vascular solutions inc (VASC) Key Developments
Vascular Solutions Inc. to Purchase Additional Manufacturing Facility at 6420 Sycamore Court North in Maple Grove, Minnesota
Jan 28 15
Vascular Solutions Inc. announced that it has entered into an agreement to acquire a 26,000-square-foot building located at 6420 Sycamore Court North in Maple Grove, Minnesota. The purchase price will be $2.7 million and funded with existing cash. The closing is expected to take place in early March, subject to customary closing conditions. The building is located across the street from Vascular Solutions' existing manufacturing facility and headquarters building. The newly-acquired facility will be used initially for the company's component manufacturing operations, with future use planned for the commercial scale production of freeze-dried plasma which is being developed in collaboration with the United States Army. Upon closing of the acquisition, Vascular Solutions intends to occupy approximately 17,500 square feet of the building, with an existing tenant expected to continue to occupy the remaining 8,500 square feet.
Vascular Solutions Inc. Announces Preliminary Revenue Results for the Fourth Quarter and Full Year Ended December 31, 2014; Revises Earnings Guidance for the Fourth Quarter 2014
Jan 8 15
Vascular Solutions Inc. announced preliminary revenue results for the fourth quarter and full year ended December 31, 2014. The company announced that fourth quarter revenue is expected to be $33.6 million, an increase of 15.5% from $29.1 million in the year-earlier quarter, exceeding the top-end of the company's guidance range of $32.5 million to $33.5 million for the quarter. On a preliminary, unaudited basis for the fourth quarter, U.S. revenues grew 8% to $26.8 million, while
international revenues grew nearly 59% to $6.7 million.
The company announced that For the full year 2014, revenue is expected to be $126.1 million, an increase of 14% from 2013 revenue of $110.5 million.
The company expects GAAP net earnings for the fourth quarter 2014 will be above the high end of the company's previous GAAP net earnings guidance of $0.16 to $0.18 per fully diluted share.
Vascular Solutions, Inc. Announces FDA 510(K) Clearance of Zigiwire Access Guidewire System
Dec 19 14
Vascular Solutions Inc. announced that the ZigiWire access support guidewire system has received FDA 510(k) clearance. The company is designed to facilitate placement and exchange of catheters during peripheral diagnostic or interventional procedures. The company plans to launch ZigiWire through its 101-member direct U.S. sales force in January 2015. ZigiWire is manufactured for the company by VadisWire Corp. The ZigiWire guidewire support systems employ a novel method of establishing progressive and secure support wire access into most arterial vascular anatomy in an efficient and time saving manner. Through any standard 0.038" compatible catheter lumen, the operator advances a floppy-style lead wire for initial engagement of the target vessel which is then followed by up to two additional wires to achieve the desired level of guidewire support.
Vascular Solutions Receives FDA Clearance for VSI Radial Introducer Sheath
Dec 15 14
Vascular Solutions Inc. has received the FDA 510(k) clearance for VSI Radial introducer sheath for use in the introduction of guidewires and catheters into a vein or artery. The VSI Radial introducer sheath is specifically designed for patients undergoing transradial catheterization rocedures. Vascular Solutions plans to launch the VSI Radial introducer sheath through its 101-member direct US sales force in January 2015. The VSI Radial introducer sheath is manufactured for Vascular Solutions by LePu Medical Technology (Beijing) Co. Ltd. under an exclusive US distribution agreement. All 17 models of the VSI Radial introducer sheath contain a hydrophilic-coated introducer sheath and dilator, and the device will be available in three kit options. The Standard Kit option, designed for the single-wall micro-puncture technique, consists of 9 models that include a sheath, dilator, guidewire and 21G needle. The Access Kit option, designed for the double-wall micro-puncture technique consists of six models that include a sheath, dilator, polymer-coated guidewire, IV catheter needle, and syringe. The 035 Kit option, designed for converting a 4F or 5F diagnostic procedure into a 6F interventional procedure, consists of two models that include a sheath, dilator and 0.035 guidewire.
Vascular Solutions Receives FDA Clearance for New Turnpike Catheters
Dec 4 14
Vascular Solutions Inc. has received 510(k) clearance from the FDA for its Turnpike catheters, a new line of catheters designed for use in coronary and peripheral interventions. Vascular Solutions expects to launch the Turnpike catheters in January following clinical evaluations to occur in December. The Turnpike catheters are single-lumen catheters with a shaft constructed from two layers of polymer that encapsulate both a braid and a dual-layer coil. The Turnpike is available in two versions, a Soft Tip and a Hard Tip version, both of which advance over an 0.014" guidewire. The Soft Tip version extends the catheter's braid and dual-layer coil into a soft, radiopaque distal tip which, following a non-tapered polymer-only section, gradually tapers to a smooth distal edge. The Soft Tip version has been designed for use in small and tortuous vessels in which the catheter's flexible tip tracks over the guidewire around tight curves in the artery. The Hard Tip version terminates with a gold-plated, stainless steel distal tip. The Hard Tip version of Turnpike has been designed for use in cases in which an 0.014" guidewire has advanced through a lesion but the advancement of any other device over the guidewire is difficult. The Hard Tip version is available in two configurations: one with a threaded distal tip designed to provide additional rotational advancement and one with a smooth distal tip for minimal friction during advancement. The Turnpike catheters are intended to be used to access discrete regions of the coronary and/or peripheral vasculature. The catheters may be used to facilitate placement or exchange of guidewires and to subselectively infuse/deliver diagnostic and therapeutic agents.