Teleflex ($TFX) picked up European approval to market its GPSCath device, designed to prop open vessels and reduce procedure times for vascular interventions.
The company acquired the technology in its $15 million buyout of California's Hotspur last summer, and the device is a two-in-one balloon dilation catheter using Teleflex's VisioValve injection system. GPSCath maintains guidewire position in the vessel, clearing the way for high-pressure angioplasty, all while administering any fluids physicians choose.
"There are approximately 20 million patients with peripheral vascular disease that could benefit from this multi-purpose approach to catheter design, and we are excited to bring this innovative peripheral access product to market," CEO Benson Smith said in a statement. "The Arrow GPSCath balloon dilatation catheter with VisioValve technology is setting a higher bar for peripheral and dialysis access angioplasty performance."
Teleflex has been gradually upping its market share through new launches in its Arrow line of vascular products, last month winning FDA clearance for its VPS G4 vascular positioning device and launching the Jugular Axillo-subclavian Central Catheter around the globe.
Last quarter, Teleflex's revenue climbed 8.2% to $411.9 million, buoyed by a 12% jump in critical care sales, which reached $287 million. The company reported net income of $27.5 million, far better than Teleflex's $284.3 million loss in the same period last year.
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