Possis Medical, Inc. (POSS-Nasdaq)
2005 Analyst Interview with:
Sharon di Stefano, Senior Healthcare Analyst, Sky Capital LLC
Business News, Financial News, Stocks, Money & Investment Ideas, CEO Interview
and Information on their
Thrombectomy System the AngioJet(R) for removing blood clots.

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Selling to a large market with a valuable technology and a competent management team, Possis Medical presents investors with a good opportunity at an undervalued price

Healthcare
Medical Equipment & Supplies
Analyst Interview Covering:
Possis Medical, Inc. (POSS-Nasdaq)
Phone: 763-780-4555

Sharon di Stefano
Senior Healthcare Analyst


Sky Capital LLC
Phone: 212-709-1958

Interview conducted by:
Walter Banks, Publisher
CEOCFOinterviews.com
July 28, 2005

BIO:
Sharon di Stefano
Sector: Health Care

Ms. di Stefano has 19 years of capital markets experience in the areas of institutional equity research, corporate finance, and financial advisory. Her financial career began as an account executive at Smith Barney, Harris Upham & Co. in 1986, and she entered equity research at the same firm in 1991 after several years serving high net worth clients at Shearson Lehman. As a Vice President at Josephthal & Co., Ms. di Stefano's stock recommendations in the medical technology sector earned her recognition as a Wall Street Journal All Star analyst in 1997 and 1998. While at Josephthal and, later, Ryan Beck & Co., she helped raise over $100 million, both publicly and privately, for emerging health care companies.

Ms. di Stefano's industry experience includes medical and laboratory research for Johns Hopkins Hospital and the Department of Defense, in addition to medical products consultation for private practice physicians.

Past speaking and consulting engagements include a presentation on blockbuster drugs for the Pharmaceutical Benefit Manager's Association (PBMA); the creation of a pharmaceutical pipeline database for Blue Cross of California; analysis of diagnostic and treatment trends in Hepatitis B for Synergy Pharmaceuticals; business valuation for Wasserstien Perella, prior to a spin-off of its LBO and venture funds; bankruptcy workout for FleetBoston Capital Corporation; valuation of a new 250-company 'fund of funds' for AON Corporation; and due diligence for privately-held Internet business services companies owned by Omnicom Group.

Ms. di Stefano received a Masters of Administrative Science degree, in Business, from Johns Hopkins University in 1986, and a Bachelor of Arts from the University of Delaware in 1984. She is a member of the New York Society of Security Analysts and the Association of Investment Management and Research (AIMR).

CEOCFO: Ms. di Stefano, can you tell us about the sector that you cover?
Ms. di Stefano: “I cover healthcare. I started covering medical devices in 1992 and since then have broadened into other sectors of healthcare. This allows me to follow companies in specialty pharmaceuticals, biotechnology, services, and healthcare information technology in addition to medical devices.”

CEOCFO: One of the companies that you cover is Possis Medical; how long have you been covering Possis?
Ms. di Stefano: “I introduced coverage of Possis on June 3rd of this year (2005), so about six weeks.”

CEOCFO: What are your impressions of them so far?
Ms. di Stefano: “Very positive. They had some trouble in the marketplace when their AiMI clinical trial did not show positive results for their primary product, AngioJet®. The AngioJet® is a minimally invasive catheter that removes old clots from clogged arteries. After the trial results, doctors sort of retrenched from purchasing the products. The sales force spent a long time contacting their doctor customers, explaining to them that just because the device failed in that particular clinical trial doesn’t mean its value is diminished. We think they’ve turned the corner, at least that’s what we’re projecting and I believe other analysts feel the same way. After that was accomplished, the focus again became selling the products. A new product was just approved so we think you’ll see more strength in their revenue line. Year end results will be out in the fall and that should be pretty telling.”

CEOCFO: Are you familiar with the new trial that they have initiated?
Ms. di Stefano: “The new trial involves use of the AngioJet® in direct stenting. The flaw in the AiMI trial was in treating patients where large thrombus, or blood clot, wasn’t visible – a screening issue that won’t be encountered in this trial. Doctors’ experience using the device in clinical practice is to treat large, visible thrombus. If the AiMI treatment arm was limited to that subset of clinical trial subjects we may have seen better results. What’s most exciting about this trial is that it is being led by Dr. Antonio Columbo, the originator of direct stenting.”

CEOCFO: What about their management?
Ms. di Stefano: “The management team is impressive. CEO Robert Dutcher has been with the company for many years and shows a high level of commitment. The new CFO, Jules Fisher, is forthright and helpful to the Street, and brings with him experience in both large and small healthcare companies. When we spoke to him recently there was real enthusiasm in his voice for the Possis’ business model, a comforting thing for an analyst to hear. Their head of sales has served for a number of large companies like C.R. Bard, especially fortunate for Possis because that experience will benefit them as they grow.”

CEOCFO: In closing, how would you sum up the technology, management and the marketplace for Possis Medical?
Ms. di Stefano: “The technology is valuable, members of management are healthcare industry veterans, and the markets, interventional cardiology and radiology, are two of the largest in the world. Possis has not been shown an abundance of investor attention, so we believe we have a good opportunity to pick up shares at an undervalued price.”


Disclosures:

No part of my compensation is or was based upon commissions generated
as a result of a research report on Possis.

No member of my household had a financial interest in the securities of Possis.

I have not received compensation from Possis in the past 12 months.

No member of my household is an officer, director or advisory board member of Possis.

Possis is not a client of Sky Capital LLC.

Sharon di Stefano
Senior Healthcare Analyst
Sky Capital LLC


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“The management team is impressive. CEO Robert Dutcher has been with the company for many years and shows a high level of commitment. The new CFO, Jules Fisher, is forthright and helpful to the Street, and brings with him experience in both large and small healthcare companies. When we spoke to him recently there was real enthusiasm in his voice for the Possis’ business model, a comforting thing for an analyst to hear.” - Sharon di Stefano, Senior Healthcare Analyst

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