MINNEAPOLIS, Minnesota — Vascular Solutions, Inc. (Nasdaq: VASC) today announced that more than 10,000 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.
“Since we began offering the reprocessing service in collaboration with NES approximately ten months ago, NES has consistently demonstrated the ability to safely and effectively reprocess the ClosureFAST catheter, and customers have been very pleased with the results,” said Howard Root, Chief Executive Officer of Vascular Solutions. “Our ClosureFAST reprocessing service has become an attractive option for U.S. vein practices. Vein clinics can elect to have their ClosureFAST catheters reprocessed up to three times each, thus saving significant costs and reducing the amount of medical waste.”
To date, more than 350 U.S. vein practices have contracted to have their ClosureFAST catheters reprocessed as part of the service offered exclusively by Vascular Solutions in collaboration with NES. Approximately 65% of the customers for the reprocessing service represent entirely new accounts for Vascular Solutions. Vascular Solutions expects the ClosureFAST reprocessing service to generate approximately $4 million in revenue during 2012.
“Reprocessing has become 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…”
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Contact: James Hennen, CFO
Phil Nalbone, VP
Vascular Solutions, Inc.
(763) 656-4300