Catheter Precision, Inc. (NYSE American: VTAK), a prominent U.S.-based medical device company specializing in electrophysiology products, recently disclosed that it has secured approval for two new patents in the European market and Great Britain. This development is expected to significantly enhance the company's intellectual property portfolio, particularly concerning its LockeT line of products.
In addition to a patent granted in Japan in 2023, the recent patents for LockeT bring the total number of issued patents and patent applications to 50. This milestone is indicative of the company's dedication to developing and preserving the distinctive features of its closure product design. The design is already accessible in the United States and is currently undergoing review for the CE Mark designation.
Catheter Precision made significant updates to its board of directors and executive management on January 3, which also involved a change in the Chief Financial Officer position. The company disclosed the termination of Mr. Passey's employment at Catheter Precision, effective December 31, 2023. Subsequent to this decision, the Board of Directors appointed Margrit Thomassen, CPA, as the interim Chief Financial Officer.
The interim CFO appointment became effective on January 2, 2024. Thomassen, who has been a full-time employee at a Catheter Precision subsidiary since 2019, was highlighted as a crucial contributor to the company during her tenure. Notably, she assumed the role of controller after Ra Medical acquired Catheter Precision in January of the previous year.
Moreover, David Jenkins, the interim Chief Executive Officer, officially assumed the role of Chief Executive Officer as of January 2, 2024, while retaining his position as Chairman of the Board. In a development as of December 28, 2023, Susanne Meline resigned from the company's board of directors.
As of January 2, 2024, John Francis took over the position previously held by Meline. The announcement highlighted that Francis, a managing member of Francis Capital Management LLC, assumed the role. Established in 2000, Francis Capital Management LLC specializes in small-cap stocks. With over two decades of experience in finance, accounting, and financial management, Francis brings significant expertise in the medical device industry, particularly with companies featuring a small market capitalization.
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