OPSENS PROVIDES OPERATIONAL UPDATE
Continues to supply essential cardiovascular solutions to patients around the world
Quebec City, Quebec, March 24, 2020 – OpSens Inc. (“OpSens” or the “Company”) (TSX:OPS) (OTCQX:OPSSF), a cardiology-focused company delivering diagnostic and treatment solutions based on its proprietary optical technology, today provided a business update in light of recent action taken by the province of Quebec regarding COVID-19.
OpSens, which manufactures and distributes the OptoWire, a guidewire for physiological measurement used to determine the severity of blockages in patients with coronary artery stenosis as well as products utilized in ventricular assist devices, is exempt from the Quebec province order to close non-essential businesses until April 13, 2020. OpSens has, and will continue to, meet the needs of doctors and patients around the world who have come to rely upon the Company’s essential diagnostic and treatment solutions.
Thus far, the Company has had no manufacturing, supply chain, or distribution disruptions and has continued to fulfill orders to customers in each of its key geographies, including Japan, Europe, the United States and Canada.
During these uncertain times, the Company is greatly appreciative of its talented and dedicated employees. To safeguard their health and to ensure manufacturing continuity, the Company has implemented a series of proactive measures including the division of labor to multiple shifts and conversion of certain office employees to work remotely.
Louis Laflamme, President and Chief Executive Officer of the Company, commented, “We are taking the necessary precautions to maintain the health, well-being and safety of our employees and providing uninterrupted services to our customers. OpSens is committed to meeting the needs of the medical community and ensuring we supply cardiologists with solutions that can positively impact their patients’ lives.”
OpSens focuses mainly on physiological measurements, such as FFR and dPR in interventional cardiology. OpSens offers an advanced optical-based pressure guidewire that aims at improving the clinical outcome of patients with coronary artery disease. Its flagship product, the OptoWire, is a second-generation fiber optic pressure guidewire designed to provide the lowest drift in the industry and excellent lesions access. The OptoWire has been used in the diagnosis and treatment of over 80,000 patients in more than 30 countries. It is approved for sale in the United States, European Union, Japan, and Canada.
OpSens is also involved in industrial activities in developing, manufacturing and installing innovative fiber optic sensing solutions for critical applications.
Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of OpSens to be materially different from any future results, performance or achievements expressed or implied by the said forward-looking statements.
Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
For further information
Louis Laflamme, CPA, CA, Chief Executive Officer, 418.781.0333
Robin Villeneuve, CPA, CA Chief Financial Officer, 418.781.0333