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Hansen Medical CEO Discusses Q4 2010 - Earnings Call Transcript

Second, generating record catheter sales and product utilization in the EP market, third fully launching our new Lynx ™, an irrigated ablation catheter in Europe, fourth, gaining unconditional IDE approval from FDA for the artisan clinical trials, fifth, unveiling the new flexible catheter vascular system, at an important endovascular symposium. Sixth, hiring key senior leadership for US commercial sales, engineering, and training in clinical affairs, and seventh, opening our new European headquarters and clinical education center, to start the base to grow our international business in 2011 and beyond.

In achieving these milestones, I’ve been impressed with the ability of the entire organization, including both new and longtime employees, to adopt a new commercial focus and culture of execution that will be critical to our success. And many highlights in the period reflect that commitment and energy. Operating and financial results for Q4 showed encouraging momentum as well. As noted, we posted strong increases in EP utilization, as we delivered record catheter sales and procedures and impressive growth in both, increasing 24% and 34% over Q4 2009 respectively. In addition, we reduced OpEx by $3 million versus Q4 2009, and cut cash used in operations by $5 million versus Q4 2009; a significant achievement considering the high level of development and other non-selling activities undertaken in the period.

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