Guidant Transfers Accounts To Novoste, Exits Vascular Brachytherapy
This article was originally published in The Gray Sheet
Executive Summary
Guidant will terminate production of its Galileo intravascular radiotherapy system and exit the vascular brachytherapy (VBT) market altogether over the next six months, the firm announced April 22
You may also be interested in...
Novoste CEO’s Challenge: Stabilize Brachy Biz Or Ink Merger While Cash Lasts
Novoste's cash burn rate of about $1 mil. per month puts pressure on management either to acquire a growth platform to augment flagging Beta-Cath vascular brachytherapy revenue or sell the company
Novoste CEO’s Challenge: Stabilize Brachy Biz Or Ink Merger While Cash Lasts
Novoste's cash burn rate of about $1 mil. per month puts pressure on management either to acquire a growth platform to augment flagging Beta-Cath vascular brachytherapy revenue or sell the company
Novoste no more?
Last remaining player in vascular brachytherapy market retains Asante Partners LLC to assist "efforts to identify and implement strategic and financial alternatives." They include a possible "merger, business combination or other disposition of its business or assets," the firm explains Oct. 14. The market for Novoste's Beta-Cath brachytherapy system to treat in-stent restenosis has declined rapidly since the introduction of drug-eluting stents. The firm booked revenues of $5.8 mil. in Q2 (ended July 22), down from $17.6 mil. for the 2003 period (1"The Gray Sheet" April 26, 2004, p. 7)...