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Abbott (ABT) Expands Vascular Portfolio With New Acquisition
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Abbott Laboratories (ABT - Free Report) recently announced the acquisition of Walk Vascular, LLC -- a commercial-stage medical device company with a minimally-invasive mechanical aspiration thrombectomy system. The financial terms of the deal have been kept under wraps.
With the closing of the deal, Walk Vascular's Peripheral Thrombectomy Systems will now be included in Abbott's endovascular product portfolio.
The acquisition will expand Abbott’s Peripheral Vascular offerings, boosting the company’s vascular businesses.
More on Peripheral Thrombectomy Systems
Walk Vascular's JETi Peripheral Thrombectomy System and next-generation JETi AIO (All In One) Peripheral Thrombectomy System are distinctive aspiration systems designed to remove intravascular clots, also known as thrombus.
The innovative JETi systems are intended to divide and remove clots from the peripheral vascular system while reducing the risk of dislodged clots.
Image Source: Zacks Investment Research
Both the JETi Peripheral Thrombectomy System and next-generation JETi AIO (All In One) Peripheral Thrombectomy System have received FDA 510(k) clearance for the aspiration and breaking up of soft emboli and thrombus from the peripheral vasculature. Both the systems are also CE Mark approved in Europe and in other countries.
Significance of the Acquisition
Per Abbott’s management, Vascular's technology offers physicians with tools to efficiently remove dangerous clots from blood vessels. The acquisition of Walk Vascular is well suited for the company’s vascular device offerings and further boosts Abbott's ability to provide one-of-a-kind endovascular therapy solutions to enhance patient care.
Industry Prospects
Per a report by MARKETSANDMARKETS, the global thrombectomy devices market is estimated to reach a worth of $1.45 billion by 2022, at a CAGR of 6.7%.
The rising number of minimally-invasive procedures, favorable medical reimbursements and rising demand for minimally-invasive thrombectomy procedures are factors driving the market.
Recent Developments
In August 2021, Abbott released favorable data from its GUIDE-HF clinical trial on its small implantable pulmonary pressure sensor, CardioMEMS HF System. This landmark clinical trial is a 1,000-patient randomized study to evaluate the benefits of the CardioMEMS HF System in people living with New York Heart Association (NYHA) Class II, III and IV heart failure.
In the same month, Abbott presented late-breaking data from the Amulet LAA Occluder IDE trial comparing the company's Amplatzer Amulet Left Atrial Appendage (LAA) Occluder with Boston Scientific’s (BSX - Free Report) Watchman device to treat people with atrial fibrillation (AFib) at a high risk of stroke. The study outcomes were presented in a late-breaking Hot Line session at ESC Congress 2021 organized by the European Society of Cardiology.
Price Performance
Shares of the company have gained 23.3% in a year’s time compared with the industry’s rise of 14.2%.
Image: Shutterstock
Abbott (ABT) Expands Vascular Portfolio With New Acquisition
Abbott Laboratories (ABT - Free Report) recently announced the acquisition of Walk Vascular, LLC -- a commercial-stage medical device company with a minimally-invasive mechanical aspiration thrombectomy system. The financial terms of the deal have been kept under wraps.
With the closing of the deal, Walk Vascular's Peripheral Thrombectomy Systems will now be included in Abbott's endovascular product portfolio.
The acquisition will expand Abbott’s Peripheral Vascular offerings, boosting the company’s vascular businesses.
More on Peripheral Thrombectomy Systems
Walk Vascular's JETi Peripheral Thrombectomy System and next-generation JETi AIO (All In One) Peripheral Thrombectomy System are distinctive aspiration systems designed to remove intravascular clots, also known as thrombus.
The innovative JETi systems are intended to divide and remove clots from the peripheral vascular system while reducing the risk of dislodged clots.
Both the JETi Peripheral Thrombectomy System and next-generation JETi AIO (All In One) Peripheral Thrombectomy System have received FDA 510(k) clearance for the aspiration and breaking up of soft emboli and thrombus from the peripheral vasculature. Both the systems are also CE Mark approved in Europe and in other countries.
Significance of the Acquisition
Per Abbott’s management, Vascular's technology offers physicians with tools to efficiently remove dangerous clots from blood vessels. The acquisition of Walk Vascular is well suited for the company’s vascular device offerings and further boosts Abbott's ability to provide one-of-a-kind endovascular therapy solutions to enhance patient care.
Industry Prospects
Per a report by MARKETSANDMARKETS, the global thrombectomy devices market is estimated to reach a worth of $1.45 billion by 2022, at a CAGR of 6.7%.
The rising number of minimally-invasive procedures, favorable medical reimbursements and rising demand for minimally-invasive thrombectomy procedures are factors driving the market.
Recent Developments
In August 2021, Abbott released favorable data from its GUIDE-HF clinical trial on its small implantable pulmonary pressure sensor, CardioMEMS HF System. This landmark clinical trial is a 1,000-patient randomized study to evaluate the benefits of the CardioMEMS HF System in people living with New York Heart Association (NYHA) Class II, III and IV heart failure.
In the same month, Abbott presented late-breaking data from the Amulet LAA Occluder IDE trial comparing the company's Amplatzer Amulet Left Atrial Appendage (LAA) Occluder with Boston Scientific’s (BSX - Free Report) Watchman device to treat people with atrial fibrillation (AFib) at a high risk of stroke. The study outcomes were presented in a late-breaking Hot Line session at ESC Congress 2021 organized by the European Society of Cardiology.
Price Performance
Shares of the company have gained 23.3% in a year’s time compared with the industry’s rise of 14.2%.
Zacks Rank and Key Picks
Currently, Abbott carries a Zacks Rank #3 (Hold).
A few better-ranked stocks from the broader medical space are Envista Holdings Corporation (NVST - Free Report) and BellRing Brands, Inc. (BRBR - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of Zacks #1 Rank (Strong Buy) stocks here.
Envista Holdings has an estimated long-term earnings growth rate of 27%.
BellRing Brands has an estimated long-term earnings growth rate of 29%.