Penumbra’s (PEN) CEO Adam Elsesser Presents at Canaccord Genuity 37th Annual Growth Conference (Transcript)

Penumbra Inc (NYSE:PEN)

Canaccord Genuity 37th Annual Growth Conference

August 09, 2017 02:00 PM ET


Adam Elsesser – Chairman and Chief Executive Officer


Jason Mills – Canaccord Genuity

Jason Mills

Again my name is Jason Mills. I’m the Senior Medical Devices Analyst at Canaccord. Thank you again for coming and please look at the disclosures in your book for all the medical device companies. And we have a run of some of the most dynamic companies in Med Tech I have got on my coverage list. And our next guest, Adam Elsesser, he is the Chairman and Chief Executive Officer, of a company I have known for a long time, is one of the best performing Med Tech companies. Since they became public, which I think really now is almost two years ago. We also have from Penumbra, Sri Kosaraju, who is the Chief Financial Officer; and Daniel Wilson, who is the Head of Strategy and Corporate Development. I’m giving you all kinds of titles, so I’ll give you more. But a fantastic management team, they are all here for you today.

We have Adam up here and Adam thanks again for coming. It’s always good to chat about the market. You know how interested I am in your market. The one that gets the most attention is treating acute ischemic stroke, [classes of] patients go from either nearly dying or being incapacitated to perhaps being the same person they were before the stroke. But also you have leveraged technology to expand synergistically in the market, where you are also getting [called out] of the body in dangerous situations. Maybe we can start at a higher level, because I think, I get questions a lot of that which is, they have catheters they are seemingly selling well, but their philosophy seems to be one that anyone can copy. And so when is that going to happen because this growth is terrific.

Maybe talk about, as you started the company your philosophy? Maybe talk about your markets and what you do? Just give you the floor for this, your philosophy how it’s differed culturally, and in a lot of different ways from not only competitors in stroke and peripheral thrombectomy but in Med Tech in general?

Adam Elsesser

Sure. Well, that’s a big open kind of question. So let me attack it. Let me start with sort of stroke and our thoughts around it and then maybe I can touch a little on the larger questions about how we’ve structured the company and the culture around it. When we started the company, the idea of treating stroke was somewhat laughed at. People…

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