This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

The Spectranetics Corporation Strengthens Vascular Portfolio With Purchase Of Upstream Peripheral Technologies, Ltd

Stocks in this article: SPNC

COLORADO SPRINGS, Colo., Jan. 7, 2013 (GLOBE NEWSWIRE) -- Spectranetics Corporation (Nasdaq:SPNC) today announced an agreement to purchase the assets of Upstream Peripheral Technologies, Ltd., an affiliate of ARAN Research Development & Prototypes Ltd., for up-front consideration of $5.5 million with additional milestone payments tied to revenue, manufacturing transfer, and other milestones specified in the asset purchase agreement. Included in the acquisition are unique technologies that expand Spectranetics' Vascular Intervention portfolio. The products have received U.S. Food and Drug Administration (FDA) 510(k) clearance and have been issued CE certificates. A full launch in the United States and Europe will occur in February 2013.

The Israeli-based Upstream Peripheral Technologies, Ltd products were developed to minimize radiation exposure in peripheral vascular procedures generally and decrease procedure time specifically in retrograde access procedures. The Quick-Access™ Needle Holder is an innovative, easy-to-use device that helps physicians access vessels safely and efficiently. The Quick-Cross Capture™ Guidewire Connector enables physicians to easily, reliably and safely capture and exchange guidewires in retrograde procedures. It works by utilizing a low-pressure balloon which centers the funnel-shaped device within the vessel and captures the guidewire quickly without damaging the wire or the vessel.

The Company expects to generate positive cash flow from the transaction in 2013, excluding the purchase price and related milestone payments. Consistent with past practice, the financial impact will be incorporated into the Company's guidance following sufficient commercial experience. 

"Crossing a chronic total occlusion (CTO) using the retrograde approach can be a very tricky and time-consuming procedure," said Dr. Donald Jacobs of St. Louis University. "The Quick-Access and the Quick-Cross Capture have made this procedure more predictable and efficient."

Dr. Andrej Schmidt of Park Hospital Leipzig, Germany, said, "As a busy interventionalist, I worry about constant radiation exposure. I now regularly use the needle holder when I need fluoroscopic guidance for vessel access to keep my hands as far away as possible from the radiation field. Additionally the wire catcher speeds procedure time, further reducing radiation exposure for my patients and me."

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs