Vascular Solutions, Inc. reported financial results for the second quarter ending June 30, 2013. In the vein products category, second quarter net revenues increased 12% to $3.8 million from $3.4 million in the year-ago quarter. Vein product revenue during the second quarter included $1.8 million from the reprocessing service for ClosureFAST(R) radiofrequency catheters, compared to $1.0 million in reprocessing revenue in the year-ago second quarter and approximately $1.5 million in the first quarter of this year. The ClosureFAST reprocessing service was launched on January 16, 2012.
“Our reprocessing partner, Northeast Scientific, Inc., has now successfully reprocessed more than 25,000 ClosureFAST vein ablation catheters, and that volume is a strong indication of the reliability and effectiveness of this reprocessing program,” Mr. Root said. “We expect significant continued growth in our ClosureFAST reprocessing service in 2013, and we also intend to benefit by launching new products that will be used in conjunction with the reprocessed ClosureFAST catheters and by selling more of our ancillary products for vein therapy procedures to our expanded vein clinic customer base.”