IRVINE, Calif., June 30 /PRNewswire-FirstCall/ -- Endologix, Inc. (Nasdaq: ELGX), developer of minimally invasive treatments for aortic disorders, today announced that it has been added to the Russell 3000(R), Russell 2000(R) and Russell Global Indexes, effective June 26, 2009 after the close of the U.S. markets.
John McDermott, President and CEO, said, "We are pleased that Endologix is now included in the Russell Indexes, which has $4 trillion in assets currently benchmarked to them. The addition should increase the Company's exposure to potential institutional and retail investors as we continue to roll out our new products and increase our share of the abdominal aortic aneurysm market."
The annual reconstitution of Russell's U.S. indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. Membership in the Russell 3000, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000 Index or small-cap Russell 2000 Index as well as the appropriate growth and value style indexes. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes. The Russell 3000 also serves as the U.S. component to the Russell Global Index, which Russell launched in 2007.
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. An industry-leading $4 trillion in assets currently are benchmarked to them.
Endologix, Inc. develops and manufactures minimally invasive treatments for aortic disorders. The Company's flagship product is the Powerlink(R) System, which is an endovascular stent graft for the treatment of abdominal aortic aneurysms (AAA). AAA is a weakening of the wall of the aorta, the largest artery in the body, resulting in a balloon-like enlargement. Once AAA develops, it continues to enlarge and, if left untreated, becomes increasingly susceptible to rupture. The overall patient mortality rate for ruptured AAA is approximately 75%, making it a leading cause of death in the U.S. Additional information can be found on Endologix's Web site at www.endologix.com.
Except for historical information contained herein, this news release contains forward-looking statements with respect to the Company's exposure to potential institutional and retail investors the accuracy of which are necessarily subject to risks and uncertainties, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Endologix. The Company undertakes no obligation to update its forward looking statements. Please refer to the Company's Annual Report on Form 10-K for the year ended December 31, 2008, and the Company's other filings with the Securities and Exchange Commission, for more detailed information regarding factors that may cause actual results to differ materially from those expressed or implied.
COMPANY CONTACT: INVESTOR CONTACTS: Endologix, Inc. The Ruth Group John McDermott, CEO Nick Laudico (646) 536-7030 (949) 595-7200 Zack Kubow (646) 536-7020 www.endologix.com
|SOURCE Endologix, Inc.|
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