Last $2.30 USD
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As of 8:10 PM 10/20/14 All times are local (Market data is delayed by at least 15 minutes).

vycor medical inc (VYCO) Snapshot

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07/10/14 - $3.12
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vycor medical inc (VYCO) Details

Vycor Medical Inc. designs, develops, and markets neurological medical devices and therapies in the United States and internationally. The company also provides neuro-stimulation therapies and diagnostic devices for the treatment and screening of vision field loss resulting from neurological damage. It operates in two segments, Vycor Medical and NovaVision. The Vycor Medical segment provides devices for neurosurgery comprising ViewSite Brain Access System, a clear cylindrical disposable set of single-use devices, which neurosurgeons use to provide a surgical corridor to access and remove target sites within the brain, such as tumors. The NovaVision segment offers various therapies, such as Vision Restoration Therapy and Neuro-Eye Therapy for lost vision restoration and to address other neurologically-induced vision issues. This segment also provides NeuroEyeCoach, an Internet-delivered saccadic training program that re-trains the ability of a patient to move their eyes, and re-integrate left and right vision. The company primarily serves patients, hospitals, and medical professionals. Vycor Medical, Inc. sells its products directly to hospitals through independent representatives, as well as through various distributors. The company was founded in 2005 and is headquartered in Boca Raton, Florida.

17 Employees
Last Reported Date: 08/12/14
Founded in 2005

vycor medical inc (VYCO) Top Compensated Officers

President and Director
Total Annual Compensation: --
Compensation as of Fiscal Year 2013.

vycor medical inc (VYCO) Key Developments

Vycor Medical, Inc. Continues to Execute on its Stated Strategic Goal of Expanding Internationally

Vycor Medical Inc. announced that it had made significant in-roads into a number of key international markets. Most recently it has entered into a distribution agreement with Eurotech, and secured its first order. In addition to Russia, Vycor has identified and started to work with neurosurgical distributors in the following markets: Brazil, France, South Africa, Sri Lanka and Taiwan. In each of these markets, Vycor has entered into either evaluation or distribution agreements and is now going through local regulatory approvals. Including these countries, Vycor now has international agreements in place for VBAS in Australia, Belgium, Brazil, Canada, China, France, Germany, Greece, Holland, Hong Kong, Italy, Japan, Korea, Russia, South Africa, Spain, Sri Lanka, Sweden, Taiwan and the UK.

Vycor Medical Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Vycor Medical Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported revenue of $298,540 against $234,954 a year ago. Operating loss was $703,608 against $609,612 a year ago. Net loss was $1,272,825 against $656,551 a year ago. Basic and diluted loss per share was $0.12 against $0.10 a year ago. Non-GAAP operating loss was $416,755 against $465,056 a year ago. Basic and diluted Non-GAAP loss per share was $0.04 against $0.08 a year ago. For the six months, the company reported revenue of $656,662 against $466,628 a year ago. Operating loss was $1,696,146 against $1,209,234 a year ago. Net loss was $2,060,202 against $1,299,066 a year ago. Basic and diluted loss per share was $0.21 against $0.21 a year ago. Non-GAAP operating loss was $737,483 against $917,936 a year ago. Basic and diluted Non-GAAP loss per share was $0.08 against $0.17 a year ago.

Vycor Medical, Inc. Successfully Completes Development of New Prototypes of its ViewSite(TM) Brain Access System Device

Vycor Medical Inc. announced that it had successfully completed the development of new prototypes of its ViewSite(TM) Brain Access System (VBAS) device that will be fully compatible with selected image-guided systems. The device has been specifically designed to house the pointer utilized in image-guided systems. The pointer will be firmly held in place in the introducer through a novel approach while the working channel will remain unchanged. The Company will now commence the testing of these devices. Initially the Company plans on manufacturing four new devices targeted at this market, this development being spurred by strong neurosurgeon demand. VBAS is currently approved in over 170 hospitals in the U.S. and more than 6,500 surgeries have been performed worldwide utilizing VBAS. VBAS is a suite of clear cylindrical disposable devices used to access target sites such as tumors within the brain, which provides a working channel during neurosurgery for their removal. The devices are being used in brain surgeries in the US and internationally. The company is ISO 13485:2003 compliant, has U.S. FDA 510(k) clearance for brain and spine surgeries and full regulatory approvals for brain in Australia, Canada, China, Europe (EU - Class III), and Japan and is seeking or has partial regulatory approvals in Brazil, India, Korea, Russia, Taiwan and Vietnam. The VBAS system provides a minimally invasive approach into the brain, offering clinical advantages that have been validated in various peer-reviewed articles and have enabled previously inoperable procedures to take place, thereby saving and changing lives. Additional studies are anticipated in the near future further supporting the products clinical benefits. Advantages of the innovative Vycor VBAS over the long-established standard of care device, the 'blade retractor,' include: Provision of a minimally invasive approach into the brain which results in reduced 'white matter' damage to the surrounding tissue and is likely to lead to improved surgical outcomes for patients; Improved visibility for the surgeon due to the VBAS transparent tubular form; Stable working channel and more accurate target access; Reported to result in reduced surgical time which results in lower total costs of procedures; and has been reported to have been used in procedures that were otherwise considered to have been inoperable using existing standard retractors.


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