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Acutus Medical, Inc. (Nasdaq: AFIB) is a pioneering company in the field of arrhythmia management, focused on improving the way cardiac arrhythmias are diagnosed and treated. Based in Carlsbad, California, and founded in 2011, Acutus is dedicated to advancing electrophysiology with innovative products and technologies that enable more efficient and effective treatments for complex arrhythmias.
Acutus Medical has attracted some of the most respected experts in electrophysiology and cardiac device manufacturing, creating a strong network of global collaborative partners. Their mission is to provide electrophysiologists with the highest quality suite of tools and exceptional clinical support to better understand and treat complex arrhythmias. This mission is driven by the need for advanced technology in the high-growth electrophysiology market, addressing unmet needs for evidence-based approaches to treating atrial fibrillation, ventricular tachycardia, and other complex arrhythmias.
The company's product portfolio includes the AcQMap® Mapping System, the AcQMap 3D Mapping Catheter, the AcQBlate® Force-Sensing Ablation Catheter, and the AcGuide™ Max 2.0 Steerable Sheath. These products are designed to provide a complete solution for catheter-based treatment of cardiac arrhythmias.
Recently, Acutus announced a strategic realignment to focus exclusively on the production and distribution of left-heart access products for Medtronic, Inc. This shift aims to optimize financial performance and maximize cash flow. As part of this restructuring, Acutus will wind down its electrophysiology mapping and ablation business, significantly reducing its workforce and operational expenses.
Financially, Acutus reported significant growth in revenue from its continuing operations, driven by its partnership with Medtronic. For example, first quarter 2024 revenue was $3.6 million, a 192% increase compared to the same period in 2023. The company has also seen improvements in gross margins and reductions in operating expenses, highlighting the benefits of its strategic focus.
Despite challenges, including the need to manage expenses and cash burn rates, Acutus remains committed to its mission and continues to innovate and support the medical community with advanced solutions for cardiac arrhythmia management.
Acutus Medical, an arrhythmia management company (Nasdaq: AFIB), announces its participation in upcoming investor conferences. On May 4, 2021, the management team will attend the Truist Securities 7th Annual Life Sciences Summit. Additionally, on May 13, 2021, they will present at the Bank of America Merrill Lynch 2021 Global Healthcare Conference at 10:15 a.m. Eastern Time. The presentation will be available via a live audio webcast, with a replay accessible for 90 days afterward. Acutus focuses on innovative solutions for cardiac arrhythmias.
Acutus Medical announced FDA clearance for the AcQCross™ family of universal transseptal crossing devices, targeting over 300,000 annual U.S. electrophysiology and structural heart procedures. This is the first system designed for seamless compatibility with both Acutus and other manufacturers' sheaths. The product aims to enhance procedural efficiency by eliminating wire and needle exchanges, simplifying transseptal crossing for atrial fibrillation and related procedures. The full U.S. commercial launch is set to begin shortly.
Acutus Medical (Nasdaq: AFIB) has commenced initial US enrollments for its AcQForce™ Flutter Investigational Device Exemption (IDE) clinical trial. The trial aims to include up to 150 subjects to assess the efficacy and safety of the AcQBlate FORCE sensing ablation catheter for treating Right Atrial Typical Flutter, expected to reach 200,000 procedures annually by 2025. The catheter, which offers real-time contact force data, is already CE Marked and commercially available in Europe. Acutus aims to enhance patient outcomes and operational efficiency in cardiac ablation procedures.
Acutus Medical, Inc. (Nasdaq: AFIB) announced that its management will present at the 20th Annual Needham Virtual Healthcare Conference on April 13, 2021, at 3:45 p.m. Eastern Time. This event underscores Acutus's commitment to enhancing the diagnosis and treatment of cardiac arrhythmias. A live audio-only webcast of the presentation will be available on their website, with a replay accessible for 90 days post-event. Acutus, established in 2011 and based in Carlsbad, California, focuses on innovative electrophysiology products and solutions.
Acutus Medical reported substantial financial growth for Q4 and the full year 2020, with revenues of $2.6 million and $8.5 million, respectively, compared to $0.7 million and $2.8 million in 2019. The installed base of AcQMap consoles increased to 58 units. However, the company experienced a net loss of $29.4 million for Q4 and $102.0 million for the full year. Moving forward, the revenue forecast for 2021 is between $22 million and $30 million, with an expected first quarter revenue of $2.6 million to $3.0 million, reflective of ongoing COVID-19 challenges.
Acutus Medical has appointed John Sheridan to its Board of Directors, effective March 17, 2021. Sheridan, the President and CEO of Tandem Diabetes Care, brings over 20 years of experience in the medical device sector. He has a proven track record of driving growth and value in medical technology companies.
His leadership is expected to bolster Acutus's mission in the electrophysiology market, focusing on innovative solutions for cardiac arrhythmias. Sheridan expressed enthusiasm about contributing to the company's growth during this critical period.
Acutus Medical, Inc. (Nasdaq: AFIB) announced a rescheduling of its fourth quarter 2020 earnings conference call due to an error by their filing agent, Donnelley Financial Solutions. The call will now take place on March 18, 2021, at 5 a.m. PT / 8 a.m. ET. The live call can be accessed via phone or a webcast. Acutus aims to enhance the diagnosis and treatment of cardiac arrhythmias and continues to focus on advancing electrophysiology technology.
Acutus Medical, Inc. (Nasdaq: AFIB) will announce its fourth quarter and full year 2020 financial results on March 18, 2021. Following the release, Acutus will host a conference call at 1:30 PM PT / 4:30 PM ET to discuss the results and recent developments. Interested parties can access the call via phone or a live webinar on the company’s investor relations website. Acutus specializes in arrhythmia management and aims to enhance cardiac arrhythmia diagnoses and treatments through innovative products and partnerships.
Acutus Medical (Nasdaq: AFIB) has secured an Innovative Technology contract from Vizient, Inc., aimed at enhancing the treatment of cardiac arrhythmias. The award follows a recommendation from healthcare experts based on the effectiveness of the AcQMap® 3D Imaging and Mapping System.
The system demonstrates a significant clinical impact, with 72.5% of patients being free from atrial fibrillation at 12 months post-ablation. The contract will facilitate easier access for electrophysiologists to incorporate this technology, promising improved patient outcomes.
Acutus Medical has appointed Duane Wilder as Chief Commercial Officer to drive its commercialization and market expansion efforts. With over 25 years of experience in medical technology, Wilder previously led US Sales for Philips’ Image Guided Therapy division. His track record in launching innovative products positions him to enhance Acutus' market efforts in the electrophysiology sector. CEO Vince Burgess emphasized Wilder's expertise as vital for challenging competitors and focusing on patient solutions in the fast-growing arrhythmia management market.
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