On the Line: Hansen Medical CEO Dr. Fred Moll
Cramer recommended a little medical devices company called Hansen back when it was trading at $16. It went up a quick couple bucks on approval of one of its products and Cramer then told viewers to sell.
Since then, Hansen has seen a nice run, and Cramer is willing to revisit it after catching some flack for recommending it as a trade and not a long-term buy.
Hansen Medical’s CEO, Dr. Fred Moll, told Cramer about the new market Hansen is entering with robotic catheters – a market he called “extraordinary.” Hansen has developed and is now selling the Sensei catheter system, recently ranked first on the Cleveland Clinic’s list of innovations for 2008 that are likely to influence the most patients.
The catheters are used on patients with heart disorders, but the technology platform is so expansive that all that has to be done is an adjustment of the instrument’s size and it can be used for coronary artery and other arterial vascular diseases, Moll said. The devices essentially allow doctors and surgeons to perform cardiac surgery “from the inside out.” Moll said this new market will be a “big deal” and Hansen is uniquely positioned to profit.
Cramer got greedy and recommended taking the trade in Hansen when staying long would have made investors more money. The company’s pioneering position within this new, potentially lucrative market of robotic catheters has forced Cramer to stand corrected. Wait for a bit of a pullback, and “buy, buy, buy,” he said.
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