"We are honored to receive the Innovative Technology award from Novation, as we believe it highlights the cutting-edge nature of the MicroCutter technology with the potential to improve clinical outcomes for patients undergoing many different types of minimally invasive surgical procedures," said Julian Nikolchev, president and CEO of Cardica. "We look forward to working with some of the foremost and innovative surgeons in the United States through this agreement with Novation."About Cardica Cardica designs and manufactures proprietary stapling and anastomotic devices for cardiac and laparoscopic surgical procedures. Cardica's technology portfolio is intended to reduce operating time and facilitate minimally-invasive and robot-assisted surgeries. Cardica's MicroCutter XCHANGE ® 30, a cartridge-based articulating surgical stapling device with a five-millimeter shaft diameter, is manufactured and cleared for use in a variety of gastrointestinal procedures and appendectomies in the United States, and for a wide range of surgical procedures in Europe. In addition, Cardica manufactures and markets its automated anastomosis systems, the C-Port ® Distal Anastomosis Systems and PAS-Port ® Proximal Anastomosis System for coronary artery bypass graft (CABG) surgery, and has shipped over 56,500 units throughout the world. Forward-Looking Statements The statements in this press release regarding Cardica's beliefs as to the benefits to Cardica and members and affiliates of VHA, UHC, Children's Hospital Association and Provista LLC served by Novation from the National Agreement, as well as the benefits expected to be obtained from the use of the MicroCutter XCHANGE ® 30, are "forward-looking statements." There are a number of important factors that could cause results to differ materially from those indicated by these forward-looking statements, including: that Cardica may not be successful in its efforts to make the improvements necessary to its enhanced MicroCutter device due to unanticipated technical or other difficulties; risks inherent in obtaining regulatory approvals; as well as other risks detailed from time to time in Cardica's reports filed with the U.S. Securities and Exchange Commission, including its Quarterly Report on Form 10-Q for the quarter ended September 30, 2015, under the caption "Risk Factors," filed on November 12, 2015. Cardica expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein. You are encouraged to read Cardica's reports filed with the U.S. Securities and Exchange Commission, available at www.sec.gov.
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