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TheStreet Open House

Hansen Medical CEO Discusses Q2 2011 Results - Earnings Call Transcript

Stocks in this article: HNSN

Now with that, it’s now my pleasure to turn the call over to Hansen Medical’s President and CEO, Bruce Barclay. Good afternoon, Bruce.

Bruce Barclay

Thank you, Matt. Good afternoon everyone. Thank you all for joining us for our second quarter 2011 conference call.

Before I discuss our second quarter results, I want to take a moment to introduce our new Chief Financial Officer, Pete Mariani. We took our time in conducting our CFO search, but having completed a very thorough search process, we are thrilled to have Pete on board here at Hansen. The deliberate pace of the search was designed to make sure that we found the right person for the role. And I can speak for the entire board including me that Pete is that person.

We were adamant about finding an executive that had impeccable integrity, exceptional financial skills, applicable medical device experience, and importantly had significant success in scaling a business… [technical difficulty]

… process we have not received a response to 510K submission. We are still targeting a U.S. commercial launch in the second half of this year. We understand that this is of interest to you in the investment community and so we will update you on any material news that comes out of the FDA when it is received.

As you read today’s press release, financial results in the quarter representing only the EP business were solid and showed areas of improvement year-over-year. We are especially pleased that we are on pace with ten systems recognized as revenue thus far in 2011 to break through the 12 systems we recorded for all of 2010. We are encouraged that the pipeline in that business has beginning to show some positive momentum.

Further, there is growing third-party clinical work by physicians as the total number of procedures performed on patients with our products is now in excess of 6,000.

Read the rest of this transcript for free on seekingalpha.com

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