Previous Statements by ELGX
» Endologix's CEO Presents at Oppenheimer 22nd Annual Healthcare Conference - Event Transcript
» Endologix's CEO Hosts Lazard Capital Markets 8th Annual Healthcare Conference Call Transcript
» Endologix's CEO Presents at Stephens Inc. Fall Investment Conference - Conference Call Transcript
» Endologix's CEO Discusses Q3 2011 Results - Earnings Call Transcript
In the United States now, little over 60% of the AAAs are repaired with endovascular therapy and another 40% are still treated surgically. The reason for that I’ll touch on as I go through the presentation is really primarily related to the wide range of different types of anatomies that we still see in the devices that are currently available are not suitable to treat all those different anatomies.This is the current EVAR market. This is for devices that are used below the renal arteries. And the location within the aorta will become important as we talk about how we’re going to expand the market moving forward in our product portfolio. But if you just took last year’s total global sales of these devices used below the renal arteries, it’s about $1 billion. And you can see the segments, 60% of that is in the US, and you can see those relative market percentages. So, 85,000 procedures on a worldwide basis, and you can see the average selling prices are relatively high. We tend to have one of our clinical specialists or salespeople in the OR for every case. So this is a very high-touch, high-clinical type of sales. This is the competitive landscape. All of the devices over the right, which we call proximal fixation or really the first generation or traditional types of devices, they look very similar to a surgically implanted graft. And in fact, that’s how the development evolved. They were surgically implanted graft, to which they sowed stents and they have put these devices inside catheters and they were delivered through the legs, as I mentioned. Our device over on the left is fundamentally different. You can see that it sits. It actually sits on the patient’s native bifurcation. And that’s how it gets its fixation. With all of the other devices, they are deployed up near the renal arteries, and when they come out, there is anchors, hooks and barbs that attach and try to adhere to the vessel valve for their fixation. That’s how they are put into place.
Unlike all of those devices, ours is actually positioned to sit right on the patient’s native bifurcation. So we get our stability. We don’t hang from the artery like the other devices. We actually sit on that patient’s natural bifurcation. The advantage to that is we can’t lose our purchase. There’s nowhere for the device to go. So we’ve got very good long-term clinical data.The other advantage to that is we preserve that bifurcation. So if you put in any of the other competitive devices, once that device is in, you can no longer go back through that graft if you ever wanted to do a future peripheral intervention, which is common. About a third of aneurysm patients also have peripheral arterial disease, and the preferred approach to treat somebody with PAD has come in from one side of the groin and cross over to treat the lesion on the other side. Once you have one of the competitive devices in place, you can no longer do that. So it’s the only device that preserves the ability to go back over the bifurcation for future interventions. And that has become more and more important as you get a larger installed base of these Endografts and these patients are living longer and they are coming back now with PAD and it becomes a problem for the doctors to treat them with the exception of our device. So we kind of grew up being the other guy. The analogy we use in the company is we’re – you need more than one type of screwdriver in your toolbox. You’ve got a Phillips-head and a fly head, and we are the Phillips. And we grew up treating some more challenging anatomies than the other companies. But over the last few years, as we’ve worked our way into physicians’ practices, they’ve realized they can use us for the common cases as well as the challenging cases, and that has contributed to our growth, as well as we’ve worked hard to broaden the range of sizes that the device can now treat and made it easier to use. Read the rest of this transcript for free on seekingalpha.com