Catheter Precision Inc. (NYSE American: VTAK) announced it has engaged a strategic advisor to market its cardiac electrophysiology business for sale. The company said the move aims to monetize its medical device assets while focusing on its Flyte aviation platform.

The cardiac electrophysiology portfolio includes LockeT, a suture retention device for wound closure after percutaneous venous punctures, and VIVO, a non-invasive 3D imaging system for identifying ventricular arrhythmia origins. Both products have received FDA market clearance and CE Mark approval.

"We believe that our cardiac electrophysiology portfolio may provide significant value to larger, better capitalized, companies than our own that is not reflected in our own company's current market capitalization," said David Jenkins, CEO of Catheter Precision.

LockeT is classified as a Class 1 device registered with the FDA. The company stated that both LockeT and VIVO are being used by surgical and recovery teams in hospitals in the U.S. and internationally, including teaching hospitals.

Jenkins indicated the company expects the divestiture will allow it to be valued as a pure-play aviation business. The company described its objective as driving shareholder value through execution, transparency, and disciplined capital allocation.

The information is based on a company press release statement. Catheter Precision is based in Fort Mill, South Carolina, and describes itself as a medical device company focused on cardiac arrhythmia treatment solutions.