Good news on VASO
The medical-device maker is based in Westbury, N.Y., and is actively engaged in bringing its enhanced external counterpulsation system, or EECP, into the marketplace. These EECPs are designed to treat patients with coronary artery disease without using invasive surgery, thereby minimizing trauma to the delicate heart muscles. The technology behind the system is deceptively simple. It uses pressurized cuffs to squeeze veins and arteries in the legs to help circulate blood and then deflates these same cuffs when the heart pumps, reducing the load on the heart. A computer organizes the entire system to syncopate with a patient's heartbeat.
Today Vasomedical announced that its second-quarter revenue from the sale and lease of these EECPs was $3 million, more than 700% better than last year's $364,000. Per-share earnings were nil in the same period, beating last year's 4-cent loss.
The company said the reason for the increase in revenue and earnings was due to a decision by the Health Care Financing Administration, the government agency controlling Medicare, to cover the use of EECPs nationwide. |
