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. Read the rest of this transcript for free on seekingalpha.com