At Long Last, Spectranetics Turns a Corner
After 17 straight years of losses, Spectranetics turned its first profit last year. Company officials believe they can sustain profitability going forward.
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After a bright promise in the early 1980s, cardiac lasers fell out of favor due to high complication rates and equivocal clinical results. Laser pioneer Spectranetics faced those problems and more, causing the company to languish in the 1990s. Now its back, with a new marketing partner, US Surgical, in a hot new area, TMR, and a strategy that allows the company to spread its risk.
Series C investment of an undisclosed amount announced in early May follows $20m funding for the Los Angeles company from Volition Capital and angel investors.
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