Marvin P. Loeb, Chairman and CEO of Trimedyne, Inc., Talks to The Wall Street Transcript.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- The Wall Street Transcript has published an in-depth interview with Dr. Marvin P. Loeb, Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Trimedyne, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :TMED TMED Transfusion Medicine ), in which he talks at length about the Company. The entire 2,500 word interview is available free online at http://www.twst.com/ceos.htm and will be archived and updated periodically. The interview will also appear in the July 24 Medical Device issue of The Wall Street Transcript. Trimedyne manufactures lasers and proprietary fiber optic devices for a variety of minimally invasive surgical procedures Surgical procedures have long and possibly daunting names. The meaning of many surgical procedure names can often be understood if the name is broken into parts. For example in splenectomy, "ectomy" is a suffix meaning the removal of a part of the body. "Splene-" means spleen. . Trimedyne recently developed and received FDA FDA abbr. Food and Drug Administration FDA, n.pr See Food and Drug Administration. FDA, n.pr the abbreviation for the Food and Drug Administration. clearance to market a new type of side firing laser device. Trimedyne's new side firing laser device will be marketed by Boston Scientific Corporation in the United States and Japan and by Lumenis, Ltd. sales organization elsewhere throughout the world for use with Lumenis' Holmium holmium (hōl`mēəm) [Lat.,=Stockholm], metallic chemical element; symbol Ho; at. no. 67; at. wt. 164.9304; m.p. about 1,474°C;; b.p. about 2,425°C;; sp. gr. 8.78 at 25°C;; valence +3. lasers for the treatment of enlarged prostates in men. This condition affects about 50% of men over age 55 and represents a $700 million worldwide market opportunity to Trimedyne. In addition, Trimedyne produces Holmium lasers and side firing laser needles that are used to treat herniated herniated /her·ni·at·ed/ (her´ne-at?ed) protruding like a hernia; enclosed in a hernia. her·ni·at·ed adj. or ruptured discs in the spine in minimally invasive outpatient procedures. The treatment of herniated and ruptured discs represents another $500 million market opportunity for Trimedyne. Trimedyne has an extensive portfolio of patents covering side firing laser technologies. When asked about the company's mission, Dr. Loeb stated, "Our goal is to develop unique products with strong patent protection and enable people to avoid surgery. We've demonstrated that we can develop innovative, less invasive, patented medical devices that offer benefits over conventional surgery. In addition, we have shown that we can operate profitably." Regarding the company's financial situation, Dr. Loeb stated, "Trimedyne's fiscal year end is September 30. We had a profit of about $1 million on sales of $6.5 million in fiscal 2003, and a profit of about $1 million on sales of $6 million in fiscal 2004. In fiscal 2005, our profit was only $190,000 on sales of $6.5 million, as increased costs associated with the development and testing of our new side firing laser device and other expenses reduced our profit. It's too early to predict our financial results for 2006 or 2007. We will be better able to do so early next year. With our new marketing alliance with Boston Scientific and Lumenis, we have two large, aggressive marketing partners to sell our new side firing laser device." The Wall Street Transcript does not endorse the views of any interviewees nor does it make stock recommendations. For subscription information call 800/246-7673. |
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