MINNEAPOLIS, Minn., Sept. 12, 2007 (PRIME NEWSWIRE) -- Vascular Solutions, Inc. (Nasdaq:VASC) was named as a small and growing company finalist in the medical technology category for the 2007 Tekne Awards, which will be held at the Minneapolis Convention Center on November 1. The Tekne Awards recognize Minnesota's outstanding technology achievements and leaders.
Vascular Solutions' CEO, Howard Root, credits the company's focus and employees for this recognition. He said: "Vascular Solutions' emphasis on underserved clinical opportunities has allowed us to achieve substantial revenue growth through rapidly researching, developing and launching new clinical solutions for vascular medicine. Rather than focus on just one product like most small medical device companies, we have launched over 20 new products since 2003 through the dedicated efforts and achievements of our employees."
Presented by the Minnesota High Tech Association (MHTA), in partnership with LifeScience Alley and Minnesota Technology, Inc., the Tekne Awards annually recognize Minnesota's best and brightest technology users and developers in innovation, development, education, commercialization and management of technology in Minnesota. On November 1, one recipient from a pool of three finalists will be named in 16 categories at the Awards ceremony. Award categories recognize leaders and technology businesses that are small and growing (with annual revenues under $50 million) and established (with annual revenues of $50 million or more).
"The Tekne Awards have celebrated the growth of Minnesota's technology-based companies for nearly a decade and continue to recognize those who make groundbreaking contributions as technology continues to change and expand," said Kate Rubin, president of MHTA. "With the quantity and quality of award entries increasing significantly again in 2007, this year's award finalists prove that Minnesota is a hotbed for outstanding achievement and innovation in technology."
About Minnesota High Tech Association (MHTA)
The Minnesota High Tech Association (MHTA) accelerates the growth, sustainability and global competitiveness of Minnesota's technology-based economy through public policy advocacy, member collaboration and education, and community outreach. MHTA is the only membership organization that represents Minnesota's entire technology-based economy. MHTA members include organizations of every size - involved in virtually every aspect of technology creation, production, application and education in Minnesota. MHTA works in partnership with AeA, which represents Minnesota's technology organizations nationally. Find out more online at www.mhta.org.
About Vascular Solutions
Vascular Solutions, Inc. is a medical device company that focuses on developing unique solutions for unmet clinical opportunities within Interventional radiology and Interventional cardiology. New products introduced since the second half of 2003 include the Vari-Lase(r) endovenous laser product line for the treatment of varicose veins, the D-Stat Dry hemostatic bandage for the rapid control of topical bleeding, the Pronto extraction catheter for the mechanical extraction of soft thrombus, the Langston(r) dual lumen catheter for the measurement of aortic stenosis and the Twin-Pass dual access catheter for dual wire access in interventional cardiology procedures.
The information in this press release contains forward-looking statements that involve risks and uncertainties. Our actual results could differ materially from those anticipated in these forward-looking statements. Important factors that may cause such differences include those discussed in our Annual Report on Form 10-K for the year ended December 31, 2006 and other recent filings with the Securities and Exchange Commission. The risks and uncertainties include, without limitation, risks associated with the need for adoption of our new products, limited working capital, lack of profitability, exposure to intellectual property claims, dependence on key vendors, exposure to possible product liability claims, the development of new products by others, doing business in international markets, limited manufacturing experience, the availability of third party reimbursement, and actions by the FDA.
For further information, connect to www.vascularsolutions.com.