In March 2008, Possis Medical Inc was acquired by Medrad Inc. Originally incorporated in 1956 as Possis Corporation, the firm engaged in several businesses including a medical device subsidiary established in 1982. In 1990, decision was to focus on medical products and subsequently divested all non-medical operations. Possis Medical specializes in cardiovascular and vascular treatment devices with focus on mechanical thrombectomy, i.e. the rapid, safe and effective removal of blood clots from native arteries and veins, as well as from synthetic and saphenous vein grafts. The Company currently has a portfolio of three FDA indications for use of its AngioJet® Rheolytic⢠Thrombectomy System. The system has been used to treat over 100,000 patients in 1,000 locations worldwide. The AngioJet System is approved for the removal of blood clots from native coronary arteries and grafts. Heart attacks and heart disease is still the number one killer in the United States, and blood clots precipitate the acute event, i.e. the heart attack. The AngioJet System has been proven to be safe and effective in removing blood clots, or thrombus, from heart attack victims and from patients undergoing treatment of their bypass grafts. In addition, it is cost-effective for the hospital, lowering overall patient treatment costs. It is the only mechanical thrombectomy device approved for the coronary vasculature. The AngioJet System is also approved for thrombus removal from peripheral arteries of the legs. Peripheral vascular disease (PVD) can lead to catastrophic thrombosis of the limbs, leading to surgery or amputation. The AngioJet System is the only mechanical thrombectomy device approved for the peripheral arteries, and it has been shown to be rapid, safe and effective in removing thrombus from the larger vessels of the legs. The AngioJet is also FDA approved for removing thrombus from dialysis access grafts, which clot over because of the demands of repeated access for routine dialysis. The company has a current IDE submission for a clinical trial using the AngioJet System in ischemic stroke, which is caused by blood clots within the brain. Over the past years, Possis Medical has substantially improved its product offerings in its approved indications, primarily through the introduction of proprietary Cross-Stream⢠technology, which enhances the clot-cutting action at the tip of the catheter to clear out a higher volume of clot. The Company distributes its product domestically through a dedicated sales force. There is an extensive scientific bibliography of peer-reviewed journal articles covering approved indications, as well as potential new applications such as deep vein thrombosis and pulmonary embolism. The company expects to undertake several physician-directed studies aimed at increasing physician acceptance of the products. A key corporate goal is expand usage of the product by capturing additional FDA approved indications, and by enhancing the performance and utility of the AngioJet System by continuously introducing innovative new products which save lives, improve patient outcomes, and reduce co
