Vascular Solutions looks to achieve $100 million in net sales by 2009 with multiple product launches

By Jennifer Lanning Drey

Eugene, Ore., Sept. 8 - Vascular Solutions Inc. has set a financial target of achieving $100 million in net sales by 2009, and the company is preparing to launch multiple new products, chief executive officer Howard Root told investors Friday at the Thomas Weisel health care conference.

In the fourth quarter, Vascular plans to launch the InnerChange specialty catheter, a combination product for interventional radiology that has an annual sales potential of $5 million, Root said.

Vascular also plans to launch the Gradient specialty catheter in the fourth quarter, a version of its Twin-Pass catheter, which the company launched earlier this year. The new device also has an annual sales potential of $5 million, he said.

Root said commercializing multiple products with smaller markets fits the company's current strategy.

"Some of these are small - $5 million to $10 million - some of these grow to be $50 million or $100 million, but you add a multitude of $10 million products together and you can get to $100 million pretty easily," Root said.

The company also plans to launch two additional new catheters in the first quarter of 2007.

Root told investors that because of the company's history, Vascular is not ready to take on larger projects.

"We're not going to take big, risky flings at this point because we've made it back from a single product medical device company that was unprofitable to a profitable, multi-device medical company. We don't want to return that trip in any way," Root said.

In the future, the company may take on larger projects, he added.

Vascular's most profitable product is the D-Stat Dry hemostatic bandage, which was launched in 2003, Root said.

Vascular Solutions is a medical device company located in Minneapolis.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.