Spectranetics Eyes Double-Digit Growth in 2002 and 2003

COLORADO SPRINGS, Colo., Feb. 11 -- The Spectranetics Corp. said it intends to place 30-50 new lasers this year in order to strengthen its market position before the FDA approves peripheral atherectomy in the legs, which it expects to receive in 2003.

Joseph A. Largey, president and chief executive officer of Spectranetics, said, "Spectranetics successfully implemented a financial turnaround in 2001, achieving profitability and positive cash flow. In 2002, making our lasers available to the medical community is critical. We are targeting high-volume medical facilities that can use our laser for multiple applications, including coronary atherectomy and lead removal, and that show significant potential for peripheral atherectomy once we receive FDA approval."