Vycor Medical Releases
Financial Results for the twelve months ended
December 31st, 2014
Vycor VBAS up 23% compared to
Non-GAAP Net Loss reduced by 7%
BOCA RATON, FL (March 31, 2015)
Vycor Medical, Inc. (Vycor)
(OTCQBVYCO), today announced financial results for the year ended December 31,
●ViewSite Brain Access System (VBAS) has continued
to gain traction through product approval in 35 new U.S. hospitals during the
year, and is now approved in more than 180 hospitals in the U.S. with additional
hospitals in the approval process.
●Internationally, Vycor Medical entered into
evaluation or distribution agreements during the year covering Brazil, France,
India, Israel, Russia, South Africa, Sri Lanka and Taiwan.
●Scientific data on VBAS' clinical advantages
continues to be built: surgeons from Weill Cornell Medical College presented
their work on minimally invasive neurosurgical approaches using VBAS at
neurological conferences in Xian, China, Prague and the CNS in Boston, and had
two peer review papers detailing this work published in March 2015, including one
in the prestigious Journal of
Neurosurgery which featured VBAS on its
front cover; and surgeons from Sapporo Medical University in Japan also published a
study using VBAS. Peer reviewed clinical data is very important in driving
surgeon and hospital adoption which in turn drives revenues.
●Entered into a manufacturing agreement with an
Asian-based manufacturer for the production of two new smaller VBAS devices that
will facilitate endoscopic work within the ventricles including the placement of
catheters. Vycor is progressing the manufacturing build and validation program
for these devices which will be available in the fourth quarter of
●Completed the development of a new VBAS prototypes
specifically designed to house the optical pointers utilized in image-guided
systems. The optical pointers will be firmly held in place in the introducer
through a novel approach while the working channel will remain unchanged. The
Company plans on having four new IGS compatible devices, available in the second
half of 2016.
The following information was filed by Vycor Medical Inc (VYCO) on Tuesday, March 31, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.