St. Jude Unify Quadra Hits Europe - Analyst Blog
September 21 2011 - 10:15AM
Zacks
Medical devices giant St.
Jude Medical (STJ) has commenced the European roll-out of
its “Unify Quadra” cardiac resynchronization therapy defibrillator
(“CRT-D”). The small quadripolar pacing system enables physicians
to more effectively manage the pacing needs of patients with heart
failure (inability of the heart to pump enough blood).
Roughly 14 million people are
affected by heart failure in Europe, a figure which is expected to
leap to around 30 million by 2020. The condition leads to more than
3.6 million hospitalizations annually in the continent.
Cardiac resynchronization therapy
(“CRT”), delivered through implantable cardioverter defibrillator
(“ICD”) or a pacemaker, resynchronizes the beating of
the heart’s lower chambers that often beat abnormally in patients
with heart failure. CRT has been found to be effective in improving
the quality of life in many patients with heart failure.
St. Jude launched the quadripolar
technology in Europe in 2010 by introducing the “Promote Quadra”
CRT-D and is currently the only company to offer this technology
globally. Promote Quadra combines multiple pacing configuration,
features and
programming options, allowing surgeons to optimize the device at
the implant to better manage common pacing complications
such as phrenic nerve or diaphragmatic stimulation, which can occur
in patients implanted with a CRT system. Besides, it also reduces
the need for surgical revisions.
Phrenic nerve or diaphragmatic
stimulation takes place when an electrical output from a CRT device
unintentionally activates the diaphragm muscle, resulting in major
discomfort for patients. The complication generally occurs due to
the location of left ventricular (“LV”) pacing lead electrode.
Unify Quadra represents an
advancement over Promote Quadra, offering all the benefits of
quadripolar technology in a device with the smallest footprint in
the industry. The device’s narrower shape allows surgeons to
implant it through a smaller incision, leading to reduced time in
closing the incision and a smaller scar for the patient.
Unify Quadra uses the “Quartet” LV
pacing lead, the first lead to feature four pacing electrodes which
can be used in up to ten pacing configurations. This provides a
greater number of options and control and enables surgeons to place
the lead in the most stable position and manage implant
complications, resulting in improved patient outcome. Since the
surgeon can adjust pacing locations or configurations, the
technology has the potential to lessen the need for multiple
surgeries.
St. Jude is poised for incremental
opportunities in CRM riding on strong product momentum. Its Fortify
and Unify devices are already gaining notable traction. Several new
products should boost the company’s CRM share in 2011.
However, St. Jude and its peers
Medtronic (MDT) and Boston
Scientific (BSX) are fighting a turf war in the
soft CRM market. The sustained weakness in this market may
hurt the company’s CRM sales in 2011. Our Neutral recommendation on
St. Jude is in line with a Zacks #3 Rank (Hold).
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