67 WALL STREET, New York - March 15, 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
Companies include: Vasomedical, Inc. (VASO) and many more.
In the following excerpt from the Medical Devices Report, the CEO and President of Vasomedical, Inc. (VASO) discusses company strategy and the outlook for this vital industry.
TWST: Let's start out with a brief overview of your company, Vasomedical.
Dr. Ma: Vasomedical is a publicly traded company on the OTC Bulletin Board. The ticker symbol is VASO. We are a diversified med-tech company with three wholly owned subsidiaries. One is called VasoHealthcare, which is currently in the distribution representation business for GE Healthcare for their diagnostic imaging devices. We also have a subsidiary called VasoSolutions, which designs, manufactures and markets our own medical devices.
Our core device is a cardiac therapeutic device called EECP, which stands for enhanced external counterpulsation. We have a third subsidiary called VasoGlobal, which is a holding company of our overseas assets. Currently we operate two China-based facilities through VasoGlobal known as Biox Instruments and Life Enhancement Technology, or LET.
TWST: If we were speaking 12 months ago, what was the list of things to do? How have you lived up to your expectations?
Dr. Ma: Let me extend the time frame a bit longer: In the last 12 to 18 months we have accomplished a lot. Actually, if I could extend it a little further, a little more than two years ago, we started VasoHealthcare, which is the sales representation business I mentioned earlier. We started that operation, and we were able to acquire a GE contract - an agreement with GE Healthcare. We currently employ around 70 sales people in that operation, with nine regional managers and an additional five or six people at the subsidiary management level, selling a significant amount of diagnostic imaging devices for GE Healthcare.
Fast forward to about 15 months ago, we acquired two Chinese companies, BIOX and LET, which are the entity in our VasoGlobal subsidiary. So yes, in the last little more than two-year time period, we have initiated our diversification strategy and took our...
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