Teleflex Incorporated (TFX - Free Report) announced that its ISO-Gard Mask with ClearAir Technology will be used for the first time by the Community Surgery Center North healthcare facility, part of Indianapolis, Indiana-based Community Health Network.
The ISO-Gard Mask has been developed to protect nursing staffs in the Post Anesthesia Care Unit (PACU) against harmful waste anesthetic gas (WAG). As per the Occupational Safety and Health Administration (OSHA), WAG exposure can lead to health problems such as nausea, dizziness, headaches and fatigue. Moreover, the ClearAir Technology featured with the ISO-Gard delivers oxygen to patients and prevents their infectious exhalation from affecting clinicians at the same time.
Based on a survey by the Centers for Disease Control and Prevention (CDC), Teleflex projects that, every year, anesthetic gases are used in 20 million surgeries in the U.S. and about 100 million worldwide. Adoption of the only remedy for “source control” of WAG by medical centers should further boost revenues of TFX’s Anesthesia and Respiratory Division.
Headquartered in Limerick, PA, TFX is a leading provider of specialty medical devices for a range of procedures in critical care and surgery globally. Teleflex posted a 26.7% rise in adjusted earnings to $1.33 per share for the third quarter of 2013 from $1.05 in the same quarter of 2012. With this, earnings significantly beat the Zacks Consensus Estimate of $1.14. Net revenues went up 12.4% to $413.8 million, exceeding the Zacks Consensus Estimate of $410 million.
We are encouraged about its significant earnings beat in the third quarter of 2013 and higher EPS guidance. However, we are concerned about weaknesses in Asia and some of its product markets that led to lower revenue guidance.
In the last reported quarter, revenues from Teleflex’s core Critical Care products (that includes anesthesia and respiratory products) increased 18.7% to $289.3 million due to higher sales of anesthesia, vascular, urology and interventional access products. The rise in anesthesia product sales was attributable to the contribution from the LMA International business, partially offset by lower sales of respiratory products compared with the third quarter of 2012.
Currently, TFX retains a Zacks Rank #3 (Hold). Stocks that are performing relatively well in the medical instruments industry include CryoLife Inc. (CRY - Free Report) , Natus Medical Inc. (BABY - Free Report) and AngioDynamics, Inc. (ANGO - Free Report) . While CryoLife and Natus Medical carry a Zacks Rank #1 (Strong Buy), AngioDynamics carries a Zacks Rank #2 (Buy).