Monday November 17, 11:14 am ET
Press Release Source: Sorin Group
MILAN, Italy & CAMBRIDGE, UK--(BUSINESS WIRE)--Sorin Group, (MIL:SRN) (Reuters Code: SORN.MI), a global company and a leader in the treatment of cardiovascular diseases, and Sphere Medical announced today that they have signed an agreement to apply Sphere Medical’s proprietary microsensor technology in the field of cardiopulmonary bypass.
Sorin Group and Sphere Medical have undertaken a feasibility study which included an evaluation of Sphere Medical’s microsensor technology in animal and human blood. Following the successful conclusion of that study, Sorin Group has exercised its option to move to a full development and supply agreement.
Under the agreement, Sorin Group and Sphere Medical will jointly undertake a product development in the cardiopulmonary bypass field. The resulting product will be supplied by Sphere Medical and marketed exclusively on a worldwide basis by Sorin Group. In particular, the microsensor technology will be embedded in Sorin Group’s new family of in-line blood monitors and will contribute to improving clinical outcome for patients undergoing cardiac surgery operations.
In addition to the development and supply agreement, Sorin Group will be making an investment in Sphere Medical equity.
“We are committed to continuing to deliver product and service excellence to support our worldwide leading position and drive market development through technological innovation. The agreement with Sphere perfectly fits within these goals,“ declared Michel Darnaud, President, Cardiopulmonary Business Unit and Intercontinental, Sorin Group.
Stuart Hendry, CEO of Sphere Medical said: “I am delighted that Sphere has established a partnership in the cardiopulmonary space with such a respected player that has global presence and leading market share. We have been working with Sorin Group for some time now and we have established an extremely good working relationship that I look forward to not only making this product a great success but several others that are contemplated for the future.“
About the Sorin Group
The Sorin Group (www.sorin.com), a world leader in the development of medical technologies for cardiac surgery, offers innovative therapies for cardiac rhythm dysfunctions, interventional cardiology, and the treatment of chronic kidney diseases. At the Sorin Group, more than 4,000 employees work to serve over 5,000 public and private treatment centers. Every year, over 1 million patients are treated with the devices of Sorin Group in more than 80 countries.
For more information, please visit: www.sorin.com.
About Sphere Medical
Sphere Medical is developing highly innovative monitoring products to provide clinical and economic benefits in the critical care environment, based on the company’s proprietary microsensor technology. The products allow minimally invasive, real time measurement of clinical chemistry parameters and therapeutic drug concentrations, giving healthcare professionals the information they require to more effectively manage therapy and optimise patient outcomes. Sphere Medical is a private company, founded in 2002 and based in Cambridge, UK.
For more information, please visit www.spheremedical.com.
Contact:
Sorin Group
Martine Konorski
Director, Corporate Communications
Tel: +33 (0)1 46 01 33 78
Mobile: +33 (0)6 76 12 67 73
martine.konorski@sorin.com
or
Carla Vidra
Investor Relations
Tel: +39 02 69969716
carla.vidra@sorin.com
or
Sphere Medical Holding PLC
Dr. Stuart Hendry
Chief Executive Officer
Tel: +44 (0)1223 875222
or
Tim Anderson, Mary-Jane Johnson
Buchanan Communications
Tel: +44 (0) 20 7466 5000
Source: Sorin Group