Shares in this tiny ASX-listed medical device company are going nuts

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Shares in Osprey Medical soared after record sales of its devices to protect patients from the harmful effects of X-ray dye.

A short time ago, the shares were up almost 32% to 29 cents.

Sales of the AVERT and DyeVert systems were up 45% in the second quarter of 2016.

The pilot sales territory in San Antonio, Texas, was cash-flow breakeven in June with 65% of local hospitals buying from Osprey. The average selling price of DyeVert is $US355.

“Osprey has now recorded seven consecutive quarters of growth in units sold and samples, reflecting a strong endorsement from the cardiovascular physician community of Osprey’s dye reduction technologies,” says CEO Mike McCormick.

The technology reduces the amount of X-ray contrast dye injected into patients, protecting the kidneys. Heart and leg vessels imagining requires the injection of x-ray dye which is then cleared by the kidney.

Osprey has its operations in Minnesota.

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