BNET Industries

Market Cap:$92.6M
Last Fiscal Year Sales:$48.3M
  • Public
  • US
Dow Jones Description

We are a medical device company and a leader in developing, manufacturing and selling innovative cardiac surgical ablation systems designed to create precise lesions, or scars, in cardiac, or heart, tissue. Our primary product line, which accounts for a majority of our revenues, is our AtriCure Isolator ® bipolar ablation system, or Isolator system. Our Isolator system consists primarily of a compact power generator known as an ablation and sensing unit, or ASU, a switchbox unit, or ASB, which allows physicians to toggle between multiple products and multiple configurations of our Isolator Synergy clamps. We sell two configurations of our clamps, one designed for ablation during open-heart, or open, procedures and one designed for ablation during sole-therapy minimally invasive procedures. We also sell a multifunctional pen which is often used by physicians in combination with our Isolator system to ablate cardiac tissue and for temporary pacing, sensing, stimulating and recording during the evaluation of cardiac arrhythmias. During 2008, we introduced our Coolrail linear ablation device which has been adopted by physicians to create an extended lesion set during minimally invasive procedures. Additionally, we sell various configurations of enabling devices, such as our Lumitip dissection tool. In August 2007, we acquired a cardiac cryoablation product line, which uses extreme cold to ablate tissue. ...

President, Chief Executive Officer and Director
David J. Drachman
Number of Employees 200
Contact Information

6033 Schumacher Park Dr

Cincinnati, Ohio 45069

atricure.com

1 513 755 4100

NAICS Code Surgical and Medical Instrument Manufacturing: 339112

Recent Events

  • AtriCure endures continued income losses for Q3

    11/08/09 - Financial Announcement - View Story

  • AtriCure Announces Tentative Settlement with the Department of Justice

    11/08/09 - Legal Settlement - View Story

  • AtriCure to Announce Third Quarter 2009 Financial Results

    10/16/09 - Financial Announcement - View Story

  • AtriCure narrows loss in 2Q

    8/04/09 - Financial Announcement - View Story

News & Analysis

atricure inc. and call transcript - All News and Analysis

Decision Makers

Name (plus bio) Position
David J. Drachman President, Chief Executive Officer and Director
Julie A. Piton CFO and Vice President of Finance
Michael D. Hooven Chief Technology Officer and Director
Thomas Etergino Vice President and Chief Financial Officer
Deborah L Morley Vice President Clinical Affairs
Elsa Chi Abruzzo Vice President
Frederick Preiss Vice President, Operations
James L. Lucky Vice President
Jonathon A Sherman Vice President, Product Development
Maureen Shaffer Vice President, Marketing
Richard S. Walsh Vice President
Salvatore Privitera Vice President, Product Development
Stephen S. Cambridge Vice President
Stew Strong Vice President, Sales, Eastern Division
Stewart W Strong Vice President, U.S. Sales
Terry Gaughan Vice President, Sales, Western Division
June M. Simmons Director, Finance
Mark Collar All Executive

Board of Directors

Name (plus bio) Position
Richard O. Martin Chairman of The Boards
Alan Kaganov Board Member
Donald C. Harrison Board Member
Elizabeth D Krell Board of Directors
Gene R. McGrevin Board of Directors
Karen P. Robards Board of Directors
Lee Wrubel Board of Directors
Mark R. Lanning Board of Directors
Norman R. Weldon Board of Directors

David J. Drachman has served as President, Chief Executive Officer and a director since October 2002. From 2000 to 2002, Mr. Drachman served as President and a director of Impulse Dynamics N.V., a development stage medical device company focusing on implantable electrical solutions for the treatment of heart failure, diabetes and eating disorders. From 1997 to 1999, Mr. Drachman served in a variety of positions, including Vice President of Strategic Development at Biosense Webster, Inc., a Johnson & Johnson, Inc. subsidiary that designs and manufactures diagnostic and therapeutic cardiac catheters. In addition, Mr. Drachman has also served in a variety of positions at Ventritex, Inc. and Boston Scientific Corporation. Mr. Drachman received his B.A. from the University of Louisville and holds North American Society of Pacing and Electrophysiology certification in Electrophysiology, Cardiac Pacing and Defibrillation.

Organization Position Status
AtriCure, Inc. President, Chief Executive Officer and Director Current
Lighthouse Capital Partners, Inc. Current
AtriCure, Inc. Board of Directors Current
Johnson & Johnson Vice President of Strategic Development Former
Biosense Webster, Inc. Vice President of Strategic Development Former
University of Louisville B.A. Former

Organization Position Status
AtriCure, Inc. CFO and Vice President of Finance Current
School Specialty, Inc. Former
Schneider National, Inc. Former
Sensient Technologies Corporation Former

Organization Position Status
AtriCure, Inc. Chief Technology Officer and Director Current
AtriCure, Inc. Founder Current
Minimally Invasive Devices, LLC. Board of Directors Current
AtriCure, Inc. Board of Directors Current
Omeris, Inc Director Current
AtriCure, Inc. CEO Former
Enable Inc. Chief Executive Officer Former
Enable Inc. President Former
Ethicon Endo-Surgery, Inc. Director of New Product Development Former
Cordis Corporation Former
AtriCure, Inc. Chairman Former
University of Michigan M.S. Former
University of Michigan B.S. Former

Organization Position Status
Emusic.com, Inc. Cfo Current
Nextsource, Inc Cfo, Emusic.Com Current
AtriCure, Inc. Vice President and Chief Financial Officer Current
Nextsource, Inc Board of Directors Current
LSSI Corp. Cfo Former
Washington and Lee University BS In Business Administration and Accounting Former

Deborah L. Morley, Ph.D. has served as Vice President, Clinical Affairs since May 2008. From 2004 to 2008, Dr. Morley served as Vice President of Clinical and Regulatory Affairs for CircuLite, Inc., a development stage medical device company focused on the development of a heart assist device. From 1996 to 2004, she was Vice President of Clinical Affairs for MicroMed Technology, Inc., a development stage medical device company focused on the development of a heart assist device. Dr. Morley also worked for the Novacor division of Baxter Healthcare as Senior Clinical Scientist and Manager, Clinical Affairs from 2004 to 2006 in various roles. Dr. Morley served on the faculty of Temple and Hahnemann Universities in Philadelphia, Pennsylvania. Dr. Morley received her Ph.D. in Medical Physiology from the Bowman Gray School of Medicine of Wake Forest University.

Organization Position Status
AtriCure, Inc. Vice President Clinical Affairs Current
Micromed Technology, Inc. Vice President of Clinical Affairs Former
Wake Forest University School of Medicine PH.D. In Medical Physiology Former

Elsa Chi Abruzzo has served as our Vice President; Regulatory and Clinical Affairs since February 2004. From 2002 to 2004, Ms. Abruzzo served as Senior Director, Regulatory and Clinical Affairs of Percutaneous Valve Technologies, Inc., a medical device manufacturer. From 1997 to 2002, Ms. Abruzzo served as Director of Regulatory Affairs and Manager of Regulatory Affairs of CryoLife, Inc., a publicly-held developer of implantable medical devices. Prior thereto, Ms. Abruzzo held a number of increasingly responsible positions in manufacturing engineering, quality assurance, clinical research and regulatory affairs at various medical device companies, including Baxter International, Inc., Cordis Corporation and Cordis Endovascular (a subsidiary of Johnson & Johnson). Ms. Abruzzo received her B.S. from the University of Miami and is a Regulatory Affairs Certified Professional.

Organization Position Status
AtriCure, Inc. Vice President Current
Regulatory Affairs Director of Regulatory Affairs Former
Regulatory Affairs Manager Former
Cordis Corporation Former
Baxter International Inc. Former
University of Miami B.S. Former

Frederick Preiss has served as our Vice President, Operations since May 2005. From 2002 to 2005, Mr. Preiss served as Vice President of Operations, OEM of Teleflex Medical, a medical device manufacturer and subsidiary of Teleflex, Inc., a publicly-held designer and manufacturer of specialty engineered devices for various industries. From 1998 to 2002, Mr. Preiss served as Vice President of Operations of Regeneration Technologies, a tissue-based biotechnology company. Prior thereto, from 1971 to 1998, Mr. Preiss held a number of responsible positions relating to operations, manufacturing, engineering and purchasing at various companies, including Wright Medical Technology, United States Surgical Corporation and Cyromedics Inc. Mr. Preiss received his B.S. from the University of New Haven.

Organization Position Status
AtriCure, Inc. Vice President, Operations Current
RTI Biologics, Inc. Vice President of Operations Former
United States Surgical Corporation Former
Wright Medical Group, Inc. Former
University of New Haven B.S. Former

James L. Lucky has served as our Vice President, Regulatory Affairs and Quality Assurance since February 2008, having previously served as our Vice President, Quality Assurance and Healthcare Compliance since January 2004. From 1997 to 2004, Mr. Lucky served as Vice President of Quality Assurance and Regulatory Affairs for the medical segment of Teleflex, Inc., a publicly-held designer and manufacturer of specialty engineered devices for various industries. Prior to that position, Mr. Lucky held a number of quality assurance positions in the medical device industry, including at Ethicon Endo-Surgery, Inc., Bristol-Myers Squibb Company and Parker Hannifin Corp. Mr. Lucky received his B.S. from Western Michigan University, his M.S. from North Carolina State University and his Masters in Business Administration from Duke University.

Organization Position Status
AtriCure, Inc. Vice President Current
Teleflex Incorporated Vice President of Quality Assurance Former
Bristol-Myers Squibb Company Former
Parker Hannifin Corporation Former
Duke University M.B.A. Former
North Carolina State University M.S. Former
Western Michigan University B.S. Former

Organization Position Status
AtriCure, Inc. Vice President, Product Development Current
Enable Inc. Vice President of Engineering Former
University of Toledo B.S. Former

Organization Position Status
AtriCure, Inc. Vice President, Marketing Current

Richard S. Walsh has served as our Vice President; Sales since July 2004. From 2003 to 2004, Mr. Walsh served as Vice President of Sales for Stereotaxis, Inc., an emerging technology medical device company. From 1999 to 2003 he served as Director of Sales for Intuitive Surgical, Inc., a medical robotics company. Mr. Walsh has over 15 years of emerging medical device sales experience combined with eight years of military officer experience in the United States Army and the Army National Guard. Mr. Walsh received his B.S. from Embry Riddle Aeronautical University.

Organization Position Status
AtriCure, Inc. Vice President Current
Stereotaxis, Inc. Vice President of Sales Former
Intuitive Surgical, Inc. Director of Sales Former
Embry-Riddle Aeronautical University Bachelor of Science Former

Salvatore Privitera has served as our Vice President, Product Development since October 2003, and previously served in the same capacity from 2000 to 2001. From 2001 to 2003, Mr. Privitera served as Director of Product Development for Ethicon Endo-Surgery, a developer and manufacturer of minimally invasive surgical instruments. Mr. Privitera has 15 years of medical product development experience and has been associated with the release of over 30 medical devices in the fields of cardiac surgery, laparoscopic general surgery, breast biopsy, and sedation. He is a named inventor on over 20 issued and filed U.S. patents. Mr. Privitera received his B.S. from the University of Buffalo and his M.B.A. from Xavier University.

Organization Position Status
AtriCure, Inc. Vice President, Product Development Current
Xavier University M.B.A. Former
State University of New York at Buffalo B.S. Former

Organization Position Status
AtriCure, Inc. Vice President Current
Indiana University Master of Science In Science Education Former
Indiana University B.A. In Biological Science Former

Stewart W. Strong has served as our Vice President, United States Sales since June 2007, having previously served as Vice President, Eastern United States Sales, Northeast Area Sales Director and Regional Sales Manager since joining AtriCure in October 2003. Mr. Strong has over 10 years of cardiac and general surgery sales experience. Prior to joining AtriCure, Mr. Strong held sales positions with the Heart Valve Division of Medtronic, Inc. and Johnson and Johnson’s Ethicon Endo-Surgery division. Mr. Strong received his B.A. from the University of Connecticut.

Organization Position Status
AtriCure, Inc. Vice President, Sales, Eastern Division Current

Organization Position Status
AtriCure, Inc. Vice President, U.S. Sales Current
University of Connecticut B.A. Former

Organization Position Status
AtriCure, Inc. Vice President, Sales, Western Division Current

Organization Position Status
AtriCure, Inc. Director, Finance Current
Ctc-Parker Account Supervisor Former

Mark is a venture partner of Triathlon Medical Ventures in Cincinnati, which he joined in 2008 after retiring as president of Global Pharmaceuticals and Personal Health at Procter & Gamble. Mark brings 15 years of broad-spectrum expertise in the pharmaceutical business from discovery and development through launch and sales as well as an invaluable network of industry relationships. No stranger to the venture capital world, Mark was appointed by the governor and currently is chairman of the Third Frontier Advisory Board, which provides direction for Ohio's $1.6 billion economic development investment fund, and also is vice chairman of BioOhio, the state's life science economic development organization. He sits on the board of directors of Ohio-based AtriCure, Inc., is a Trustee and, Member, Executive Committee, of the Health Alliance of Greater Cincinnati, and was appointed by the U.S. Secretary of Health and Human Services to advise the director of the Centers for Disease Control and Prevention. In addition, Mark serves on the research committee of the board of trustees for Cincinnati Children's Hospital. He is a Wisconsin native, and received his Bachelor's degree from Northern Illinois University.

Organization Position Status
Triathlon Medical Ventures Venture Partner Current
AtriCure, Inc. All Executive Current
First Financial Bancorp Director Current
AtriCure, Inc. Board of Directors Current
Global Pharmaceuticals President Former
Ohio.Com Chairman Former

Dr. Martin has served as a Director since July 1997. From 1998 until 2001, Dr. Martin served as President of Medtronic Physio-Control Corporation, a medical device company that designs, manufactures and sells external defibrillators and heart monitors. Prior to its acquisition by Medtronic in 1998, Dr. Martin was Chairman and Chief Executive Officer of Physio-Control Corporation. Prior to that, he was Vice President of cardiovascular business development with Sulzer Medica and has held management positions at Intermedics, Inc. and Medtronic, Inc. Dr. Martin serves on the Boards of Directors of Endographic Solutions, Inc., Cardiac Dimensions, Inc., Encore Medical Corp., Inovise Medical Inc., MDdatacor Inc. and Prescient Medical, Inc. Dr. Martin earned a bachelor s degree in electrical engineering from Christian Brothers College, a Master s degree in Electrical Engineering from Notre Dame University and a Doctorate in Electrical/Biomedical Engineering from Duke University.

Organization Position Status
Cardio Dynamics International Corporation Chairman Current
Aea National Chairman Current
Pet Drx Corporation Chair Current
Picis, Inc. Chairman of The Boards Current
AtriCure, Inc. Chairman of The Boards Current
Pet Drx Corporation Board of Directors Current
Mddatacor, Inc. Board of Directors Current
SonoSite, Inc. Board of Directors Current
Prescient Medical, Inc Director Current
Echo Healthcare Acquisition Corp. Director Current
Lstat Board of Directors Current
Cardio Dynamics International Corporation Board of Directors Current
Inovise Medical, Inc Board of Directors Current
Medivance, Inc. Director Current
Cardiac Dimensions, Inc. Board of Directors Current
Bioz Board of Directors Current
Liposcience, Inc. Director Current
Physio-Control Chief Executive Officer Former
Physio Ltd President Former
Positron Corporation President Former
Positron Corporation Chief Operating Officer Former
Sulzer Medica Vice President, Cardiovascular Business Development Former
Medtronic, Inc. Former
West Penn Allegheny Health System Chairman of The Board Former
Physio-Control Chairman Former
American Heart Association, Inc. Chairman Former
American Electronics Association Chairman Former
Western Pennsylvania Hospital Chairman of The Boards Former
Reable Therapeutics, Inc. Board of Directors Former
American Heart Association, Inc. Board of Directors Former
Positron Corporation Director Former
Duke University Ph.D. In Electrical Engineering Former
University of Notre Dame Msee Former

Organization Position Status
Aptus Endosystems Inc. Chairman & Co-Founder Current
U.S. Venture Partners (USVP) partner Current
U.S. Venture Partners Partner Current
Pratt School of Engineering at Duke University Board of Visitors Current
Sanarus Medical, Inc. Board Member Current
AtriCure, Inc. Board Member Current
Aptus Endosystems Inc. Board of Directors Current
Visitors Board of Directors Current
Aptus Endosystems Inc. Chief Executive Officer Former
Boston Scientific Corporation Vice President of New Business Development Former
New York University M.S. Former
Duke University B.S. in Mechanical Engineering Former
Pratt School of Engineering at Duke University B.S. in Mechanical Engineering Former
Columbia University Sc.D. in Biomedical Engineering Former

Organization Position Status
Charter Life Sciences Managing Director Current
Charter Life Sciences Managing Partner Current
Banc of America Capital Investors Partner Current
Bowling-Pfizer Settlement Funds Current
EnteroMedics, Inc. Board of Directors Current
Kendle International Inc. Board Member Current
AtriCure, Inc. Board Member Current
Banc of America Securities LLC Board of Directors Current
American Heart Association, Inc. President Former
Stanford University School of Medicine chief of the department of cardiology Former
Venturi Group, LLC Founder Former
Start Corporation Founder Former
AtriCure, Inc. Founder Former
Chemical Banking Corporation client manager Former
Boston Scientific Corporation member of the Strategic Advisory Panel Former
Procter & Gamble Cardiology Advisory Panel member Former
Harvard University research scientist Former
American College of Cardiology trustee Former
Banc of America Securities LLC Team Member Former
American Journal of Cardiology Editorial Board Member Former
Hewlett-Packard Company chairman of the Advisory Science Board Former
SCIMED Board Member Former
American College of Cardiology Board of Directors Former
Enable Inc. Director Former
Birmingham-Southern College honorary Doctor of Law Former
University of Alabama School of Medicine M.D. Former
Ohio University M.B.A. Former
Ohio University B.B.A. Former
Birmingham-Southern College B.A. in chemistry Former

Organization Position Status
AtriCure, Inc. Board of Directors Current
Advanced Medical Technology Association Executive Vice President for Technology and Regulatory Affairs Former
Radiological Health Deputy Director Former
Devices Limited Deputy Director Former

Organization Position Status
AtriCure, Inc. Board of Directors Current

Organization Position Status
Enable Inc. Director Current
AtriCure, Inc. Board of Directors Current
Smith College B.A. Former

Dr. Lee R. Wrubel, General Partner, Foundation Medical Partners, has over ten years of experience in venture capital and has been associated with a large number of private companies, including such now publicly traded companies as Pozen Pharmaceuticals, OraPharma, and GenVec. Prior to starting Foundation Medical Partners, Dr. Wrubel was an investment professional with Canaan Partners and more recently Highland Capital Partners, where he specialized in biotechnology and medical device investments. Dr. Wrubel serves on the board of directors of EndoGastric Solutions, Inc., CardioMEMS, Inc. and Vascular Architects, Inc. Dr. Wrubel began his business career as a consultant at The Wilkerson Group, a health care-focused management consulting company. Dr. Wrubel completed a pediatric internship at Mount Sinai Medical Center in New York. He holds an A.B. from Lafayette College, an M.D. and Masters in Public Health from Tufts University, and an M.B.A. from Columbia University. Dr. Wrubel serves on the Translational Research Advisory Committee of the Muscular Dystrophy Association, and is a member of the Health Leadership Council of Save The Children.

Organization Position Status
Youngstartup Ventures, Inc. General Partner, Foundation Medical Partners Current
Orapharma, Inc. Current
GenVec, Inc. Current
Vascular Architects, Inc. Board of Directors Current
EndoGastric Solutions, Inc. Board of Directors Current
AtriCure, Inc. Board of Directors Current
Cardiomems, Inc. Board of Directors Current
Histogenics Board of Directors Current
CombinatoRx, Incorporated Board Member Current
Foundation Medical Partners L.P. General Partner Former
The Wilkerson Group Consultant Former
Highland Capital Partners, Inc. Investment Professional Former
Mount Sinai Medical Center Internship Former
Canaan Partners Investor Former
Highland Capital Partners, Inc. Investor Former
Tufts University M.D. Former
Columbia Business School M.D. Former
Tufts University School of Medicine M.D. Former
Columbia University M.D. Former
Lafayette College A.B. Former

Mark R. Lanning, C.P.A. Mr. Lanning, 54, has served as one of our directors since February 2006. Mr. Lanning currently serves as Vice President, Investor Relations and Treasurer of Hillenbrand, Inc., a leader in the funeral services industry. Prior to joining Hillenbrand in 1988, Mr. Lanning spent twelve years in various accounting positions with Ernst & Whinney (now Ernst & Young). Mr. Lanning, a Certified Public Accountant, also currently serves as Chairman and a member of the Board of Directors of the Indiana CPA Society. Mr. Lanning received his B.S. in Accounting from Ball State University.

Organization Position Status
Hillenbrand, Inc. Vice President, Investor Relations Current
AtriCure, Inc. Board of Directors Current
Hillenbrand, Inc. Treasurer Current
Ernst & Whinney Former

Dr. Weldon is Managing Director of Partisan Management Group, Inc., an early stage venture capital company that assists with the funding and management of medical device startups. He is also on the Board of two medical device companies he co-founded. Dr. Weldon received his BS in Biochemistry in 1956, MS in Industrial Management in 1962, and PhD in Economics in 1964, all from Purdue University. He has been the CEO of three public companies: CTS Corporation, Cordis Corporation (which was purchased by Johnson and Johnson as the basis for its cardiovascular division) and Corvita Corporation. He was a co-founder of CTS Microelectronics, Inc., Corvita Corporation, Novoste Puerto Rico, Inc., Novoste Corporation and Enable Medical Corporation and he is a director of two mutual funds: New Economy Fund and SmallCap World Fund.

Organization Position Status
Careguide Kit Dr. Weldon Is Managing Director of Partisan Management Group Current
Partisan Management Group Inc Managing Director Current
AtriCure, Inc. Board of Directors Current
Ash Access Technology, Inc Board of Directors Current
Hemocleanse Inc Board of Directors Current
Careguide Kit Board of Directors Current
CTS Corporation CEO Former
Cordis Corporation CEO Former
Novoste Corporation Co-Founder Former
Enable Inc. Director Former
Renal Solutions, Inc. Director Former
Novoste Corporation Director Former
Purdue University Ph.D. Former
Purdue University M.S. Former
Purdue University B.S. Former
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     ATRC $6.05 +0.06 (1.00% )
Average Volume 36,142
Shares Outstanding 15.31M
Market Cap 92.6M
Year High 6.11
Year Low 1
Earnings Per Share -1.21
P/E Ratio -5.00
Dividend N/A
Yield N/A
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