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Medical technology major Boston Scientific Corporation (BSX - Analyst Report) gained the European CE Mark approval for its GUIDE DBS System. The company’s latest addition to its expansive portfolio is the foremost deep brain stimulation (DBS) visualization system across the globe offering unique patient benefits.

This marks the first commercial release of a product from the takeover of Intelect Medical in 2011. The regulatory approval for GUIDE DBS is a major upside for Boston Scientific which has been in the centre of a flurry of patent issues of late.

Medical experts are of the opinion that GUIDE DBS is a breakthrough for promoting DBS. The 3D visuals presented by Boston Scientific’s GUIDE DBS System simulate stimulation output. This saves clinicians’ time and improves precision of the patient centered therapy.

The in-built technology of the GUIDE DBS coupled with the innovative programming options of the company’s Vercise DBS System would provide adequate support to physicians towards improving clinical outcomes.

The Vercise DBS System won the regulatory approval in Europe for the treatment of Parkinson’s disease in the third quarter of 2012. The combination of the technologies will offer the most progressive DBS technology to neurologists, neurosurgeons as well as patients.

As per data from the European Parkinson's Disease Association, Parkinson’s disease affects almost 6.3 million individuals across the globe. Considering the sizeable market opportunity, Boston Scientific’s GUIDE DBS and the Vercise DBS should catalyze growth of its neuromodulation business going forward. The company also plans to initiate a pivotal study in the U.S. for the treatment of Parkinson’s disease in the ongoing year.

Revenues from the neuromodulation franchise climbed 6% higher in the first quarter of 2013. Product approvals in lucrative market are likely to accelerate growth of the franchise.

Currently, Boston Scientific carries a Zacks Rank #3 (Hold). While we have a neutral investment stance on this med-tech giant, medical stocks like Conceptus Inc. , carrying a Zacks Rank #1 (Strong Buy) warrant a look. Other stocks Neogen Corp. (NEOG - Snapshot Report) and Myriad Genetics Inc. (MYGN - Analyst Report), carrying a Zacks Rank #2 (Buy) are also worth considering.

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