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February 09, 2016 12:15 PM ET

Healthcare Equipment and Supplies

Company Overview of TriVascular Technologies, Inc.

Company Overview

TriVascular Technologies, Inc., a medical device company, develops and commercializes technologies to advance minimally invasive treatment of abdominal aortic aneurysms (AAA). The company offers Ovation System, a stent graft platform for the treatment of AAA through minimally invasive endovascular aortic repair. Its ovation system components include arotic body, iliac limbs, and fill polymer. The company markets and sells its products through direct sales organizations in the United States, Germany, the United Kingdom, the Netherlands, and Canada, as well as through distributors or agents in other markets. TriVascular Technologies, Inc. was incorporated in 2007 and is headquartered in Santa ...

3910 Brickway Boulevard

Santa Rosa, CA 95403

United States

Founded in 2007

307 Employees

Phone:

707-543-8800

Key Executives for TriVascular Technologies, Inc.

Chairman, Chief Executive Officer and President
Age: 59
Co-Founder and Chief Technology Officer
Age: 54
Co-Founder and Vice President of Research & Development
Age: 54
Co-Founder and Vice President of Manufacturing Technology
Age: 56
Chief Financial Officer and Principal Accounting Officer
Age: 39
Compensation as of Fiscal Year 2015.

TriVascular Technologies, Inc. Key Developments

Trivascular Technologies Inc. Announces Unaudited Consolidated Earnings Results for Third Quarter and Nine Months Ended Sept. 30, 2015

Trivascular Technologies Inc. announced unaudited consolidated earnings results for third quarter and nine months ended Sept. 30, 2015. For the quarter, the company reported revenue of $9,455,000, loss from operations of $11,416,000, loss before income tax expense of $13,531,000, net loss of $13,578,000 or $0.66 basic and diluted per share, negative EBITDA of $11,310,000, negative adjusted EBITDA of $10,147,000 compared to the revenue of $7,878,000, loss from operations of $12,107,000, loss before income tax expense of $13,822,000, net loss of $13,887,000 or $0.69 basic and diluted per share, negative EBITDA of $11,967,000, negative adjusted EBITDA of $11,402,000 for the same quarter a year ago. Pro forma net loss or $44,071,000 or $2.17 basic and diluted per share against $43,515,000 or $2.56 basic and diluted per share for the same quarter a year ago. On a non-GAAP basis, net loss was $0.66 per share, compared to $0.69 loss per share in the prior year. For the year to date, the company reported revenue of $27,213,000, loss from operations of $37,776,000, loss before income tax expense of $43,892,000, net loss of $44,071,000 or $2.17 basic and diluted per share, negative EBITDA of $37,642,000, negative adjusted EBITDA of $34,174,000 compared to the revenue of $22,710,000, loss from operations of $37,475,000, loss before income tax expense of $42,717,000, net loss of $42,882,000 or $3.41 basic and diluted per share, negative EBITDA of $36,446,000, negative adjusted EBITDA of $34,174,000 for the same period a year ago. Pro forma net loss or $13,578,000 or $2.17 basic and diluted per share against $13,887,000 or $2.56 basic and diluted per share for the same quarter a year ago.

TriVascular Technologies, Inc. Announces Preliminary Results of the LIFE Study Presented at VIVA 2015

TriVascular Technologies, Inc. announced the presentation of the midterm results of the multicenter Least Invasive Fast-Track EVAR (LIFE) study, during the late breaking clinical trials session at the VIVA 2015 meeting. The LIFE study was initiated to determine the clinical utility and cost effectiveness of the ultra-low profile (14F OD) Ovation Abdominal Stent Graft platform when used under least invasive conditions. The study is a prospective, multicenter registry for the treatment of patients with AAA using a fast-track protocol, consisting of appropriate patient selection, bilateral percutaneous access, avoidance of general anesthesia and intensive care unit admission, and next-day discharge. Patients are enrolled and treated with EVAR if the investigator determines that the patient can meet the fast-track protocol based on medical history and aortoiliac anatomy. Following enrollment, patients remain in the study regardless of whether all components of the fast-track program are completed. Patient outcomes and resource utilization are recorded through hospital discharge and at the 30-day follow-up visit.

John Mcdermott to Become Chairman and Chief Executive Officer of Endologix and Trivascular Technologies's Combined Company

Endologix and TriVascular Technologies say they have agreed to merge in a stock and cash deal that values TriVascular Technologies at $9.10 per share, or a total of approximately $211 million. Endologix stockholders will own approximately 84% of the shares of the combined company on a fully diluted basis and TriVascular stockholders will own approximately 16%. The transaction is expected to close in January 2016. Endologix will be led by John McDermott, who will become Chairman and Chief Executive Officer of the combined company.

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