VNUS Medical Technologies (VNUS)

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Greg Aurand

www.zacks.com

VNUS Medical Technologies, Inc. is a leading provider of medical devices for the minimally invasive treatment of Saphenous Vein Reflux Disease. Saphenous Vein Reflux Disease is a progressive condition caused by saphenous vein valve failure, and is characterized by the poor return of blood from the legs to the heart. As blood pools in the vein, the disease results in symptoms such as leg pain, swelling, fatigue, skin ulcers, and painful varicose veins. The company's main product line, the Closure RF System, consists of a proprietary radio frequency, or RF generator, and proprietary disposable endovenous (inside the vein) catheters to close diseased veins, through the application of temperature-controlled RF energy. Since January 1995, the company has focused on the development of minimally invasive treatments for Venous Reflux Disease. The Closure System was launched in Europe in late 1998 and in the United States in late 1999. The company utilizes a direct sales force in the United States, and markets the Closure System internationally, primarily through distributors. In the fourth quarter 2006, revenues were derived from the sale of disposable catheters, RF generators, and accessory products, which were 78%, 15%, and 7% of revenues, respectively. Total 2006 revenues were $51.6 million.

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