Ra Medical Announces Business Combination With With Catheter Precision

(RTTNews) - Ra Medical Systems, Inc. (RMED) has entered into an agreement and plan of merger with Catheter Precision, Inc., a medical device and technology company focused in the field of cardiac electrophysiology. Catheter Precision will become a subsidiary of Ra Medical in a stock for stock reverse merger deal. Catheter Precision stakeholders are anticipated 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.

The merger will result in a combined publicly traded company that will focus on the cardiac electrophysiology market. It would be led by David Jenkins as Executive Chair and CEO. Will McGuire, current CEO, and Brian Conn, current interim CFO, have agreed to remain with the company through the closing of the deal.

Shares of Ra Medical Systems are up 44% in pre-market trade on Monday.