CathWorks and Quest International Announce Global Post-Sales Technical Service Support Partnership

CathWorks and Quest International Announce Global Post-Sales Technical Service Support Partnership

 

 

CathWorks and Quest International Announce Global Post-Sales Technical Service Support Partnership

CathWorks, an original equipment manufacturer (OEM), and Quest International, a global service support provider to the OEMs, announced today they have signed a post-sales technical service support agreement that Quest International becomes the preferred technical service delivery partner for end-to-end service support of CathWorks’ fast-growing install-base of customers globally. CathWorks plans to leverage Quest’s capabilities to accelerate its commercial operations and expand its geographic footprint.

“In pursuit of our mission of partnering with physicians to transform how cardiovascular disease is diagnosed and treated, we have become partners with Quest International because of their deep industry expertise and their ability to provide comprehensive services including depot repairs, field services, supply-chain logistics and other professional services. Quest’s global coverage and scalable resources will augment CathWorks’ growing global commercial footprint while enhancing our customers’ overall experience,” said Ramin Mousavi, President and CEO of CathWorks.

“Having served Fortune 500 companies since 1982, Quest is dedicated to meeting the needs of its OEM customers with a comprehensive suite of services and solutions. Partnering with CathWorks perfectly fits our OEM services offering and provides CathWorks and its end-users a global and reliable one-stop shop for all the CathWorks FFRangio™ System service needs,” said Shawn Arshadi, President and CEO of Quest International.

In addition to growing global presence, both companies have their US headquarters in Irvine, California, an unmatched strategic destination for technology and life science companies. Quest and CathWorks see this partnership as their continued commitment of local economic growth. Both organizations have a long history of partnership with local organizations such as the Greater Irvine Chamber of Commerce and Octane Orange County.

ABOUT CATHWORKS
CathWorks is the leader in digital health innovations that can improve the lives of patients globally. The CathWorks FFRangio™ System combines advanced computational science and artificial intelligence, transforming how cardiovascular disease is diagnosed and treated. It provides physicians access to objective drug-free and wire-free intraprocedural multi-vessel physiology guidance that is practical for every patient. For more information, visit www.cath.works and follow us on Twitter @CathWorks.

ABOUT QUEST INTERNATIONAL
Quest International is a leading global post-sales service support partner for original equipment manufacturers (OEMs) across multiple industries including healthcare, industrial, aviation and government as well as IT Solutions provider for large and small enterprises. Having served Fortune 500 companies since 1982, Quest offers a robust suite of new services and solutions throughout its three business units: OEM Services, IT Services and Technology Solutions. Quest is ISO 9001, 13485, 14001, and ANSI/ESD S20.20 Certified with over 30 operation centers worldwide.

Corporate headquarters are located at 60-65 Parker, Irvine, CA 92618. For more information call 800-231-6777 or visit www.questinc.com.

Quest International and the Quest logo are registered trademarks of Quest International Inc.

Contact CathWorks
Media: Natalie Sickler natalie.sickler@cath.works
Investors: Mike Feher mike.feher@cath.works

Quest International Inc. Brian Grotz bgrotz@questinc.com

CathWorks Presents New Data and Latest Innovations at ACC 2022

CathWorks FFRangio™ System outcomes study to be presented at ACC 2022…
CathWorks announces the completion of more than 5,000 FFRangio cases globally.

CathWorks announced today that the results of its most recent outcomes study on the CathWorks FFRangio™ system will be presented by Dr. Guy Witberg from Rabin Medical Center, Petah Tikva, Israel on Sunday, April 3 at the annual American College of Cardiology (ACC) conference in Washington, DC.

Dr. Witberg and his co-investigators in Israel and Japan examined the 1-year clinical outcomes of 492 patients whose treatment decision was based solely on the CathWorks FFRangio™ System results. “FFRangio has been in use in our cath lab since 2016 and we have taken part in several studies demonstrating its excellent diagnostic performance compared to the gold standard wire-based FFR, culminating in the pivotal FAST-FFR trial and our leading role in conducting a pooled analysis that compared FFRangio to wire-based FFR. Based on the results of these studies, we have been using FFRangio as a standalone tool for physiologic assessment in patients undergoing coronary angiography, and it has become the standard of care in our cath lab replacing wire-based FFR. The data we present at ACC will be the first to examine the clinical outcomes of FFRangio-guided treatment in this population. We are happy to add this outcomes study to the growing body of evidence supporting the broad application of FFRangio in the intraprocedural assessment of patients with coronary artery disease,” said Dr. Witberg.

“CathWorks is grateful for the partnership with the study investigators as we continue to broaden the global clinical adoption of FFRangio and work towards our mission of transforming how cardiovascular disease is diagnosed and treated. We are proud to also announce that we surpassed a major milestone for CathWorks this month with more than 5,000 patients having benefited from our FFRangio technology, and we are determined to help many more,” said Ramin Mousavi, President and CEO of CathWorks.

Not only will CathWorks have a prominent presence in the exhibit hall at ACC 2022 where healthcare professionals can get hands-on experience with the latest generation of the CathWorks FFRangio™ System, its technology will also be showcased at the Future Hub for the duration of the conference. Several scientific sessions at ACC will focus on the growing adoption of angio-based FFR and its role in the management of patients with cardiovascular disease.

ABOUT CATHWORKS

CathWorks is the leader in digital health innovations that can improve the lives of patients globally. The CathWorks FFRangio™ System combines advanced computational science and artificial intelligence, transforming how cardiovascular disease is diagnosed and treated. It provides physicians access to objective drug-free and wire-free intraprocedural multi-vessel physiology guidance that is practical for every patient. For more information, visit www.cath.works and follow us on Twitter @CathWorks.

Contact CathWorks

Media: Natalie Sickler natalie.sickler@cath.works

Investors: Mike Feher mike.feher@cath.works

Mike Feher Appointed as CFO of CathWorks

Mike Feher Appointed as CFO of CathWorks Mike Feher Appointed as CFO of CathWorks

 

KFAR-SABA, ISRAEL & ALISO VIEJO, CA (October 4, 2021) – CathWorks, a global leader of digital health innovation focused on helping patients with cardiovascular disease, announced today that Mike Feher was appointed Chief Financial Officer, effective immediately. 

An energetic and results-driven executive, Mr. Feher brings comprehensive strategic and operational finance experience to his role, including expertise in financial planning and analysis, strategy, investor relations, operational execution, and much more. Most recently, he was Vice President, Business Planning & Development at Allied Universal, the largest private security firm in the world. Before his work at Allied Universal, Mr. Feher held various leadership roles at Edwards Lifesciences, Volcom, and Deloitte. He served as CathWorks Vice President of Finance and CFO from 2019 to 2020.  Mr. Feher holds a B.S. degree in Accounting and Business Administration, with an emphasis in Finance and Economics, from Chapman University and is a licensed CPA. He also earned an M.B.A. in Corporate Finance from Marshall School of Business at the University of Southern California.

“Mike is an exceptional executive and a great partner with a unique ability to toggle between creating value through long-term strategic planning and optimizing resource allocation through disciplined financial execution,” said Ramin Mousavi, Chief Executive Officer of CathWorks. “His fundamental financial knowledge, medical device industry expertise,  strong investor relationships, and ability to analyze, plan, and execute will strengthen our leadership team and will drive our continued execution of our strategic vision.”

“I am thrilled at the opportunity to join the dynamic leadership team at CathWorks and help implement its mission of transforming the diagnosis and treatment of patients with coronary artery disease,” noted Mike Feher. “CathWorks has significant momentum towards its vision of establishing FFRangio as the new standard of care, and I look forward to working with Ramin and the entire organization to deliver meaningful value to patients, our customers, and shareholders every day.”  

About CathWorks

CathWorks is a medical technology company focused on applying its advanced computational science platform to optimize Coronary Artery Disease (CAD) therapy decisions and elevate coronary angiography from visual assessment to an objective FFR-based decision-making tool for physicians. FFR-guided PCI decision-making is proven to provide significant clinical benefits for patients with coronary artery disease and economic benefits for patients and payers. The company’s focus today is specifically on bringing the CathWorks FFRangio™ System to market to provide quick, precise, and objective intraprocedural wire-free FFR guidance that is practical for every case.

CathWorks FFRangio™ System Receives National Reimbursement Approval in Japan

FFRangio System Receives National Reimbursement Approval in Japan

CathWorks announced that the Japanese Ministry of Health, Labour and Welfare (MHLW) has approved the application to provide reimbursement for the CathWorks FFRangio™ System, making it more broadly available for coronary artery disease decision-making in Japan. The CathWorks FFRangio™ System has already received regulatory approval from the Japanese Pharmaceuticals and Medical Devices Agency (PMDA) in December 2019 and is also commercially available in the United States and Europe.

“The FFRangio System enables us to quickly identify the physiologic significance of coronary artery disease (CAD) without the need for traditional pressure wires or hyperemic agents, which provides significant benefits to clinicians and patients,” said Hiroyoshi Yokoi, M.D., President of Fukuoka Sanno Hospital and Vice Chairman, Japanese Association of Cardiovascular Intervention and Therapeutics. “The Japan reimbursement approval is an important step to enable more physicians and patients to have access to this innovative technology.”

“When patients present with suspected CAD, it is important that we can quickly and cost-effectively determine the appropriate treatment plan,” said Hitoshi Matsuo, M.D., President of Gifu Heart Center. “Our facility has been able to experience firsthand how FFRangio combines artificial intelligence, machine learning, and a streamlined user experience to improve the way we manage and treat our patients.”

The FFRangio System is non-invasive and performed intra-procedurally during coronary angiography without adding additional clinical risk or per procedure costs. Clinical trials have demonstrated the FFRangio system is highly accurate compared to traditional wire based fractional flow reserve (FFR) methods. The technology has the potential to positively impact a significant patient population in Japan, where heart disease is the second leading cause of death and coronary artery disease accounts for approximately half of these deaths.1

“The reimbursement approval in Japan is a significant and important milestone for CathWorks” said Ramin Mousavi, CEO of CathWorks. “We are pleased with the early adoption of FFRangio in Japan, and grateful for the tremendous physician support of the technology. We look forward to expanding our commercial presence to make FFRangio and non-invasive CAD decision-making available to more clinicians and patients in Japan and around the world.”

ABOUT CATHWORKS

CathWorks is a medical technology company focused on applying its advanced computational science platform to optimize coronary artery disease (CAD) therapy decisions and elevate coronary angiography from visual assessment to an objective FFR-based decision-making tool for physicians. FFR-guided PCI decision-making is proven to provide significant clinical benefits for patients with coronary artery disease and economic benefits for patients and payers. The company’s focus today is specifically on bringing the CathWorks FFRangio™ System to market to provide quick, precise, and objective intraprocedural wire-free FFR guidance that is practical for every case. For more information, visit www.cath.works.

1 Iso H. Changes in Coronary Heart Disease Risk Among Japanese. Circulation.2008;118:2725-2729

Follow CathWorks

Contact Information:

Ben Brockman, 1.949.966.0284, ben.brockman@cath.works

CathWorks Announces Appointment of Ramin Mousavi as Chief Executive Officer and Board Member

Ramin Mousavi appointed as CEO of CathWorks

KFAR-SABA, ISRAEL & ALISO VIEJO, CA (June 14, 2021), CathWorks , a global leader of digital health innovation focused on helping patients with cardiovascular disease, today announced that Ramin Mousavi has been appointed Chief Executive Officer, effective June 21, 2021. Mr. Mousavi has also been appointed to the company’s Board of Directors. Mr. Mousavi succeeds Jim Corbett, who served as the company’s CEO since October 27, 2017.

A rising star of the medical device industry, Mr. Mousavi has executive leadership and operational experience in general management, marketing, strategy, product development, and commercialization across multiple market segments. Most recently, Mr. Mousavi led the patient monitoring and digital health portfolio at Baxter International. Prior to Baxter, he held various leadership assignments at Edwards Lifesciences. Mr. Mousavi served as CathWorks Vice President of Global Marketing & Strategy and the company’s Chief Marketing Officer from 2019 to 2020. Ramin holds B.S. degrees in Computer and Electrical Engineering from University of California, Irvine. He also earned an M.B.A. from Paul Merage School of Business at UC, Irvine, and received a Healthcare Executive Leadership certificate for Business Innovation in Global Healthcare from Harvard Business School. 

“On behalf of the Board of Directors, I would like to thank Jim for his leadership and many important contributions to Cathworks and I am very pleased to welcome Ramin back to our company,” said Scott Ward, Chairman of the Board of CathWorks. “Ramin’s extensive knowledge of CathWorks innovative technologies—combined with his proven track record of building high-performing teams that design, develop, and launch breakthrough innovative products and programs that help patients—makes him uniquely positioned to lead CathWorks. The Board is confident that under Ramin’s leadership, CathWorks is well-positioned for our next phase of technology innovation, market adoption, and global commercial growth.”

“I am honored and delighted to have the opportunity to lead CathWorks, a company with a transformational product portfolio, exceptionally talented people, and committed investors as well as strategic partners,” commented Ramin Mousavi. “CathWorks’ innovative FFRangio technology has the potential to become the standard of care, enhancing the diagnostic decision making of cardiologists around the world. I look forward to working with our clinician partners, employees, the executive management team, and the Board in our mission to provide clinicians with practical, objective physiology information for every patient they treat, and to deliver meaningful value to our patients, customers, and shareholders.”

About CathWorks

CathWorks is a medical technology company focused on applying its advanced computational science platform to optimize Coronary Artery Disease (CAD) therapy decisions and elevate coronary angiography from visual assessment to an objective FFR-based decision-making tool for physicians. FFR-guided PCI decision-making is proven to provide significant clinical benefits for patients with coronary artery disease and economic benefits for patients and payers. The company’s focus today is specifically on bringing the CathWorks FFRangio™ System to market to provide quick, precise, and objective intraprocedural wire-free FFR guidance that is practical for every case.

CathWorks Announces $30 Million in New Financing

CathWorks reported the completion of a $30 million Series D financing round. Proceeds from the financing will be used to expand commercialization of the company’s FFRangio system.

Jim Corbett, CathWorks CEO stated, “We are delighted to have received this round of funding, which included both new and existing investors. Our initial market launch demonstrated there is tremendous excitement around the clinical value of the CathWorks FFRangio™ System. This funding paves the way for continued commercialization and expanded access to the technology for physicians, hospitals and patients.”

The CathWorks FFRangio System is a non-invasive diagnostic technology that is used at the time of a routine angiography. The CathWorks FFRangio System transforms routine angiogram images into objective and comprehensive physiology information, including color-coded 3D renderings of blood flow in the heart’s arteries to help physicians optimize coronary artery disease decision making, including whether a stent is needed.

“The non-invasive FFRangio system has the potential to become standard of care, providing significant clinical and economic value,” Mr. Corbett added.  “We are very excited for this investment supporting FFRangio market expansion.”

About CathWorks

CathWorks is a medical technology company focused on applying its advanced computational science platform to optimize Coronary Artery Disease (CAD) therapy decisions and elevate coronary angiography from visual assessment to an objective FFR-based decision-making tool for physicians. FFR-guided PCI decision-making is proven to provide significant clinical benefits for patients with coronary artery disease and economic benefits for patients and payers. The company’s focus today is specifically on bringing the CathWorks FFRangio™ System to market to provide quick, precise, and objective intraprocedural wire-free FFR guidance that is practical for every case. For more information, visit www.cath.works.

CathWorks FFRangio™ System Receives Regulatory Approval in Japan

KFAR-SABA, ISRAEL & ALISO VIEJO, CA (December 10, 2019) — CathWorks today announced the approval of The CathWorks FFRangio™ System by the Japan’s Ministry of Health, Labour and Welfare (MHLW).

The CathWorks FFRangio System is a non-invasive diagnostic technology that is used at the time of a routine angiography. The CathWorks FFRangio System transforms routine angiogram images into objective and comprehensive physiology information, including color-coded 3D renderings of blood flow in the heart’s arteries to help physicians optimize coronary artery disease decision making, including whether a stent is needed.

The CathWorks FFRangio System is also commercially available in the United States and Europe. It is noninvasive and performed intra-procedurally during coronary angiography without adding additional clinical risk or per procedure costs. The technology has the potential to positively impact a significant patient population in Japan, where heart disease is the second leading cause of death and coronary artery disease accounts for approximately half of these deaths.1

“The MHLW’s approval of The CathWorks FFRangio System is another important milestone for CathWorks, physicians and patients. It is the first non-invasive device of its kind to receive Japan MHLW approval for use during Percutaneous Coronary Intervention (PCI) and to determine the optimal treatment for patients with coronary artery disease” said Jim Corbett, CEO of CathWorks. “With this approval in Japan, we are positioned to significantly expand our ability to help more clinicians optimize coronary artery disease therapy decisions non-invasively while reducing unnecessary invasive catheterizations and saving costs.”

CathWorks Appoints Chief Financial Officer

KFAR-SABA, ISRAEL and ALISO VIEJO, CA (March 4, 2019) — CathWorks announced that Mike Feher has joined CathWorks as Vice President of Finance and Chief Financial Officer. His appointment coincides with US commercialization of the CathWorks FFRangio™ System. Mr. Feher will initially focus on the development of financial and operational capabilities, as well as creating value for the organization through the execution of company’s strategy.

Mike joins CathWorks with over 13 years of finance and strategy experience in companies such as Edwards Lifesciences, Volcom and Deloitte. That experience includes deep understanding of investor relationships, strategic planning and financial operations. Mike is a certified public accountant. He earned his B.S. in Accounting, Finance and Economics from Chapman University and his MBA from University of Southern California.

Jim Corbett, CathWorks CEO, said of Mike’s appointment, “I am very excited to have Mike join our leadership team. Mike’s strategic mindset and broad financial acumen will be a significant addition to our team. The CathWorks System represents a tremendous opportunity for interventional cardiologists to improve the quality of care and lower costs in the treatment of multi-vessel coronary artery disease. I am confident in Mike’s ability to lead our finance organization as we continue to work towards achieving our strategic plan.”

Mr. Feher said, “I am excited about joining CathWorks and its dynamic leadership team. We look forward to the US commercialization of the CathWorks FFRangio in the next few weeks and cannot wait to see the impact of this transformational technology on patients, physicians, and health systems.”

The CathWorks FFRangio System quickly and precisely delivers the objective FFR guidance needed to optimize PCI therapy decisions for every patient. It is non-invasive and performed intra-procedurally during coronary angiography without adding additional clinical risk or per-procedure costs. The company received U.S. FDA 510(k) clearance for the CathWorks FFRangio Coronary Vascular Physiologic Simulation Software on December 19, 2018.

CathWorks Adds Vice President of Global Marketing to Leadership Team

KFAR-SABA, ISRAEL and ALISO VIEJO, CA (February 25, 2019) — CathWorks announced that Ramin Mousavi has joined CathWorks as Vice President of Global Marketing & Strategy. Mr. Mousavi, an experienced cardiovascular marketer, will take responsibility for the CathWorks FFRangio™ System U.S. clinical and commercial launch and direct future expansion into other global markets.

Mr. Mousavi has over 15 years of global marketing, strategy, product development and general management expertise and is widely recognized for leading one of the most successful cardiovascular device launches of the past decade. Prior to joining CathWorks, Ramin was the head of marketing for Transcatheter Heart Valves in the U.S. at Edwards Lifesciences. Ramin earned B.S. degrees in both computer- and electrical engineering from UC, Irvine. He also earned an M.B.A. from UC, Irvine and received a Healthcare Executive Leadership certificate for Business Innovation in Global Healthcare from Harvard Business School.

Jim Corbett, CathWorks CEO, said of Ramin’s appointment, “I could not be more excited to have Ramin join our leadership team. His analytical and strategic thinking combined with his experience in launching transformational and innovative technology utilizing advanced digital platforms to raise awareness and increase adoption, will be very beneficial as we launch and grow the adoption of the CathWorks FFRangio System in the United States and globally. The CathWorks System represents a tremendous opportunity for interventional cardiologists to improve the quality of care and lower costs in the treatment of multivessel coronary artery disease.”

Mr. Mousavi said, “I am excited to join CathWorks and I know that physicians and patients will greatly benefit from having an objective, non-invasive platform to routinely support PCI (percutaneous coronary intervention) decision-making during the coronary angiogram. Our goal is to ensure that the CathWorks FFRangio system is clinically and economically beneficial for interventional cardiologists, their patients, and the healthcare system overall.”

The CathWorks FFRangio System quickly and precisely delivers the objective FFR guidance needed to optimize PCI therapy decisions for every patient. It is non-invasive and performed intra-procedurally during coronary angiography without adding additional clinical risk or per-procedure costs. The company received U.S. FDA 510(k) clearance for the CathWorks FFRangio Coronary Vascular Physiologic Simulation Software on December 19, 2018.

CathWorks Announces Completion Of $30 Million Financing

Deerfield Management Leads Series C Financing

KFAR-SABA, ISRAEL and ALISO VIEJO, CA (February 4, 2019) — CathWorks announced the completion of a $30 million Series C financing round led by Deerfield Management.

Jim Corbett, CathWorks CEO stated, “We are delighted to have such a notable investor leading this round and for the continued full participation of our existing syndicate of investors. Our company was fortunate to have tremendous excitement around the CathWorks FFRangio™ System following release of the FAST-FFR clinical study results. This funding, coupled with our recent FDA 510(k) clearance, paves the way for acceleration of our clinical and commercial activities in the United States.”

Deerfield Management Principal, Andrew ElBardissi, MD added, “The CathWorks FFRangio platform technology has the potential to become standard of care in PCI [percutaneous coronary intervention] and other interventions where physiologic assessment is critical to determining which patients would benefit from revascularization. We believe there is tremendous clinical and economic potential for all stakeholders, including clinicians, patients, and payors.”

The CathWorks System received United States Food & Drug Administration 510(k) clearance on December 19, 2018. The predicate used for demonstrating substantial equivalence was conventional invasive FFR as demonstrated during the FAST-FFR clinical study. The CathWorks FFRangio System quickly and precisely delivers the objective FFR guidance needed to optimize PCI therapy decisions for every patient across the full coronary tree. It is non-invasive and performed intra-procedurally during coronary angiography without adding additional clinical risk or perprocedure costs.

CathWorks co-founder, Guy Lavi commented, “We are excited for the investment to support FFRangio market entry and continue with technical and clinical acceleration. As always, we want to thank our clinical development partners in Israel, the United States, and Europe for enabling us to reach this exciting milestone.”

Learn how the CathWorks FFRangio System can impact your practice.

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