Ra Medical Systems to Merge with Catheter Precision

Ra Medical Systems, which manufactures the DABRA excimer laser and catheters for the treatment of certain vascular diseases, entered into an agreement and plan of merger with privately held Catheter Precision Inc., a medical technology company focused on the field of cardiac electrophysiology. Under the terms of the agreement, Catheter Precision will become a wholly owned subsidiary of Ra Medical in a stock for stock reverse merger transaction.

If completed, the merger will result in a combined publicly traded company that will focus on the cardiac electrophysiology market. Catheter Precision stakeholders are expected to own approximately 80% of the combined company, and pre-merger Ra Medical equity holders are expected to own approximately 20% of the combined company.

David Jenkins will act as CEO of the combined company. Before taking the role as CEO of Catheter Precision, Jenkins operated several medical device startups, including Transneuronix, acquired by Medtronic in 2005, and EP MedSystems, which was acquired by St. Jude Medical in 2008.

The merger is expected to close before the end of 2022, and follows news this spring when Ra Medical signed a term sheet with Catheter Precision to acquire the company, which was publicly disclosed in July.