Teleflex ($TFX) announced April 9 that it is rolling out its Arrow VPS catheter tip location and guidance system for commercial sale in Europe, after obtaining regulatory approval there.
The Pennsylvania maker of medical devices for surgery and critical care noted that the Arrow VPS has been sold in the U.S. since January 2011. Teleflex bills the Arrow VPS system as standing out, in part, because it reduces complications during catheter placement. The product uses a proprietary vascular positioning system technology and is compatible with central venous and peripherally inserted central catheters.
"This clearance puts us in a position to establish a new standard of care in catheter placement in Europe," Paul Molloy, head of the company's vascular division, said in a statement.
Vascular access products are counted in Teleflex's critical care division--the company's largest by far--which generated more than $1 billion in net revenue in fiscal 2011, out of nearly $1.5 billion in overall net revenue, according to the company's annual regulatory filing. Critical care sales generated close to $943.4 million in net revenue in fiscal 2010.
Part of that revenue bump comes from Teleflex's $55 million acquisition of VasoNova in January 2011, to gain access to VasoNova's central venous catheter navigation technology. That company is now a Teleflex subsidiary and handles the Arrow VPS marketing. Teleflex's stock closed at $61.87 on April 5, after mixed trading during the week. The stock market was closed April 6 for Good Friday.
- here's the release