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TheStreet Open House

Endologix's CEO Hosts Lazard Capital Markets 8th Annual Healthcare Conference Call Transcript

Endologix, Inc. ( ELGX)

Lazard Capital Markets 8th Annual Healthcare Conference Call

November 16, 2011 11:00 ET

Executives

John McDermott – President and Chief Executive Officer

Analysts

Sean Lavin – Lazard Capital Markets

Presentation

Sean Lavin – Lazard Capital Markets

[Starts Abruptly] He is going to give presentation and take questions. Thank you.

John McDermott – President and Chief Executive Officer

Okay, good morning everybody. Thanks Sean. Endologix is a medical device company located in Irvine, California. Very differentiated technology, which I’ll take you through in a minute, strong performing core business were one of the higher growth stories in Medtech, I think Q3 revenue growth of 25%, good growth better than 30% United States good gross margins. I’ll take you through both the core business as well as our pipeline, which is gained a lot of the attention over the last year.

So this is what we do. We repair abdominal aortic aneurysms, it’s a leading cause of death in the United States it’s an asymptomatic disease, which means you don’t know you have one unfortunately until it’s a serious problem. The historical way of treating aneurysm is the picture on the right open surgical repair, but over the last several years less-invasive therapies have been developed. And now most aneurysms are treated with catheter-based technology you see the illustration on the left.

So, we take a device in a catheter inserted in the groin guided up into and reline the aorta from the inside out. Therefore excluding the aneurysm from blood flow and preventing rupture and that’s the new technique represents over 60% of how AAA’s are fixed today. The primary limitation, the reason that more of them are fixed with this less-invasive therapy is that there are wide range of different anatomies, which the current technologies are unsuitable to treat.

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