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ATS Medical Expects Second Quarter Revenue of $16.7 to $16.9 Million
Date:7/7/2008

al of our ATS 3f(R) Aortic Bioprosthesis tissue valve, we have focused our commercial activities in a few select international markets. In the second quarter, these commercial efforts began to gain traction and we expect second quarter tissue valve revenue to increase approximately 90% compared to the first quarter of 2008. We continue to experience positive reception of our new ATS Open Pivot(R) AP360(TM) mechanical valve in the United States as evidenced by our third consecutive quarter of growth. We now expect a modest year-over-year increase in US mechanical valve revenue during the second quarter, the first such increase in five quarters. We believe that this quarter's results reflect our execution and the market's acceptance of our new product offerings across all segments," continued Mr. Dale.

"We also made significant progress recently in strengthening the Company's financial resources. We announced last week that Alta Partners had exercised its warrant for 1,960,000 shares of our common stock, generating $3.2 million in proceeds for the Company. In addition, we entered into a Subordinated Credit Agreement with Theodore C. Skokos, a member of our Board of Directors, for a two-year $5 million revolving line of credit. We continue to believe we do not need to raise additional capital to execute on our current growth plans," concluded Mr. Dale.

About ATS Medical

ATS Medical, Inc. provides innovative products and services focused on cardiac surgery. The Company, global in scope, is headquartered in Minneapolis, Minnesota. More than 150,000 ATS Open Pivot(R) Heart Valves, which utilize a unique pivot design resulting in exceptional performance and low risk profile, have been implanted in patients worldwide. The ATS 3f(R) brand encompasses multiple tissue heart valve product offerings at varying steps from market introductions to clinical trials to development projects that incorporate less invasive valve replacement technology. ATS Medical's
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SOURCE ATS Medical, Inc.
Copyright©2008 PR Newswire.
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