STJ ST. Jude Medical, Inc.

Medical devices major St. Jude Medical (STJ) has commenced the rollout of its Epiducer lead delivery system in Australia. This unique system has been designed for neurostimulation (stimulation of the spinal cord by electrical impulses) therapy for managing chronic pain.

The Minnesota-based company recently demonstrated the Epiducer system at the International Neuromodulation Society 10th World Congress in London.

The Epiducer system has been geared to reduce procedural complexities and improve efficiency in placing neurostimulation leads used in spinal cord stimulation (“SCS”) therapy for the management of chronic pain. This first-of-its-kind system enables physicians to place multiple neurostimulation leads through a single incision, allowing them to perform simpler, less invasive procedures. Previously, the placement of multiple leads required several small incisions. 

Chronic pain is a debilitating condition that affects roughly 50 million people in the U.S. The annual cost associated with this condition has been estimated at $100 billion. Chronic pain, which is long lasting or recurring, is common in several back and spine conditions and is often misdiagnosed. Poor prognosis of chronic back/spinal pain typically leads to treatment failure.   

SCS, an implantable neurostimulation therapy, has a proven track record in providing pain relief to patients and is primarily used for chronic pain management when physical and/or drug therapies are ineffective. Mild electrical impulses are delivered to the spinal cord that interrupts pain signal transmission to the brain, thereby offering relief.

St. Jude’s Neuromodulation division, which was formed through its acquisition of Advanced Neuromodulation Systems in November 2005, offers various neurostimulation systems. The company is one of the three major manufacturers of neurostimulation devices along with Medtronic (MDT) and Boston Scientific (BSX). More than 75,000 patients across 40 countries have been implanted with St. Jude’s neurostimulation devices.

The Epiducer system is the latest addition to St. Jude’s neurostimulation product portfolio which includes the Eon Mini SCS system, the world’s smallest, longest-lasting rechargeable neurostimulator.

The neurostimulation market is growing at a healthy pace driven by growth in age-related neurological conditions and significant need for effective alternative therapies. This market is forecasted to grow 15% annually, offering a compelling prospect for the incumbent players. Currently, we have a Neutral recommendation on St. Jude, which is supported by a short-term Zacks #3 Rank (Hold).

 
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