Wednesday, July 10, 2019
Argon Medical Devices, Inc., a leading global manufacturer of specialty medical devices used in interventional procedures, announced today that it has entered into a definitive license agreement with Hatch Medical, L.L.C. ("Hatch Medical") for exclusive global rights to market and distribute the Scorpion™ TIPS Access Systems.
"We are excited about the addition of the Scorpion TIPS Access Systems to our product portfolio. This technology is positioned to become the leader in this disease segment and we are confident it will prove to be the preferred device of its kind," said George A. Leondis, President and CEO of Argon Medical Devices, Inc. "This partnership provides a compelling strategic opportunity for Argon, allowing us to provide our customers with another best in class product in the Interventional arena."
"We are pleased to have secured such a strong partner for this procedure-changing product line. Argon Medical is recognized as a world class manufacturer with tremendous depth and global distribution resources," commented Paul Gianneschi, Managing Principal and Founder of Hatch Medical.
A transjugular intrahepatic portosystemic shunt (TIPS) is a tract created within the liver using x-ray guidance to connect two veins within the liver. Patients who are in need of TIPS procedures commonly suffer from portal hypertension, often caused by hepatitis c and alcohol related cirrhosis.
"The addition of the Scorpion TIPS Access Systems into our product portfolio further strengthens Argon's ongoing commitment to the diagnosis and the treatment of patients with liver disease," said Christian A. Chilcott, Senior Vice President of Global Marketing for Argon. "It's estimated that approximately 4.5 million people are diagnosed with liver disease each year, with over 40,000 cases being fatal. The Scorpion TIPS Access Systems are the first liver access sets to provide physicians the ability to reliably control the direction and angle of the needle tip, reducing the number of unsuccessful procedures."