Medicalcv (MM) (NASDAQ:MDCV)
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MedicalCV Announces Retention of ROI Group Associates, Inc. as
Its Investor Relations Firm
MINNEAPOLIS, Jan. 31 /PRNewswire-FirstCall/ -- MedicalCV, Inc. (OTC Bulletin:
MDCV), http://www.medcvinc.com/ , a cardiovascular surgery device manufacturer,
focusing on surgical needs surrounding atrial fibrillation ("AF"), announced
today that it has retained ROI Group Associates, Inc., http://www.roiny.com/ ,
of New York, as its investor relations firm.
In announcing the initiative, Marc P. Flores, President and Chief Executive
Officer of MedicalCV, Inc. said, "As we expand beyond the mechanical heart
valve business, our objective is to reach out to a wide audience, thereby
increasing the visibility and awareness of MedicalCV in the investment
community. We have retained ROI Group Associates to implement our continuing
investor relations. We believe that there are so many exciting and innovative
developments within the AF market and that this is the right time for MedicalCV
to become a recognized player in the industry."
He continued, "We believe that MedicalCV's core business of manufacturing
cardiovascular surgery devices, specifically the Company's ATRILAZE(TM)
Surgical Ablation System, which is focused on surgical needs surrounding
cardiac tissue ablation, is in its infancy and rapidly gaining traction.
Industry estimates of expenditures in the AF market, for a minimally invasive,
closed-chest, beating heart AF stand-alone procedure, are expected to reach
$1.5 billion in annual revenues by 2008, according to Health Research
International's October 2002 market report."
Earlier this week, the Company announced a successful completion of its first
U.S. clinical case using the AtriLaze(TM) surgical ablation system in
open-heart surgery. This surgery represents a further milestone in the
Company's goal of providing a better treatment solution for ablating cardiac
tissue. Two cardiothoracic surgeons at leading hospitals in Texas have used
the AtriLaze(TM) system for cardiac tissue ablation during the past week and
have indicated that they will be incorporating the technology into future
surgical procedures.
Mr. Flores continued, "With all of these growth opportunities we have
identified in our business, and milestones that management is focused on, we
believe it is the appropriate time to improve our communications with the
financial community. ROI Group Associates has considerable experience in
implementing investor relations strategies in order to maximize shareholder
value. Additionally, they will work to strengthen our position with our
existing investor base. We believe that the increased visibility will enhance
our opportunities for new business for future growth," he concluded.
About MedicalCV, Inc.
MedicalCV, Inc., a cardiovascular surgery device manufacturer, focuses on the
design, development and commercialization of new, improved and enhanced
technologies, products, methods and techniques to treat cardiovascular
disorders and disease, including products targeting the treatment of atrial
fibrillation ("AF"). Historically, MedicalCV developed and marketed
Omnicarbon(R) mechanical heart valves utilizing its proprietary pyrolytic
carbon processes. Although the Company has ceased manufacturing new heart
valves it continues to maintain the mechanical heart valve business, supporting
customers and distributors during the divestiture process. The Company is
concentrating its resources on the AF market. The Company's core technology is
the AtriLaze(TM) surgical ablation system, for use in cardiac tissue ablation
in surgery, which the Company acquired on August 27, 2003 and for which it
received FDA 510(k) clearance on November 30, 2004. The Company's common stock
is traded on the OTC Bulletin Board under the symbol "MDCV."
For further information on MedicalCV, Inc., please visit
http://www.medcvinc.com/ .
You may register to receive MedicalCV's future press releases and to be added
to the Company's distribution list by visiting: http://www.roiny.com/form.php .
This release contains certain forward-looking statements of expected future
developments, as defined in the Private Securities Litigation Reform Act of
1995. The forward-looking statements in this release refer to our expectations
regarding enhanced visibility for our Company, developments within the AF
market, market acceptance of our AtriLaze(TM) surgical ablation system, market
estimates for the AF market and enhanced business opportunities for our
Company. These forward-looking statements reflect management's expectations
and are based on currently available data; however, actual results are subject
to future risks and uncertainties, which could materially affect actual
performance. Risks and uncertainties that could affect such performance
include, but are not limited to, the following: the Company's ability to fund
significant capital needs; market acceptance in the U.S. of the Company's
cardiovascular products; acceptance of minimally invasive techniques for the
reduction of atrial fibrillation through surgical cardiac tissue ablation;
potential reductions in pricing by competitors; the costs of licensing and
acquiring new products and technologies; the time and costs involved in
obtaining regulatory clearance for cardiovascular products; competing
technological and market developments; surgeon acceptance of the Company's
cardiovascular products; dependence upon governmental reimbursements and third
party suppliers; and the strength of the market for cardiovascular products.
For more detailed information about these risks and uncertainties, please
review the Company's SEC filing on Form 8-K filed January 6, 2005.
These events and uncertainties are difficult or impossible to predict
accurately and many are beyond the Company's control. The Company assumes no
obligation to publicly release the results of any revisions that may be made to
any forward-looking statements to reflect events or uncertainties after the
date of such statements or to reflect the occurrence of anticipated or
unanticipated events.
DATASOURCE: MedicalCV, Inc.
CONTACT: John H. Jungbauer, Vice President, Finance and CFO of
MedicalCV, Inc., +1-651-452-3000, , or Investor
Relations, Robert Giordano, President, +1-212-495-0200 ext. 10,
, or Sarah Shepard, Vice President, +1-212-495-0200
ext. 17, , both of ROI Group Associates, Inc.
Web site: http://www.medcvinc.com/
http://www.roiny.com/