Hansen Medical, Inc. (NASDAQ:HNSN)

CAPS Rating: 2 out of 5

The Company develops and manufactures a new generation of medical robotics designed for accurate positioning, manipulation and stable control of catheters and catheter-based technologies.

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3
Player Avatar Bromidiom (< 20) Submitted: 7/30/2009 9:51:36 AM : Underperform Start Price: $3.77 HNSN Score: +186.10

> The Sensei is a dangerous piece of equipment for patients, leading to 17-19% complication rates.

> Dr. Fred Moll has lost all credibility after promising "slam dunk" guidance of 53-60 systems in 2009, after only delivering 3 in Q2 (conveniently after they pushed a secondary in April, have you.)

> Hansen's gross margins have eroded to close to 0% as ASPs have collapsed due to the lack of a value proposition.

> Hansen needs to completely restructure and reengineer its product for use in electrophysiology to be adopted clinically. A 17F sheath is too big for the vasculature, in particular, the femoral artery.

> Hansen has suffered the loss of talent, with spontaneous resignations from the President and COO, Gary Restani, to members of the board and key engineering talent.

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