Hansen Medical, Inc. (HNSN)
Lazard Capital Markets 8th Annual Healthcare Conference Call
November 16, 2011 3:00 PM ET
Bruce Barclay – President and CEO
Peter Mariani – Chief Financial Officer
Maury – Lazard Capital Markets
– Lazard Capital Markets
Previous Statements by HNSN
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Next up we’re going to hear from Hansen Medical, and Bruce Barclay, who is the President and CEO. We actually also have Peter Mariani an attendance in the audience here. There is going to be some time for questions after Bruce’s presentation. So Bruce take it away.
Good. Thank you, [Maury]. Thanks for inviting us again this year. Happy to be here. As [Maury] said, with me today is our CFO Pete Mariani. Well, some of the statements made during this presentation maybe considered forward-looking, the slide as well as our securities filings contain important information that relating to the company, and I would encourage you to consider this information carefully.
Hansen Medical is a leading provider of flexible robotics poised for growth in the $1 billion plus medical robotics market. Well, flexible robotics is truly a platform technology with many clinical areas where it could be use. We are focusing our efforts in two key businesses.
First is electrophysiology or EP for short and vascular for EP. In 2007 we launched our first robotic catheter system in U.S. and Europe, which we called the Sensei Robotic system. Our clinical use is growing and in four short years the Sensei system has been used in nearly 7000 clinical cases. We’ve generated a significant install base having ship more than 100 systems worldwide since that time and we are adding to that every quarter.
With those cases is coming a drilling body of data showing the clinical benefit of the product in patients with atrial fibrillation or AF. Our strategy is to leverage our robotic technology in the new markets and we are excited about the opportunity in front of us with our new robotic platform, which we call Magellan to access a larger new clinical application in vascular diseases.
In fact, having just received our CE Mark in Europe and initiated our focus clinical commercial launch. We are very pleased to announce and we install our first system in Europe in October and last week we successfully completed our first clinical case.
Finally, we continue to invest heavily in our pipeline. We are developing a suite of catheters for use in multiple EP and vascular clinical applications.
Further, we have developed what we believe to be a game changing technology in terms of visualization which we call shape sensing, which has many potential benefits, including the reduction of radiation exposure to patients and physicians a like and we’ll talk about each one of this in detail in just a few minutes.
So as you may know the company was founded in 2002 by the founder of Intuitive Surgical and some of the early employees at Intuitive as well and since that time we achieved a number of important milestones to solidify our position as a leader in flexible robotics.
The company realized early on it could not alone develop technologies which would revolutionize the way medicine is practicing, so we created a number of partnerships along the way that help us commercialize the technology and visualize the technology within possible suite. These partners include Philips, Siemens and GE in the capital space and Intuitive Surgical and other for access intellectual property and new technologies.
2011 has been an exceptional year for us since we announced an important agreement with Philips in February of this year, relating to our shape sensing technology, as I mentioned earlier, we are beginning to commercial our vascular product in Europe.
Since joining Hansen last year, we have focused the business on three strategic initiatives as we chart our path to profitability. First, is to grow our existing business in EP and I’ll discuss how we are doing that shortly by compelling clinical data, new products, improved execution and outside the U.S., where we have products and benefits not yet available in the U.S. we are looking to expand both our direct and distributor presence.
Second to launch and grow our new platform in vascular and we are -- as I said early in our launch of our vascular system there and we anticipate U.S. clearance in Q2 of next year.
And finally, as we’ve discuss, we are focused on achieving operational excellence in everything that we do. In this third growth initiative we done much since I joined to focus on commercial execution and in particular I’m proud of the new leadership team I’ve assembled to focus the organization on charting our path to profitability.
So let’s first look at electrophysiology and for those of you not familiar with the product, it consists of two components. On the left of the slide you’ll see the capital equipment which consists of workstation where the physician sets comfortably not wearing lead out of the radiation field, manipulating the catheter with the joy stick.
And then the second component on the capital side is that robotic arm that you see positioned over the patient bed. The disposable product is either our navigation catheter we call Artisan or therapeutic catheter called the Lynx, which actually has an ablation to which we sell in Europe and that you will see as the small black piece of, so again, if you will coming of at the end of that robotic arm.