vFinance Issues Report on Drug-Eluting Stent Technology; Firm Identifies Companies That Have the Most to Gain or Lose
Business Editors/Health/Medical Writers
NEW YORK–(BUSINESS WIRE)–March 25, 2004
vFinance Investments, Inc. (OTCBB:VFIN), a leading financial services firm providing research, investment banking and brokerage services to corporate, institutional and private clients, has released a sector report analyzing the impact Drug-Eluting Stent (DES) technology will have on the medical device industry. The report identifies those firms that have the most to gain and lose for the adoption of DES.
DES is a revolutionary technology for the treatment of coronary artery disease. vFinance’s proprietary Entrepreneurial Confidence Index (ECI), which measures entrepreneur and private equity investor interest identified medical supplies and devices as an area showing significant increase in activity. Further investigation resulted in the identification of DES as a new technology that was getting a lot of entrepreneur and investor interest.
Drug-Eluting Stents are wire-mesh cylinders coated with pharmaceuticals and inserted into arteries or blood vessels to prevent restenosis, the re-narrowing or clotting of a diseased artery, after angioplasty surgery. This revolutionary technology is changing interventional cardiology by allowing cardiologists to treat more patients utilizing angioplasty rather than open heart surgery, thereby cutting medical costs and improving patient recovery prospects.
Citing industry data, vFinance research analyst Carmelo Troccoli notes: “The DES market is expected to grow 25% year-over-year to $6.3 billion by 2008. The new devices have been proven to reduce restenosis by 60.0% to 70.0% when compared to bare-metal stents, and surgery cost by 50% when compared to invasive coronary artery bypass graft surgery.”
“vFinance’s Entrepreneurial Confidence Index, gives us the ability to identify innovation at its earliest stages,” said Ken McCarthy, chief economist at vFinance Investments, Inc. “Our ability to alert clients to the earliest indications of emerging technologies and industries gives them invaluable investor insight.”
The report features six public companies that participate in the DES space: Medtronic, Inc. (NYSE:MDT), Boston Scientific Corporation (NYSE:BSX), Angiotech Pharmaceuticals, Inc. (Nasdaq:ANPI), SurModics, Inc. (Nasdaq:SRDX), Endovasc, Inc. (OTCBB:EVSC) and MIV Therapeutics, Inc. (OTCBB:MIVT).
vFinance, Inc. is a rapidly growing financial services company that provides research, investment banking, brokerage and trading services to more than 10,000 corporate, institutional and private clients worldwide. The Company has offices in New York, San Jose, Houston, Boca Raton and 24 other cities nationwide. Its subsidiary, vFinance Investments, Inc., is a registered broker-dealer with the SEC and a member of the NASD.
http://www.vfinance.com, the company’s Web site, is a leading destination on the Internet for companies seeking capital, as well as institutional and high net-worth investors seeking dynamic high-growth companies. Each year, the site hosts more than one million visitors from over 90 countries. This audience creates a perpetual, global deal stream for vFinance’s bricks-and-mortar financial service units and enables vFinance Investments’ Research Department to identify emerging trends, market segments and pioneering firms.
For vFinance Investors
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