VANCOUVER, BC / ACCESSWIRE / January 11, 2018 / CVR Medical Corp. (TSX.V:CVM.V) (FRANKFURT: B3BN) (OTCQB: CRRVF) (“CVR Medical“) is pleased to announce the signing of an official Memorandum of Understanding with the Seoul Metropolitan Government (SMG) of the Republic of South Korea. The Understanding states the mutual interest and intended collaboration on new business opportunities as part of CVR’s global market expansion and the South Korean government’s initiative to revitalize its bio-medical device industry.
The Memorandum, signed at the turn of Y2018, signals growing confidence and anticipation for CVR’s launch of the “Carotid Stenotic Scan (CSS)” device, a non-invasive, non-emitting detector of carotid artery stenosis. Through its partnership with the SMG, CVR will be positioned to take advantage of a vast, growing Asian-Pacific market while leveraging Seoul’s financial, administrative, and R&D capacities.
As a company with patents on novel technologies and an approaching shift into sales and marketing on the global stage, CVR brings to Seoul a wealth of opportunity to share in this process and its subsequent adaptations with South Korean bio-venture firms, hospitals and universities.
“This announcement is a true look into the future of our company and how it can impact lives on a global scale,” says CVR CEO Peter Bakema. “We believe that working with the Seoul Metropolitan Government will not only bear fruit in a market expansion and industry revitalization sense, but will gain both parties access to the kind of diverse, cutting-edge resources and information that will allow us to compete with the world’s foremost companies in the bio-tech and medical device sectors. We’re extremely proud and look forward to all the possible developments to come from this partnership.”
About CVR Medical
CVR Medical is a company that is involved in an equal parts joint venture with CVR Global Inc. (the “Joint Venture”). The Joint Venture operates in the medical industry focused on the commercialization of a proprietary subsonic, infrasonic, and low frequency sound wave analysis technology and has patents to a diagnostic device designed to detect and measure carotid arterial stenosis. CVR Medical is managed by a proven technical team. CVR Medical trades on the TSX Venture Exchange under the symbol CVM.
For further information contact:
Brisco Capital Partners Corp.
Scott Koyich, President
Telephone: (403) 262-9888