Umbilical Cord Device Approved
Utah Medical Products said it has received approval from the U.S. Food and Drug Administration for its Cordguard II umbilical cord clamping device.
The disposable device clamps and cuts the umbilical cord and collects an uncontaminated blood sample immediately after birth. It was developed by Huntington Beach-based OB Tech Inc., whose assets were acquired by Utah Medical in December 1993. The Salt Lake City-based medical equipment maker said the device, a modified version of the OB Tech instrument, prevents blood from spraying when an umbilical cord is cut.
Utah Medical shares rose 35% in heavy Nasdaq trading. The stock closed at $20.625, up $5.375 a share, as 1.59 million shares changed hands. The volume was 37 times the daily average over the last three months.
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