MONTREAL, April 24, 2012 /CNW Telbec/ - April 24, 2012 - Medtronic CryoCath LP today announced that, with the support of the Government of Quebec, it is continuing to expand its Montreal-based Medtronic CryoCath research and development activities, training and manufacturing operations, resulting in new jobs at its two facilities. Since 2009, Medtronic CryoCath has been growing its capacity to supply global markets from its two facilities near Montreal, a project that represents up to 205 new jobs and a combined investment of $50 million into the Quebec economy when it is completed.
Québec Premier Jean Charest, along with Minister of Economic Development, Innovation and Export Trade Sam Hamad, Minister responsible for Native Affairs and Member for Jacques-Cartier Geoffrey Kelley, and President of Medtronic of Canada Neil Fraser, announced the government's contribution of up to $15 million to this project today at the company's Pointe-Claire facility. The contribution will be administered by Investissement Québec.
"By continuing to expand research and development, training and manufacturing operations, Medtronic CryoCath is demonstrating commitment to our presence in Quebec and to providing innovative therapies for patients with atrial fibrillation," said Fraser. "The Arctic Front CryoAblation System was designed and developed in Quebec, and it is especially significant because it brings life-changing therapy to patients around the globe."
"As one of the company's fastest growing divisions, doubling sales each year since 2009, Medtronic CryoCath is important to Medtronic and this is the only site in the world manufacturing this innovative technology. We have actively chosen to maintain our presence in Quebec, and are looking forward to the evolution of the provincial medical technology strategy," added Mr. Fraser.
Medtronic CryoCath conducts cutting-edge research and manufactures catheter ablation products at its Montreal-based locations. More than 95 per cent of the products manufactured at these facilities are exported.
About the Arctic Front Cardiac CryoAblation Catheter System
Cryoballoon-based technology is a novel technique that ablates or blocks the conduction of atrial fibrillation in cardiac tissue through the use of a coolant delivered through a catheter, rather than heat. This freezing technology allows the catheter to adhere to the tissue during ablation, allowing for greater catheter stability. This innovative technology, called the Arctic Front® Cardiac CryoAblation Catheter System, has already been used to treat more than 30,000 patients around the world in the past six years, and has been approved for use in Canada since last year.
The Arctic Front Cardiac CryoAblation Catheter System is designed to be used with fluoroscopy and does not require the use of complex, three-dimensional mapping systems. The technologies currently offered in the system include:
- The Arctic Front Cryoballoon, which inflates and fills with coolant to ablate the tissue where the pulmonary veins enter the left atrium;
- The FlexCath® Steerable Sheath, which helps deliver and position the cryocatheter in the left atrium;
- The Freezor® MAX Cardiac CryoAblation Catheter, which is a single-point catheter used to provide additional ablations, as needed; and
- The CryoConsole, which houses the coolant, electrical and mechanical components that run the catheters during a cryoablation procedure.
About Atrial Fibrillation
Atrial fibrillation is the most common and one of the most undertreated heart rhythm disorders, affecting more than 7 million people worldwide. It is estimated that half of all diagnosed atrial fibrillation patients fail drug therapy, and if left untreated, patients have up to a five times higher risk of stroke and an increased chance of developing heart failure. Additionally, since atrial fibrillation is often age-related, the need for more effective treatment options is escalating as the global population grows older. PAF is a type of atrial fibrillation in which irregular heartbeats in the upper chambers start and stop suddenly on their own, usually for minutes or days at a time.
About Medtronic of Canada Ltd.
Medtronic of Canada is a trusted Canadian leader delivering innovative health system solutions and advanced medical technologies to alleviate pain, restore health, and extend life in the areas of cardiovascular medicine, diabetes, spinal and neurosurgery, and ear, nose, throat surgery.
Medtronic, Inc., headquartered in Minneapolis, is the global leader in medical technology - alleviating pain, restoring health, and extending life for millions of people around the world.
Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic's periodic reports on file with the Securities and Exchange Commission.
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Medtronic of Canada Ltd.
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