Exhibit 23.1


                        Consent of Independent Auditors'




The Board of Directors
The Spectranetics Corporation:



We consent to incorporation by reference in the registration  statements on Form
S-8 (Nos. 33-46725, 33-52718, 33-88088, 33-85198, 33-99406 and 333-08489) and on
Form S-3 (Nos. 333-06971 and 333-69829) of The Spectranetics  Corporation of our
reports  dated  January 29, 1999,  except as to Note 14, which is as of February
25,  1999,  relating to the  consolidated  balance  sheets of The  Spectranetics
Corporation  and  subsidiaries as of December 31, 1998 and 1997, and the related
consolidated  statements of operations,  shareholders' equity and cash flows for
each of the years in the  three-year  period ended  December  31, 1998,  and the
related consolidated  financial statement schedule,  which reports appear in the
December 31, 1998 Annual Report on Form 10-K of The Spectranetics Corporation.



                                             KPMG LLP

Denver, Colorado
March 25, 1999