Medical devices company Clearstream Technologies Group (LON:CTN) has signed a five-year contract with Advanced Vision Medical Technologies, based in Switzerland, to buy a range of self-expanding stents for use in the peripheral vascular arteries above and below the knee. The agreement is an important move for ClearStream because it gives it a broader range of treatment options for its customers in the fast-growing field of peripheral vascular disease (PVD). Shares in the company rose by 2.5% on the news to 30.75p.

Since joining AIM in 2004, and under the stewardship of chief executive Andy Jones, ClearStream has put together a strong portfolio of catheters and stents, which are used by surgeons to unblock and prop-up clogged arteries, either in the upper body (coronary) or legs (peripheral). The market is being propelled by surging rate of diseases such as diabetes, where the early use of stents and catheters can avoid serious surgery and even amputations later on.

According to the US-based research and consultancy group Frost & Sullivan, stents are used in an estimated 35% of all peripheral vascular procedures. With annual growth rates across Europe for these procedures running at between 14 and 17%, ClearStream is targeting the market as a key part of its future strategy.

As part of the latest deal, the stents will be distributed globally by ClearStream, subject to obtaining regulatory approval in specific markets, through its network of international distributors under the brand name “SilkenFlex” and are expected to be released to the market in the fourth quarter of 2010.

Andy Jones said: “The SilkenFlex is a very exciting and important addition to ClearStream's product portfolio for the treatment of peripheral vascular disease (PVD). This new range of self-expanding stents will enable us to offer an ever broader range of treatment options to our customers. We believe its introduction will further drive ClearStream's growth in the expanding market for the treatment of PVD in the coming years.”

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