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Hansen Medical, Inc. (HNSN)
JP Morgan Healthcare Conference Call
January 12, 2012 2:30 PM ET
Bruce Barclay – President and CEO
Unidentified Company Representative
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Thanks Chris, good morning everybody. Thanks for being here this morning. We’re happy to be here. With me this morning is Pete Mariani, Pete is our Chief Financial Officer and you’ll hear him. And he’ll be available to Q&A here following the prepared remarks.
I will be making forward-looking statements this morning. I would encourage you to read the information in this slide and also in our Securities filings as they contain important information.
So, Hansen Medical is a leading provider of flexible robotics. We believe poised for growth in the $1 billion plus medical robotics market. We very much believe flexible robotics is a platform technology. We have chosen though to focus ourselves on two key clinical areas.
First is Electrophysiology or EP for short and the second is the Vascular Opportunity. First in Electrophysiology, we sell the product called the Sensei Robotic system, we’ve been selling that system in the US and Europe since 2007. We have a growing clinical utilization having conducted more than 7,000 procedures with that system in patients around the world. And that clinical utilization is growing every month.
We’ve also got a significant installed base of robotics systems in electrophysiology market. We’ve shipped 104 systems through September of 2011. And we are shipping more systems every quarter.
We’re also very excited about a new opportunity for the company in the, Vascular space. We’ve recently got a CE mark approval for our vascular robot which we call the Magellan System. In Europe, in Q4, we have placed our first system, we’ve got clinical cases coming out of that first system as well and we’ll talk much more about that in a few minutes.
And lastly, we continue to invest heavily in R&D. We believe our pipeline is very important to our future success, we are developing products for use with those two robotic systems and we have a – what we believe a game changing shape sensing technology which we call FOSSL for improved visualization of catheters used in minimally invasive procedures and again, we’ll talk more about that in just a minute.
So, the company was founded in 2002. We’ll celebrate our 10th anniversary this year. Since that time, we’ve achieved a number of significant accomplishments which we believe that positions us well to be the leader of – in the flexible robotic space. You don't change the way medicine is practiced relative to medical robotics without a lot of good partnerships and we have several of them.
On the capital side, we’ve got partnerships with Philips and GE and Siemens. On the intellectual property and products side, partnerships with Intuitive Surgical, we have an important cross-license from them to some patents and run (ph) technology on our FOSSL.
2011 was a very good year for us. We continue to improve and grow our electrophysiology business in 2011. Obviously we got our Magellan System launched in Europe and towards the end of the year. And in the early part of the year, we signed an important license agreement with Philips Healthcare, relative to the shape sensing technology and we’ll talk more about that in a minute as well.
So, I’ve been with the company a little over a year. We are focused very much on these strategic growth initiatives, driving our EP adoption, launching our vascular business and achieving operating excellence in all that we do. We’ll talk more about these later in the slides. But relative to driving our EP adoption, we are – have launched new products but we’ll be launching new products going forward. We continue to invest heavily in clinical data and the publication of that data when it comes out.
We’ve done a significant upgrade of our commercial team especially in the US, we’ve hired and have established in my opinion one of the best training centers for a company anywhere. And it really I think goes to a lot of success we’ve seen in EP and we’ll see in the vascular space. On the vascular side, again, it’s all about Magellan and we’ll go into detail on that and lastly, operational excellence.
Relative to that last component, since I’ve joined the company, we have added a number of new experienced senior officers to the company. We’re very proud of our leadership team at Hansen Medical and we are very focused on commercial execution.
So, let’s talk about electrophysiology. Many of you are familiar with the Sensei Robotic system, I’ll just focus on this quickly for a second to remind you all, consists of two components. There is a capital component and a disposable component.
The capital consists of two components there is a workstation which you see in this picture, as a physician setting at a console, joystick in his hand. He’s got visual cues in front of him that you would have if you are standing beside the patient. And he’s able to manipulate the catheter up to 100 feet away from the patient’s bed, outside the radiation field not wearing lead.