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

John McDermott

Yes, I think there was a pullback in the stock. For those of you, again, who aren’t familiar with it, one of the featured new technologies in the portfolio was a device called Nellix. The current devices today, we treat an aneurism by putting in a tube to isolate the blood flow from the aneurism sack and that has worked pretty well with pretty good results but the problem is you still get, what we call and endo leak. You get leaks around these tubes that require annual CT scans and life time of surveillance for these patients.

We have developed a new technology which effectively seals that aneurism sack and there isn’t anything like it. It's been developed for many, many years. We actually bought the company that have been developing it about a year and half ago and integrated some of our technologies.

We made a decision just prior to the last call to hold that device back a little bit, make a few final design enhancements before we start our USIDE and our European trial and the effect of that was, instead of getting a CE mark and launching that in Europe around now, it was a limited market release, we will do that in about the middle of next year. I think that was the biggest reason for the change in the stock.

Unidentified Analyst

Okay, and obviously, we have got a pretty big room here. So if there are questions, please raise them high enough and we will get to them. John, I want to mention another (inaudible) debate that has been out there for several months. Actually in upwards of a year, and just your larger competitor, there really are two competitors in the market. One today, and the one potential in the future.

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