- February 27, 2023
- Posted by: James Gansman
- Category: News
Rock Creek Advisors (the “Sale Agent”) is contacting you regarding the sale of Corinth MedTech, Inc. (the “Company” or “Corinth”).
Through its first of its kind, single-use product, Veloxion™ System, Corinth aims to become the market leader in treating symptoms of Benign Prostatic Hyperplasia (BPH) and Bladder Tumors. The market implications are staggering, particularly for men. In the US alone, BPH affects nearly half of all men in their 50s, and 70% of men in their 70s; an estimated 40 million men are currently impacted. Bladder Tumors disproportionately affects men’s health and well-being, leading to 120K procedures a year in the US.
The technological benefits for the medical center and patient are intriguing. As the World’s First and Only Single-Use Resectoscope for TURP with Integrated Optics, Light Source and Complete Fluid Management System, the Veloxion™ System merges a disparate suite of products into one streamlined, optimized, user focused platform. For the medical center, the system exhibits cost savings through reduced treatment times, nursing staff assistance, and repair costs. For the patient, the procedure can be done as outpatient due to its hemostatic nature. In a world where medical centers have a heightened level of awareness and responsibility regarding patient safety, device sterility, and cross contamination risks, the Veloxion™ System addresses a prevalent disease affecting millions of people worldwide in an innovative and cost- effective manner.
Corinth was founded in 2014 and is based in San Jose. See Summary Memo link below for some more exciting information on the Company. Additional information can be found at https://corinthmed.com.
The Veloxion™ System has four (4) FDA clearances and Corinth is exploring strategic options to bring the platform to market. Rock Creek is helping find new investors who will help continue the Company’s growth or to sell the Company overall as a going concern entity. We will consider all offers of interest. Term sheets will be due no later than Friday, April 14th, at 5 pm ET, but we will accept indications of interest prior to that time. We require an executed Confidentiality Agreement (see link below) to provide access to a Confidential electronic data room with more company information.
If there is another person at your firm who would be more appropriate to review this matter, please let us know and/or forward this information accordingly. Also, if your firm is not interested in pursuing this opportunity, we’d appreciate knowing in order not to continue to follow up with you.
7-week sale process: Term sheets due Friday, April 14th, at 5 pm ET