67 WALL STREET, New York - August 2, 2013 - The Wall Street Transcript has just published its Medical Devices Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs and Equity Analysts. The full issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
Topics covered: Orthopedics and Cardiovascular Medical Devices - Medical Device Innovation and Consolidation Trends - Cardiac - Health Care - Affordable Care Act - Continued Pricing Pressure - Aging U.S. Population
Companies include: Endologix Inc. (ELGX) and many more.
In the following excerpt from the Medical Devices Report, the President and CEO of Endologix, Inc. (ELGX) discusses company strategy and the outlook for this vital industry:
TWST: Your Q2 earnings growth was a fabulous 33%, after an equally stellar Q1. Can you share with us why you've raised revenue guidance for remainder of the year?
Mr. McDermott: The main reasons are good momentum with the current products driven by our seasoned sales force. This is a very clinically intense device, as are all the other devices in this space, so the capabilities of the sales force and their relationships are very important. We have a very good team that has been in place for quite a while now; they are getting traction, the product is performing well, the doctors are comfortable with it.
We have also rolled out a new initiative, which we call PEVAR, and that is a percutaneous indication for AFX. We did a clinical trial a couple of years ago to demonstrate the safety and effectiveness of doing these procedures without a surgical incision, so instead going over a guidewire. That technique has gained quite a lot of interest and enthusiasm, both from the perspective of the patients as well as the clinicians offering this option to their patients. So we are in the early stages of introducing PEVAR.
We received our approval to broaden our indication for AFX to include PEVAR in April, ran our first physician training courses in May, and now we'll be running courses over the remainder of this year and into next year. In these courses we bring physicians in and we train them on this technique, and what's unique is we have trained our sales force to conduct the training and certify physicians in PEVAR. The closure device that closes this little hole for the delivery system is actually an Abbott product, and we collaborated with Abbott on this clinical trial, but as it relates to the training and the clinical support in the cases, our sales force has now been trained and certified on this technique, and it's really the only EVAR sales force with that capability. This gives us...
For more of this interview and many others visit the Wall Street Transcript - a unique service for investors and industry researchers - providing fresh commentary and insight through verbatim interviews with CEOs, portfolio managers and research analysts. This special issue is available by calling (212) 952-7433 or via The Wall Street Transcript Online.
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