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This article was originally published in The Gray Sheet

Executive Summary

First application of a proprietary transvenous lead with a dual chamber pacemaker/implantable cardioverter defibrillator for treatment of congestive heart failure will occur "by the end of this month or for sure early in this quarter," company President and CEO Ron Dollens tells investors at the Hambrecht & Quist conference Jan. 11. "We think we know how to get to a location in the left ventricle that will give us optimal outcome and one will be able to discriminate the difference in that outcome," he notes. Separately, Dollens addresses Wall Street concern over potential pricing pressure in the U.S. coronary stent market. "What we do know about price is there has been some slight erosion in the U.S. market and we would represent that it declined 1% sequentially in the fourth quarter from the third quarter, so it does seem to be holding relatively nicely." He notes that average selling prices for stents advanced 11% during 1998

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