CE Mark for MDT's Performa Lead - Analyst Blog
March 06 2013 - 5:00AM
Zacks
Medical Device major –
Medtronic (MDT) recently won European CE Mark
approval for its portfolio of Attain Performa Quadripolar leads.
Following the approval, European launch of the same has been made.
Medtronic remains optimistic about this new set of leads as,
according to the company, these are perfectly compatible with the
company’s newest portfolio of devices, Viva/Brava Quad cardiac
resynchronization therapy defibrillators (CRT-D), which
significantly improves response rate to therapy of the heart
failure patients.
As stated by Medtronic, combined
with Viva Quad CRT-Ds, Attain Performa leads can provide added
features leading to the possibility of therapy optimization based
on the individual needs of heart failure patients. In contrast to
the unipolar and bipolar leads, these leads consist of 4 electrodes
with 16 pacing configurations. Moreover, 3 distinct lead shapes are
found in this category of leads, which are Dual Cant, S-Shape and
Straight.
The Attain Performa Quadripolar
Lead study is a worldwide clinical trial based on data on Attain
Performa leads in patients indicated for a CRT-D. Enrollment
for this single-arm trial has begun across 140 centers globally.
These centers will enroll up to 1,210 patients who will receive
Attain Performa leads. Enrollments have already occurred in
Australia, Europe, South America and the U.S.
We are impressed with the company’s
efforts to augment/diversify its product range. We are optimistic
that over the long term, stability in the US implantable
cardioverter-defibrillator(ICD) market along with a
deep pipeline/portfolio that includes – CoreValve, Resolute
Integrity, Atrial Fibrillation (AF), renal denervation and
peripheral businesses – will be the driving factors for the company
going ahead.
However, we are still concerned
about Medtronic’s Pacing and Spine business, which continued to
remain sluggish, in turn affecting the company’s overall
performance. Moreover, headwinds such as unfavorable currency
movement and global economic uncertainties remain. However, the
company is enjoying market share gain on the back of the Resolute
Integrity DES for the treatment of coronary artery disease.
Moreover, the company is gradually
showing some signs of stability in the US Core Spine business.
Medtronic is trying every means to revive growth. This includes
penetrating the international markets, expansion of portfolio and
restructuring initiatives, which should benefit the company over
the long term.
Estimate revision trend for
Medtronic’s ongoing and next fiscal reflects a glaring lack of
clarity. Accordingly, the stock carries a Zacks Rank #3 (Hold).
While we have a non-committal stance on Medtronic, other medical
stocks carrying a favorable Zacks Rank are
Cyberonics (CYBX), Given Imaging
(GIVN) and Medical Action (MDCI). These stocks
carry a Zacks Rank #1 (Strong Buy).
CYBERONICS INC (CYBX): Free Stock Analysis Report
GIVEN IMAGING (GIVN): Free Stock Analysis Report
MEDICAL ACTION (MDCI): Free Stock Analysis Report
MEDTRONIC (MDT): Free Stock Analysis Report
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