Endologix European Initiative Bearing Fruit

Californian vascular company Endologix has been pretty active in recent times. Until mid 2011 the company had a European distribution agreement with LeMaitre Vascular for certain of its products, an agreement which was terminated early in order for the companies to do their own thing.

At the time, John McDermott, President and Chief Executive Officer of Endologix, commented, “This agreement allows us to accelerate our planned transition to a direct sales force in Europe and gain control of the sales channel at an important time in the development of our European business.  It provides us with the opportunity to begin establishing a presence and developing physician relationships ahead of the anticipated European launch of our Nellix® Endovascular System and Ventana™ Fenestrated Stent Graft System in 2012.”

Shortly afterwards the company announced FDA clearance and first U.S. commercial implant of its AFX™ Endovascular Abdominal Aortic Aneurysm System and now we’ve heard that the device has been implanted in Italy for the first time, by Prof. Gioacchino Coppi, Associate Professor and Chief of Vascular Surgery and Endovascular Therapy at Modena University hospital.

Endologix recently reported global revenue in the fourth quarter of 2011 of $23.4 million, a 22% increase from the same quarter of 2010. U.S. revenue was reportedly $19.4 million in the fourth quarter of 2011, a 26% increase from the fourth quarter of 2010, and included increased sales related to the U.S. launch of the AFX™ System.

International revenue was $4.0 million in the fourth quarter of 2011, a 4% increase from the fourth quarter of 2010, suggesting that the company, while still not a big player in Europe, has done the right thing by taking control of its sales and marketing operations on our continent.

We will be keeping an eye on them and reporting as appropriate.

Source: Endologix