In a statement, Reva CEO Reggie Groves cited current market conditions as the primary reason for the staffing reduction.
“While we continue to see strong interest in Fantom Encore and are excited about our potential with Motiv, the near-term outlook remains tempered by the current European Society of Cardiology Guidelines for the use of bioresorbable scaffolds in treating coronary artery disease. This reduction ensures that we are managing our expenses prudently while ensuring our ability to continue to serve our customers,” Groves added.
The company’s Fantom Encore and Motiv bioresorbable scaffolds are designed to treat coronary artery disease and below-the-knee peripheral artery disease, respectively.
At DeviceTalks Boston, Tyler Shultz will give attendees an inside look at Theranos and how he was able to sound the alarm after he realized the company was falling apart. Shultz will take attendees behind the story that everyone is talking about: the rise and fall of Elizabeth Holmes and her diagnostic company, Theranos.
Join Shultz and 1,000+ medical device professionals at the 8th annual DeviceTalks Boston.