Vascular Solutions Surpasses 20,000 Successfully Reprocessed ClosureFAST(R)
*Reprocessing of popular vein treatment catheter results in significant
cost savings and medical waste reduction for vein practices
*More than 400 clinics have contracted to have their ClosureFAST catheters
reprocessed since the service was launched in January of 2012
MINNEAPOLIS, April 18, 2013 (GLOBE NEWSWIRE) -- Vascular Solutions, Inc.
(Nasdaq:VASC) today announced that more than 20,000 ClosureFAST vein ablation
catheters have been reprocessed by its reprocessing partner, Northeast
Scientific, Inc. (NES), since Vascular Solutions launched the reprocessing
service on January 16, 2012.
"Our reprocessing service for the ClosureFAST catheter is an increasingly
attractive option for U.S. vein clinics that want to significantly reduce
their costs and cut down on medical waste," said Howard Root, Chief Executive
Officer of Vascular Solutions. "By successfully reprocessing more than 20,000
ClosureFAST catheters, our reprocessing partner NES has clearly demonstrated
the utility and reliability of this service."
To date, more than 400 U.S. vein practices have contracted to have their
ClosureFAST catheters reprocessed as part of the service offered exclusively
by Vascular Solutions through NES. Approximately 65% of the customers for the
reprocessing service represent entirely new accounts for Vascular Solutions.
"Reprocessing is one of the fastest-growing segments of the medical device
industry, and the vast majority of U.S. hospitals are now contracting with
third-party reprocessors for a number of single-use medical devices because of
the proven results," Mr. Root said."We are very pleased with the continued
success of our reprocessing service for the widely-used ClosureFAST catheter."
The ClosureFAST radiofrequency ablation catheter, which is manufactured and
marketed by Covidien, is the most popular product used for performing
endovenous therapy for the treatment of varicose veins in the U.S. Vascular
Solutions is offering the reprocessing service under contract with NES, an
established third-party reprocessor of medical devices.NES received 510(k)
clearance from the U.S. Food and Drug Administration on November 30, 2011 for
reprocessing the ClosureFAST catheter.
Craig Allmendinger, Chief Executive Officer of NES, commented:"The
ClosureFAST reprocessing service has achieved a high level of acceptance among
physicians during the first 15 months that the service has been available, and
during this time we believe NES has met the industry's highest performance
standards. NES is proud to be part of this effort to reduce costs and waste
and we look forward to continuing to meet the needs of the vein clinics."
Vascular Solutions markets and sells the ClosureFAST reprocessing service to
hospitals and clinics in the United States through Vascular Solutions'
91-person direct sales force.Subscribers to the service send their used
ClosureFAST catheters directly to NES for reprocessing.NES's validated
reprocessing system for ClosureFAST involves multiple stages, including
decontamination, cleaning, drying, packaging, labeling, sterilization, and
biological quarantine testing.As part of the process, each catheter is
subjected to function testing and undergoes multiple inspections to ensure
that quality standards are met.
About Northeast Scientific
Northeast Scientific, Inc. (NES), a privately-held company headquartered in
Waterbury, Connecticut, is registered with the U.S. Food and Drug
Administration as a reprocessor of single-use medical devices. Founded in
2005, NES received its first 510(k) clearance in 2007.NES's facility was
designed specifically to reprocess single-use devices.The process uses a high
capacity reverse osmosis deionized water system for cleaning, and only
environmentally safe detergents are used.NES performs all sterilization
in-house using100% ethylene oxide systems that limit waste and ensure
sterility.Functional testing of each reprocessed device and heat-seal
packaging is carried out in NES's Class 10,000 clean room.For more
information about NES, visit the company's website at www.mdreprocess.com.
About Vascular Solutions
Vascular Solutions, Inc. is an innovative medical device company that focuses
on developing unique clinical solutions for coronary and peripheral vascular
procedures.The company's product line consists of more than 70 products in
three categories: catheter products, hemostat products and vein
products.Vascular Solutions delivers its products to interventional
cardiologists, interventional radiologists, electrophysiologists, and vein
specialists through its direct U.S. sales force and international independent
The information in this press release contains forward-looking statements that
involve risks and uncertainties. Our actual results could differ materially
from those anticipated in these forward-looking statements. Important factors
that may cause such differences include those discussed in our Annual Report
on Form 10-K for the year ended December 31, 2012 and other recent filings
with the Securities and Exchange Commission. The risks and uncertainties
include, without limitation, risks associated with the need for adoption of
our new products, lack of sustained profitability, exposure to intellectual
property claims, significant variability in quarterly results, exposure to
possible product liability claims, the development of new products by others,
doing business in international markets, the availability of third party
reimbursement, and actions by the FDA.
ClosureFAST is a registered trademark of Covidien.Vascular Solutions'
reprocessing service for the ClosureFAST catheter is not licensed by or
associated with Covidien.
For further information, connect to www.vasc.com.
CONTACT: James Hennen, CFO
Phil Nalbone, VP
Vascular Solutions, Inc.
Press spacebar to pause and continue. Press esc to stop.