IRRAS has signed a commercial agreement with Medtronic, starting with a pilot phase where Medtronic will have the exclusive right to promote the IRRAflow system in certain sales territories in the United States.
The world headquarters of Medtronic, Fridley, Minnesota, USA. (Credit: Bobak Ha'Eri from Wikimedia Commons)
IRRAS, a commercial-stage medical technology company with a comprehensive portfolio of innovative products for neurocritical care, today announced it has signed a Sales Agency Agreement to promote its IRRAflow system in the United States with Medtronic, a global leader in healthcare technology.
During the initial pilot phase of the agreement, Medtronic shall have the exclusive right to promote IRRAflow in a select number of its territories in the United States. The IRRAS neurocritical education team will closely support the Medtronic sales professionals to train new customers, fulfill customer orders, and support patient treatments within these designated territories.
In areas of the United States that are not governed by this Sales Agency Agreement, IRRAS’ team of sales professionals will continue to directly promote IRRAflow to stroke center customers.
“Medtronic is a company that is unsurpassed in its focus on therapies that extend life, restore health, and improve patient outcomes,” said Will Martin, President and Chief Executive Officer of IRRAS. “As the largest medical device company in the world, Medtronic is the ideal partner to accelerate the commercial launch of our IRRAflow system in the world’s largest market. This partnership will build broader awareness of IRRAS’ cutting-edge technology and will ensure that more patients with intracranial bleeding can receive the latest available advances in treatment.”
At the current time, IRRAS’ previously stated financial targets remain unchanged. As the partnership with Medtronic matures, IRRAS will assess the impact of the shift in its sales strategy on these targets and will provide all needed updates in a timely fashion.
About the IRRAflow Active Fluid Exchange System
Patients that suffer from intracranial bleeding historically have suffered from subpar clinical outcomes due to the inherent shortcomings of passive drainage catheters that are used to drain excess fluid and remove collected blood within the brain. Traditional drainage catheters experience unacceptably high rates of complications, such as catheter occlusions, insufficient drainage, and infection, that are well documented in clinical evidence, and the IRRAflow system has been designed to address such shortcomings and advance treatment options for these critically ill patients
Source: Company Press Release