: info@cvrmed.com
or
Marc S. Lubow, Executive Vice President
Email: marclubow@cvrmed.com

This press release contains forward-looking information that involves various risks and uncertainties regarding future events related to the Joint Venture and the proposed Financing. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements and are not guarantees of future performance of the Company. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause our actual results to differ materially from those expressed or implied by the forward-looking statements, including: (1) a downturn in general economic conditions in North America and internationally, (2) the inherent uncertainties and speculative nature associated with commercialization of technology and the practice of medicine, (3) a change in health regulations, (4) any number of events or causes which may delay or cease commercialization and development of the Joint Venture, (5) the risk that the Company or the Joint Venture does not execute its business plan, (6) inability to retain key employees, (7) inability to finance operations and growth, and (8) other factors beyond the Company’s control. These forward-looking statements are made as of the date of this news release and, except as required by law, the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements.

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