GALIL MEDICAL LAUNCHES NEW FAMILY OF CRYOABLATION NEEDLES
Arden Hills, MN—DATE October 5, 2015 — Galil Medical, the global leader in interventional oncology cryoablation technology, announced the launch of its latest product offerings:
- IcePearl® 2.1 CX Cryoablation Needle
- IceFORCE® 2.1 CX Cryoablation Needle
The company’s innovative and patented needle design characteristics of these new needles offer the largest iceball via the narrowest needle shaft diameter on the market today. IcePearl 2.1 CX and IceFORCE 2.1 CX will feature Galil Medical’s proprietary “CX” capabilities, which allow for helium-free active thaw (i-Thaw® or FastThaw™), along with a track ablation option to address physicians’ concerns regarding track seeding. The “CX” track ablation feature is also available on other Galil cryoablation needles.
Available in both straight and 90°configurations, these new products will be well suited for use in a multitude of clinical settings. Given the increasing scrutiny in today’s healthcare environment, the fact that these needles do not require the use of costly and scarce helium will appeal to hospitals from both an economic and environmental perspective. In addition, IcePearl 2.1 CX and IceFORCE 2.1 CX consume significantly less argon gas than other needles and probes currently available in the market.
The launch of IcePearl 2.1 CX and IceFORCE 2.1 CX cryoablation needles are the most recent examples of Galil Medical delivering on its long-standing commitment to innovation. “We have invested millions of dollars over the past five years in new product development, robust clinical research and critical reimbursement initiatives,” said Martin J. Emerson, Galil Medical President and CEO. “Our other recently introduced products, IceRod® 1.5 PLUS, IceSphere® 1.5, IceEDGE® 2.4, IceRod® 1.5 CX needles and the Visual-ICE® Cryoablation System, have been very positively received in the marketplace. Our clinical research studies, which include TRACE, ECLIPSE, SOLSTICE, EuRECA, EuCAP and MOTION, are delivering the strong clinical data that physicians are seeking to support treatment decisions for their patients. Further, we continue to lead the industry in supporting key reimbursement initiatives around the world.”
The company expects that the IcePearl 2.1 CX and IceFORCE 2.1 CX needles will allow Galil Medical to continue to generate strong revenue growth and deliver on its commitment of achieving positive EBITDA and positive cash-flow within 18 months.
About Galil Medical Galil Medical is a global leader in delivering innovative cryoablation solutions. The company is addressing patient conditions across multiple physician specialties. Treatment areas and clinical research priorities include conditions affecting bone, kidney, liver, lung and prostate, as well as targeted pain and nerve applications. Company offices are located in Arden Hills, Minnesota and Yokneam, Israel. Shareholders include Thomas, McNerney & Partners, The Vertical Group, and Investor Growth Capital.
|Martin J. Emerson
President and CEO
Tel: +1 651 287 5050
Vice President, Chief Financial Officer
Tel: +1 651 287 5052