In spite of a difficult U.S. capital equipment environment, we continued our successful market expansion programs for Volcano’s IVUS and FM offerings during the quarter as we placed 210 IVUS consoles, nearly double the consoles placed in the same period a year ago. In addition, our combined IVUS and FM revenues increased 24 percent versus the first quarter of 2008, including an 82 percent increase in FM disposable revenues, said Scott Huennekens, president and chief executive officer of Volcano.
Helping to drive adoption were the technology leadership of our offerings, our expanded sales force and the ongoing release of data that demonstrate the value of using IVUS and FM to diagnose and treat patients, he added.
The company said that it is also accelerating its direct sales program in Japan and is in negotiations with Goodman, its largest Japanese distributor, regarding the transition, and expects to discontinue distribution through Goodman over the next two quarters.
We feel very positive about our market position and the momentum we have in Japan, Huennekens noted. We now have nearly 40 sales representatives in the market and expect to add significantly to our infrastructure in Japan during the balance of the year as we move to assume direct control of our sales and marketing efforts there, he continued.
