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Welcome to the 22nd Annual Oppenheimer Healthcare Conference. We are going to kick it off this morning with a few medical device names. I’m very happy to have with us, first, John McDermott, Chief Executive Officer of Endologix, pure play in the abdominal aortic aneurysms market. We are going to a presentation here in the room and then we will open it up to some Q&A here in the room as well. So, with that I’m going to turn it over to John. Thanks sir.
Thanks Steve. Good morning everyone. Steve pointed out we are medical device company located in Irwin, California. We focus on repair of abdominal aortic aneurysms, I have got a several slides here. I’m going to take you through these pretty quickly just to make sure that we have plenty of time at the end for Q&A. It's a large and growing market, as I take you through the product portfolio you will see that we have got a very differentiated approach relative to our competitors treating aneurysms. The company has grown nicely or direct in the U.S. going direct right now in Europe. And as you can see from the sales figures here, plenty of resources continue the growth.
So, this is what we do, the picture is on the left, show a catheter base therapy to repair aneurysms, the picture on the right kind of the historical f the standard abdominal aortic repair used to be in open surgical procedure. Today it's down to about 60% of the time through catheter or what we call EVAR, endovascular aneurysm repair. About 72,000 procedures last year in the United States and we are starting to grow on to 60, 65% penetration. And I will talk to you about what’s involved with getting the remaining 35 to 40% switched over to EVAR.