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Medtronic SureTune3 Obtains Health Canada License for DBS
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Medical technology, services and solutions major, Medtronic plc (MDT - Free Report) continues to expand its brain therapy business worldwide. As a major breakthrough, the company recently announced the receipt of Health Canada license for SureTune 3 software for deep brain stimulation (DBS).
DBS therapy is a surgical procedure of placing a medical device to deliver electrical stimulation to the accurate lead location of the brain in order to reduce some of the most disabling motor symptoms related to Parkinson’s disease.
Sure Tune 3 is software designed for programming DBS therapy. This technology offers more accurate and efficient treatment along with centralized data storage facility for better patient management. The advanced features of SureTune3 help in streamlining the physician’s workflow using StealthStation technology.
Per management, SureTune 3 provides patient-specific visualization of lead location and simulated volume of neural activation to help doctors take decisions on how to design specific DBS therapies for different patients. SureTune3 also offers a 3D deformable atlas to help physicians define anatomical structures more precisely, or the exact spot in the brain that must be stimulated to alleviate symptoms.
The DBS therapy won the Health Canada license to treat diseases like Parkinson’s, Dystonia, Epilepsy and also tremors by targeting the lead location accurately in the brain. The company is making consistent efforts to boost the adoption of the therapy in Canada. This is because the data by Parkinson Society Southwestern Ontario states that more than 100,000 people are impacted by the disease in Canada alone.
Worldwide, Medtronic’s DBS therapy has already gained much popularity. It has got approval in several places across the world, including the U.S. and Europe, to treat disabling symptoms of essential tremor and Parkinson's disease. In the U.S., the company has got Humanitarian Device Exemption (HDE) to treat chronic intractable primary dystonia. In Europe, Canada and Australia, DBS therapy already has the license to treat refractory epilepsy.
As per a Transparency Market Research report, the global deep brain stimulation devices market has been estimated to reach a worth of $3.21 billion in 2020, at a CAGR of 8.9%. The company clearly has huge growth potential in this market.
Recent Developments
Medtronic rolled out a new StealthStation technology at the American Academy of Neurological Surgeons (AANS) annual conference in Los Angeles. The StealthStation technology has been a mainstay in neurosurgery suites for the past 25 years, being used in more than 2.25 million procedures.
Also, the company has received CE Mark for SureTune2, which provides patient-specific visualization to aid in DBS programming.
Zacks Rank & Key Picks
Medtronic currently carries a Zacks Rank #3 (Hold). A few better-ranked medical stocks are Align Technology, Inc. (ALGN - Free Report) , Inogen, Inc. (INGN - Free Report) and Accelerate Diagnostics, Inc. (AXDX - Free Report) . Notably, Align Technologyand Inogen sport a Zacks Rank #1 (Strong Buy), while Accelerate Diagnostics carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Align Technologyhas an expected long-term adjusted earnings growth of almost 22.8%. The stock added roughly 44.1% over the last three months.
Inogen has a long-term expected earnings growth rate of 17.5%. The stock has a solid one-year return of around 79.9%.
Accelerate Diagnostics has an expected long-term adjusted earnings growth of 30%. The stock added roughly 13.1% over the last three months.
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At Zacks, we're mostly focused on short-term profit cycles, but the hottest of all technology mega-trends is starting to take hold...
By last year, it was already generating $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for those who make the right trades early. See Zacks' Top 3 Stocks to Ride This Space >>
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Medtronic SureTune3 Obtains Health Canada License for DBS
Medical technology, services and solutions major, Medtronic plc (MDT - Free Report) continues to expand its brain therapy business worldwide. As a major breakthrough, the company recently announced the receipt of Health Canada license for SureTune 3 software for deep brain stimulation (DBS).
DBS therapy is a surgical procedure of placing a medical device to deliver electrical stimulation to the accurate lead location of the brain in order to reduce some of the most disabling motor symptoms related to Parkinson’s disease.
Sure Tune 3 is software designed for programming DBS therapy. This technology offers more accurate and efficient treatment along with centralized data storage facility for better patient management. The advanced features of SureTune3 help in streamlining the physician’s workflow using StealthStation technology.
Medtronic PLC Price
Medtronic PLC Price | Medtronic PLC Quote
Per management, SureTune 3 provides patient-specific visualization of lead location and simulated volume of neural activation to help doctors take decisions on how to design specific DBS therapies for different patients. SureTune3 also offers a 3D deformable atlas to help physicians define anatomical structures more precisely, or the exact spot in the brain that must be stimulated to alleviate symptoms.
The DBS therapy won the Health Canada license to treat diseases like Parkinson’s, Dystonia, Epilepsy and also tremors by targeting the lead location accurately in the brain. The company is making consistent efforts to boost the adoption of the therapy in Canada. This is because the data by Parkinson Society Southwestern Ontario states that more than 100,000 people are impacted by the disease in Canada alone.
Worldwide, Medtronic’s DBS therapy has already gained much popularity. It has got approval in several places across the world, including the U.S. and Europe, to treat disabling symptoms of essential tremor and Parkinson's disease. In the U.S., the company has got Humanitarian Device Exemption (HDE) to treat chronic intractable primary dystonia. In Europe, Canada and Australia, DBS therapy already has the license to treat refractory epilepsy.
As per a Transparency Market Research report, the global deep brain stimulation devices market has been estimated to reach a worth of $3.21 billion in 2020, at a CAGR of 8.9%. The company clearly has huge growth potential in this market.
Recent Developments
Medtronic rolled out a new StealthStation technology at the American Academy of Neurological Surgeons (AANS) annual conference in Los Angeles. The StealthStation technology has been a mainstay in neurosurgery suites for the past 25 years, being used in more than 2.25 million procedures.
Also, the company has received CE Mark for SureTune2, which provides patient-specific visualization to aid in DBS programming.
Zacks Rank & Key Picks
Medtronic currently carries a Zacks Rank #3 (Hold). A few better-ranked medical stocks are Align Technology, Inc. (ALGN - Free Report) , Inogen, Inc. (INGN - Free Report) and Accelerate Diagnostics, Inc. (AXDX - Free Report) . Notably, Align Technologyand Inogen sport a Zacks Rank #1 (Strong Buy), while Accelerate Diagnostics carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Align Technologyhas an expected long-term adjusted earnings growth of almost 22.8%. The stock added roughly 44.1% over the last three months.
Inogen has a long-term expected earnings growth rate of 17.5%. The stock has a solid one-year return of around 79.9%.
Accelerate Diagnostics has an expected long-term adjusted earnings growth of 30%. The stock added roughly 13.1% over the last three months.
3 Stocks to Ride a 588% Revenue Explosion
At Zacks, we're mostly focused on short-term profit cycles, but the hottest of all technology mega-trends is starting to take hold...
By last year, it was already generating $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce "the world's first trillionaires," but that should still leave plenty of money for those who make the right trades early. See Zacks' Top 3 Stocks to Ride This Space >>