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Cardiovascular Systems (CSII) Introduces Diamondback in Canada

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Cardiovascular Systems, Inc. (CSII - Free Report) recently announced that the first patients in Canada have been treated with its Diamondback 360 Coronary Orbital Atherectomy System (OAS) at the Peter Munk Cardiac Centre, Toronto General Hospital, part of the University Health Network.

The Diamondback 360 Coronary OAS combines the sanding and pulsatile force to treat a broad range of calcium morphology and lesion types in patients with calcific coronary artery disease. The safety and high procedural success of the Diamondback 360 Coronary OAS has been reinforced by two real-world studies conducted with approximately 1000 patients.

The first commercial use of Diamondback 360 Coronary OAS in Canada is expected to expand Cardiovascular Systems’ orbital atherectomy system of products.

A Few Words on the Orbital Atherectomy System

The revascularization for patients with calcific coronary artery disease requires interventionalists to fully prepare vessels for stenting, so that a full stent expansion is achieved. However, it’s a challenging job to achieve optimal vessel preparation in heavily calcified coronary arteries. Notably, Cardiovascular Systems’ orbital atherectomy technology enables effective calcium modification to facilitate full stent expansion. The OAS is further optimized for efficiency as it permits bi-directional atherectomy in multiple vessel sizes with one device.

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The orbital atherectomy technology exhibited clinical advantages compared to alternative treatments, including the low rates of procedural complications and target lesion revascularization through three years. The company’s ORBIT II and COAST clinical studies demonstrated the safety and efficacy of the OAS in treating patients with de novo severely calcified coronary lesions.

Industry Prospects

Per a report published in the Mordor Intelligence, the atherectomy device market is expected to see a CAGR of 6.03% during 2021-2026. Factors such as the growing preference for minimally invasive surgeries, such as atherectomy (generally used to treat arteries), continuous product development and commercialization, favorable medical reimbursement scenario in mature markets and strengthening distribution channels of major product manufacturers, are expected to fuel market growth during the forecast period.

Given the substantial market prospects, the introduction of the Diamondback 360 Coronary OAS in Canada seems well-timed.

Notable Developments

In June 2021, Cardiovascular Systems announced the availability of the full line of OrbusNeich JADE percutaneous transluminal angioplasty (PTA) over-the-wire (OTW) balloon catheters in the United States. The company is the exclusive U.S. distributor of the OrbusNeich balloon products. The full commercial launch of the JADE balloons expands Cardiovascular Systems’ peripheral product offerings.

In May 2021, the company released results from a real-world optical coherence tomography (OCT) imaging study of coronary OAS patients at the EuroPCR 2021. The study was designed to evaluate the dual mechanism of action of orbital atherectomy. Per management, this study highlighted the benefits of imaging to optimize vessel preparation and reinforced the efficacy of orbital atherectomy’s unique mechanism of action, which both ablates and fractures calcium.

In February 2021, Cardiovascular Systems partnered with Chansu Vascular Technologies, LLC (CVT) to develop novel peripheral and coronary everolimus drug-coated balloons (DCBs). The next-generation DCBs will complement Cardiovascular Systems’ current and growing portfolio of products for the treatment of complex coronary and peripheral disease.

Share Price Performance

The stock has underperformed its industry over the past year. It has rallied 9.7% compared with the industry’s 10% growth.

Zacks Rank and Key Picks

Currently, Cardiovascular Systems carries a Zacks Rank #3 (Hold).

Better-ranked stocks from the Medical-Products industry include VAREX IMAGING (VREX - Free Report) , Envista Holdings Corporation (NVST - Free Report) and BellRing Brands, Inc. (BRBR - Free Report) .

VAREX, sporting a Zacks Rank #1 (Strong Buy), has a long-term earnings growth rate of 5%. You can see the complete list of today’s Zacks #1 Rank stocks here.

Envista Holdings, with a Zacks Rank #2 (Buy), has a long-term earnings growth rate of 27.4%.

BellRing Brands, carrying a Zacks Rank #2, has a long-term earnings growth rate of 29.1%.