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Vycor Medical, Inc. (VYCO) Expanding Reach in the Medical Industry through Operation of Complementary Business Units
Vycor Medical, Inc. (OTCQB: VYCO) is changing and improving lives every day by providing the medical community with innovative and superior surgical and therapeutic tools, including a growing portfolio of FDA-cleared medical solutions. The company currently operates two unique but complementary business units, Vycor Medical and NovaVision, which adopt a minimally or non-invasive approach to a collection of underserved medical applications.
Through its Vycor Medical unit, the company designs, develops and markets the ViewSite Brain Access System (VBAS), a proprietary suite of clear cylindrical disposable devices used to gain access to specific neurological sites, such as tumors within the brain. Vycor’s innovative medical instruments are designed to optimize neurosurgical site access, reduce patient risk, accelerate recovery and add tangible value to the professional medical community.
In recent months, the company has made significant headway toward expanding VBAS’s presence within the medical industry, increasing the number of U.S. hospitals for which the system is approved to more than 190 during the first quarter of 2015. In large part, this growth has come as a result of increasingly prevalent scientific data on the system. According to a recently released study on VBAS published by surgeons from Sapporo Medical University in Japan, the suite is believed to provide a safer, more reliable, and less invasive method for the treatment of deep-seated brain tumors.
“We continue to make good progress with our VBAS product and the new studies we are anticipating this year together with the launch of additional products makes me confident this will translate into increased VBAS penetration and greater market acceptance during the course of this year,” stated Peter Zachariou, chief executive officer of Vycor, in a recent news release.
Through its NovaVision unit, Vycor targets a substantial and largely unaddressed market of people who have lost their sight as a result of stroke or traumatic brain injury. The company’s family of therapies, which are clinically supported by decades of scientific research, both restore and help to compensate for lost vision.
NovaVision’s unique product offerings have gained significant industry traction in recent months. Late in 2014, the company received receipt of approval from HealthSouth to offer the NovaVision VIDIT diagnostic device, and, earlier this month, Vycor continued on this success by partnering with HealthSouth for a second time to make available its NeuroEyeCoach Professional Center therapy program. These two agreements provide the company with access to a potentially massive source of patients, as HealthSouth is one of the largest providers of post-acute healthcare services in the country.
“NovaVision is now positioned, for the first time, with the suite of therapies and product offerings to deliver on our strategic vision: to provide a clinically supported, affordable and scalable visual therapy solution offering broad benefits to those suffering from visual impairment following neurological damage,” continued Zachariou.
Moving forward, Vycor is in an increasingly strong position to realize enhanced returns. Despite a slim decrease in reported year-over-year revenue for the first quarter of 2015, the company’s recently announced agreements with HealthSouth, as well as expanding product approval rates for the VBAS, make Vycor an intriguing option for prospective investors in the months to come.
For more information, visit www.vycormedical.com
