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Endologix's CEO Presents At Morgan Stanley Healthcare Conference (Transcript)

John McDermott

Okay, thank you. So, Endologix, for those of you who aren’t familiar with the company is a medical device business. We make a device to treat abdominal aortic aneurisms. That is a leading cause of death in the United States, particularly for men. The historical way to fix these aneurisms is with an open surgery. There is a new way to fix aneurisms and that is with a percutaneous or through the catheter type of approach, so this less invasive.

We were one of the later entrants into this market, have grown very rapidly over the last few years, have a differentiated technology which is capturing share but more interestingly over the last couple of years have invested a considerable amount of our efforts and resource into a new portfolio of devices as that are getting ready to be introduced over the next few years in Europe first and then in the United States.

So we have been growing nicely. We grew in the first half about 30%. We have given five year guidance to grow at 20% or better over the next several years. We have just been expanding into Europe and have very promising future. So it's an exciting company with a lot of growth potential.

Question-and-Answer Session

Unidentified Analyst

Great job, thanks. So you were one of the reasons why I think Endologix is particularly interesting. Obviously there is a pullback in the stocks past the quarter. In fact, they would have bought you anyway but it is a clear opportunity for investors. Maybe in the sense of star care, there are some people who believe that it was related to Nellix but, frankly, probably it was more related to earnings expectations and guidance there. So maybe walk us through what happened on the quarter specifically.

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