Vasomedical delisted from Nasdaq

Vasomedical (Westbury, New York) reported receiving notification from Nasdaq that effective May 26, it was no longer listed on the Nasdaq Small Cap Market.

The company said it has enlisted the services of a Nasdaq member firm to file a Form 211 with the Over the Counter Bulletin Board and, pending approval, anticipates trading on the OTCBB under the symbol VASO.OB. The company's securities continue to be traded on the NASD Pink Sheets under the symbol VASO.PK. The company said it will file the appropriate financial documents and continue to announce its strategic and financial results via press releases and conference calls.

Vasomedical develops external counterpulsation (EECP) therapy a non-invasive, outpatient therapy for the treatment of diseases of the cardiovascular system currently indicated for use in cases of stable or unstable angina, congestive heart failure, acute myocardial infarction and cardiogenic shock. The therapy serves to increase circulation in areas of the heart with less than adequate blood supply and may restore systemic vascular function.

Cordis plans for California operations

Cordis (Miami Lakes, Florida) has reported plans to extend its current R&D operations by establishing an innovation center in the Bay Area of Northern California. It said that the center is expected to allow engineers and other researchers to strive for innovative new products quickly and efficiently within "state-of-the-art" facilities.

The company's newly appointed Chief Technology Officer Campbell Rogers, MD, will be responsible for the center and direct its strategic planning.

Rick Anderson, company group chairman, Johnson & Johnson, and worldwide franchise chairman, Cordis, said, “We are thrilled by the opportunities on the West Coast to extend our research and development capabilities under the leadership of Dr. Rogers . . . . The Silicon Valley is known worldwide as a hub of innovative ideas and engineering talent. This is the ideal place to advance our leadership position in the development of innovative products designed to treat the millions of patients with coronary artery and vascular diseases.”

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