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Our area’s own fiscal cliff

As the nasty rhetoric and sputtering negotiations finally began leading toward a deal this week in Congress, ending the government shutdown and averting a potentially larger financial trauma over the federal debt ceiling, you could sense a huge exhale of relief across much of Colorado Springs and the Pikes Peak region. Nobody was saying so,… Continue Reading Our area’s own fiscal cliff

Homegrown manufacturing saves lives

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Homegrown manufacturing saves lives

A few years ago, a woman was facing the news she would need a double amputation below her knees because the arteries in her legs were diseased and blocked. A snowstorm delayed the surgery, and the woman went on the Internet to explore options for her condition. She found Spectranetics and a few phone calls… Continue Reading Homegrown manufacturing saves lives

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Local CEO: Excise tax hampers innovation

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Most of the focus of the Affordable Care and Patient Protection Act has focused solely on the insurance provisions in the law — whether it’s legal to require people to have health insurance. But another regulation, found deep in the bill, is causing problems for a company in Colorado Springs. “The medical device tax is… Continue Reading Local CEO: Excise tax hampers innovation

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Penrose builds reputation for high-tech surgery

The operating room at Penrose-St. Francis Health Services is filled with doctors and nurses who surround the patient, checking vital signs, prepping instruments and getting ready for the main event. When Dr. John Mehall enters, everything is in place. Nothing is rushed; no one hurries. There’s no wasted motion; this isn’t an emergency. Mehall performs… Continue Reading Penrose builds reputation for high-tech surgery

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Spectranetics Corp., a Colorado Springs-based medical device manufacturer, announced today that it plans to buy Israeli medical-device maker Upstream Peripheral Technologies for $5.5 million, plus additional milestone payments. Upstream Peripheral Technologies, an affiliate of  ARAN Research Development & Prototypes Ltd., has produced tools that streamline peripheral vascular procedures and minimize radiation exposure. The acquisition allows Spectranetics to expand its vascular intervention… Continue Reading Spectranetics buying Israeli medical device maker for $5.5 million

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The former CEO of a company accused of importing medical devices that the U.S. government hadn’t cleared for use has been convicted of a single count of lying to federal investigators. A federal jury in Denver convicted former Spectranetics Corp. CEO John Schulte on Thursday of the lying charge but acquitted him of 11 other… Continue Reading Ex-Spectranetics CEO convicted on 1 count of lying

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Spectranetics Corp. recorded revenue of $32.2 million during the second quarter, a 7 percent increase above last year for the same period. “The second quarter results reflect continued progress on our key growth initiatives,” said Jason Hein, senior vice president of sales, marketing and business development. “Laser placements remain strong.” The company’s lead management revene… Continue Reading Spectranetics reports 7 percent revenue increase

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Spectranetics names new CEO

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Spectranetics Corp. has hired Scott Drake as president and CEO, effective Aug. 10. Drake is leaving DaVita Inc., a provider of kidney care and dialysis, where he held the position of senior vice president of operations. He was responsible for business operations that generated about 20 percent of the company’s $6 billion revenue. He has… Continue Reading Spectranetics names new CEO

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After a couple of years of revenue losses and trouble with the federal government, Colorado Springs-based Spectranetics says it’s on its way to returning to profits and growth. The medical laser manufacturer lost $154,000 in the first quarter of the year, that’s more than 80 percent less than the $958,000 lost just a year earlier.… Continue Reading Spectranetics: First quarter loss 80 percent lower than 2010

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Spectranetics Q4 profit the most in three years

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Spectranetics fourth quarter 2010 earnings was its largest quarterly profit in more than three years. The Colorado Springs-based company made $513,000 during the quarter, compared to an operating loss for the same period in 2009. The 2009 loss represented a $5 million settlement with the federal government, ending uncertainty over allegations that the company illegal… Continue Reading Spectranetics Q4 profit the most in three years

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