A representative for a Colorado Springs company that makes medical lasers said recent management woes are behind it, that new products will be developed, and that new markets are being sought for its products.
Spectranetics Corporation has recently been embroiled in proxy fights and fired two of its senior executives over management issues. Executives said those issues are solved and that it is aggressively exploring potential new markets for its products.
The company manufactures medical lasers and promises to cut $500,000 in expenses while focusing on marketing, and research and development.
Clinical trials are underway that would permit the use of its lasers in breaking up blockages in leg and foot arteries. Officials said the market could be worth as much as $500 million.
Emile Geisenheimer, the firm’s chair and acting chief executive officer, said the company must expand its marketing and develop new products. The fired former executives and another board member attempted to oust Geisenheimer from his position earlier this spring.
Geisenheimer said former CEO Joseph Largey was too focused on selling existing products and not developing new ones.