Luther Medical Banking on Its Newest Catheter

Luther Medical Products Inc., which makes catheter and neuro-diagnostic products, said Wednesday that the Food and Drug Administration has approved its newest device. The catheter, designed to replace others now on the market, is made of a new polyurethane material that changes texture inside the body to minimize vein damage and discomfort.

“This is the pot of gold for us,” said company Chairman Ron Luther, who started the business in 1980. He said the product, called “Onecath,” will go on sale in 45 days, he said.

Investors apparently didn’t see the pot. The company’s stock, which has taken a beating in the past year, fell 12 1/2 cents a share Wednesday to close at $3.125 in Nasdaq trading.