Healthcare Industry News: abdominal aortic aneurysm
News Release - April 18, 2007
Endologix to Manufacture Powerlink System Graft MaterialIRVINE, Calif.--(HSMN NewsFeed)--Endologix, Inc. (Nasdaq:ELGX ) today announced receipt of U.S. Food and Drug Administration (FDA) approval to manufacture the ePTFE graft material used in the PowerlinkŪ System for the minimally invasive treatment of abdominal aortic aneurysm (AAA). More specifically, ePTFE is the graft material that covers the Powerlink System's self-expanding cobalt chromium alloy stent cage. The Company's self-manufactured ePTFE graft material meets the same product specifications as that currently in use in Powerlink System production.
"Producing our own graft material will allow us greater control over our supply and manufacturing process," said Paul McCormick, Endologix president and chief executive officer. "Additionally, we anticipate that the significant investment we have made will yield a significant positive impact on gross margins in 2008 and beyond as we work through our inventories of purchased material."
Endologix, Inc. develops and manufactures minimally invasive treatments for vascular diseases. Endologix's Powerlink System is an endoluminal stent graft (ELG) for treating abdominal aortic aneurysms (AAA). AAA is a weakening of the wall of the aorta, the largest artery in the body, resulting in a balloon-like enlargement. Once AAA develops, it continues to enlarge and, if left untreated, becomes increasingly susceptible to rupture. The overall patient mortality rate for ruptured AAA is approximately 75%, making it the thirteenth leading cause of death in the U.S. Additional information can be found on Endologix's Web site at www.endologix.com.
This press release contains forward-looking statements with respect to development of the Powerlink System manufacturing technology and the potential for cost reductions in the manufacturing process, the accuracy of which are necessarily subject to risks and uncertainties, all of which are difficult or impossible to predict accurately and some of which are beyond the control of Endologix, all as more fully described in the risk factors and other matters set forth in Endologix Annual Report on Form 10-K for the year ended December 31, 2006, and Endologix's other filings with the Securities and Exchange Commission. Endologix undertakes no obligation to revise the forward-looking statements contained herein to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
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