Possis reveals strategy for growth in endovascular market

By Lisa Kerner

Charlotte, N.C., Sept. 27 - Possis Medical, Inc.'s growth strategy includes increased use of its AngioJet products as well as marketing thrombosis management products, said John Riles, the director of global marketing.

Riles, who provided a company update at the UBS Global Life Sciences Conference in New York, highlighted the company's five years of profitability in the growing cardiovascular and endovascular treatment markets. He likened working in the market to "sailing in the wind" as the need for products grows along with an aging population.

The company is seeking worldwide expansion by investing in European clinical research to help drive the AngioJet product.

"Our vision is to be the worldwide leader in endovascular treatment of intravascular thrombosis and to be positioned to take advantage of opportunities beyond this core business," Riles said.

The company's new GuardDog product, slated for a fall release, is an occlusion balloon used in conjunction with the AngioJet system to remove blood clots and prevent clots from forming during procedures.

In 2007 the company will have a new, easier-to-use platform for the AngioJet unit based on user feedback, Riles said.

Company guidance included profit margins in the low to mid 70% range. The balance sheet at this time shows $48 million in cash, according to Riles.

Possis is a medical device company based in Minneapolis.

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