Advisory firm Young America Capital (YAC) said on Wednesday that Pleuratech has announced an exclusive worldwide multimillion dollar license agreement for its KatGuide with Merit Medical Systems (NASDAQ:MMSI), a manufacturer of medical devices used primarily in cardiology, radiology and endoscopy.

The uniquely shaped, patented and clinically tested surgical device KatGuide can guide the chest tube to the part of the pleural cavity that needs drainage, resulting in successful surgeries and fewer misplaced drains.

KatGuide, which ensures safe and accurate placement of drains in the pleural cavity was developed by Pleuratech's two founders, Niels Katballe and Peter Heydorn.

Young America Capital reportedly advised and assisted Pleuratech with the license agreement.