Millenium Holding to Merge with Sutura

In a move to exploit the SuperStitch products of Sutura, Inc. (Fountain Valley, CA, USA), Sutura and the Millenium Holding Group, Inc. (Las Vegas, NE, USA) have agreed to merge.

The Sutura SuperStitch products are used in more than 10,000 procedures in Europe and have demonstrated their effectiveness as the only suture-based technology cleared for sale in the United States and Europe that allows vessel closure through the existing sheath introducer. They are designed for use to suture the puncture created in the femoral artery during catheter-based procedures, mainly in cardiology and radiology.

"We believe the closure market will grow to be more than [U.S.]$1 billion over the next several years,” said Anthony Nobles, CEO/president of Sutura. "We are pleased and excited to work with Millenium's management in the merger and subsequent transition process.” The combined company will have the opportunity to take advantage of a contemplated $15 million financing opportunity, which is one of the closing conditions of the merger, noted Mr. Nobles.




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