Boston Scientific Corporation (BSX - Analyst Report) announced CE Mark approval and the launch of its INGEVITY family of magnetic resonance imaging (MRI) compatible pacing leads in Europe. Post announcement, the company’s shares rose by 1.5% to close at $13.21 as on Mar 18, 2014.
Boston Scientific's INGEVITY MRI pacing leads belong to the ImageReady MR-conditional pacemaker system that includes VITALIO MRI, FORMIO MRI, ADVANTIO MRI and INGENIO MRI pulse generators. INGEVITY MRI is capable of wirelessly monitoring patients suffering from conditions like atrial arrhythmias, when used in conjunction with the LATITUDE NXT patient management system.
Pacing leads are insulated wires that connect the pacemaker to the heart and stimulate it to restore normal rhythm among people suffering from bradycardia (slow heartbeat). Boston Scientific’s INGEVITY family offers an all-inclusive set of leads that can be placed using a 6 French introducer, including passive and active fixation models.
The INGEVITY pacing lead platform is designed to provide key enhancements in handling and is specifically engineered to function in the MRI environment. The subset of data from the INGEVITY trial supports CE mark approval and showcases exceptional performance including positive ratings on lead handling and maneuverability from 99.5% of implanters.
The first implant of the INGEVITY MRI lead was performed on Mar 3 in Nantes, France. The product proved itself to be highly efficient.
The INGEVITY MRI pacing leads are a part of Boston Scientific’s Cardiac Rhythm Management segment which accounted for 26.4% of total revenues in 2013. Boston Scientific provides a comprehensive range of leads like RELIANCE 4-FRONT defibrillation leads, and the ACUITY X4 CRT family of leads along with INGEVITY MRI pacing leads.
INGEVITY MRI, RELIANCE 4-FRONT, ACUITY X4, and AUTOGEN X4 CRT-D are not yet available for sale in the U.S.
Boston Scientific’s ImageReady pacing system is also under clinical investigation and is still not commercially available in the U.S. The system, once available, will enable cardiac patients to undergo MRI scans. On the other hand, Medtronic, Inc. (MDT - Analyst Report) has already launched its SureScan pacing systems in the U.S. for full body MRI scans without positioning restrictions.
Currently, Boston Scientific carries a Zacks Rank #3 (Hold). Some better-ranked stocks worth a look in the broader healthcare sector are Enzymotec Ltd. (ENZY - Snapshot Report) and Covidien plc . Enzymotec sports a Zacks Rank #1 (Strong Buy) while Covidien holds a Zacks Rank #2 (Buy).