Medtronic (NYSE:MDT) subsidiary Physio-Control will partner with a California company to distribute its cardiac medical device in Europe and develop new uses to ready it for launch in the United States.
Physio-Control and BeneChill will work together to launch the RhinoChill IntraNasal Cooling System in Europe. RhinoChill’s device distributes coolant via a catheter in the nose that lowers the body’s core temperature immediately following cardiac arrest, stroke or traumatic brain injury to help avoid brain damage.
The two companies will distribute the device in the United Kingdom, Germany, Austria, Switzerland, Belgium, Netherlands and Luxembourg in the coming months. Then, the businesses will research additional applications and work to get the RhinoChill distributed in the United States.
When Investment Rhymes with Canada
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
Physio-Control, part of Medtronic’s Cardiac and Vascular Group, has lately worked to improve its product line and make strategic partnerships meant to stabilize its performance in the Medtronic portfolio. In November, Medtronic unveiled Lifenet System 5.0, which allows emergency medical teams and hospitals to remotely manage and monitor patients’ defibrillators. Plus, Physio-Control partnered with AirStrip Technologies, a maker of mobile medical software.
Physio-Control’s sales were up 16 percent in the second quarter previous quarter and 1 percent for the first six months of Medtronic’s fiscal year.
