IPO Profile

VNUS Medical Technologies
2200 Zanker Road, Suite F, San Jose, California 95131
Tel: 408-473-1100
Web: https://www.vnus.com
Ticker: VNUS
Amount Raised: $80,700,000.00

Description:
Our Closure system provides the benefits of a minimally invasive procedure and in a randomized clinical trial was established to be as effective as vein stripping, with fewer side effects and faster recovery. Vein stripping is an open surgical procedure that has historically been the standard of care for venous reflux disease. We market the Closure system in the United States through our direct sales organization of 44 people, and our Closure procedure is accepted by the policies of over 90 health insurers, representing over 160 million covered lives in the United States. We estimate that in excess of 60,000 patients have been treated using our Closure system since 1999, with approximately 18,000 of those patients treated in the first half of 2004. For the six months ended June 30, 2004, we had revenues of $16.9 million and we were profitable.