Catheter Precision enters agreement to acquire PeriKard in all-stock transaction

Catheter Precision (VTAK) entered into a definitive agreement to acquire PeriKard in a transaction involving the issuance of restricted VTAK common stock for 100% of the LLC interests in PeriKard. A total of 275,000 shares of restricted common stock will be issued upon the closing. The closing of the acquisition is subject to normal closing conditions, including the approval of the NYSE/American of the listing of the shares to be issued. The closing is expected to happen by the end of this month. The company said, “PeriKard is a development stage company developing a kit of tools to enable physicians to more easily gain access to the pericardial space of the heart. It is intended that the kit will have both a better needle system and a better drainage system than current alternatives. The pericardium is the thin, fluid filled, sac that surrounds the heart. The pericardium is made up of an outer layer of tissue that holds the heart in place within the chest, protects it from inflammation, and acts as a barrier to infection. It also prevents the heart from stretching out and filling with too much blood which could constrict the heart and impede normal heart function in which case, access to the pericardium is needed to drain the excess fluid. Access is also desirable for ablation for treating arrhythmias outside the heart wall.”