VNUS Medical Technologies, founded in 1995, is a public company and markets the proprietary VNUS Closure System of products for patients who suffer from symptoms associated with venous reflux. The Closure system provides an alternative to painful vein stripping surgery or laser vein ablation by employing a disposable radiofrequency catheter that controllably heats and closes diseased veins in a procedure that can be as short as 30 minutes or less. Our products were first used in Europe beginning in 1998 and cleared for marketing in the U.S. in March 1999. Since then, over 500,000 patients worldwide have received the Closure procedure and numerous studies have shown the Closure procedure provides substantial benefits to eligible patients with venous disease. The Closure procedure is commonly performed in either a doctor's office or as an out-patient procedure and is covered by health insurance in the United States and in several countries in Europe.