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Abbott (ABT) Gets FDA Nod for New Cardiac Mapping System

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Abbott Laboratories (ABT - Free Report) recently announced the receipt of the FDA clearance for the EnSite X EP System with EnSite Omnipolar Technology (OT). The new system is available in the United States and across Europe and is intended to assist physicians in better treating abnormal heart rhythms, also known as cardiac arrhythmias.

More on EnSite X EP System

The EnSite X EP system creates highly detailed three-dimensional maps of the heart to aid physicians in identifying and treating areas of the heart where abnormal rhythms originate. Additionally, the system includes Abbott's proprietary EnSite OT, which utilizes the Advisor HD Grid Catheter to provide true electrograms (EGMs) regardless of how the catheter is oriented within the heart.

Further, the EnSite X EP System with EnSite OT can map 1 million points in the heart and offers a 360-degree view of the heart, regardless of catheter orientation, for cardiac mapping without compromise.

In designing the EnSite X System with EnSite OT, Abbott designed the platform to be upgradable via new software to ensure access to the latest technology without the need for entirely new systems. In addition, EnSite X EP System with EnSite OT is the first mapping system that enables physicians to select between two methods of cardiac visualization.

Significance of the System

It is worth mentioning that more patients than ever before are benefitting from ablation to treat abnormal heart rhythms and Abbott's new EnSite X System with EnSite OT, leveraging Advisor HD Grid catheter represents the newest innovation available to support the treatment of complex and challenging cardiac arrhythmias.

Interestingly, Abbott’s new system supports safe and effective treatment of cardiac arrhythmias and enhances the accuracy of maps, allowing for a clearer understanding of what is going on in the heart and what areas need to be targeted with ablation to treat arrhythmias.

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The EnSite X System with EnSite OT improves the utility of the unique Advisor HD Grid catheter. It enables doctors to quickly and accurately create real-time, stable, three-dimensional models of the heart. These models provide a way to accurately identify areas causing problems, enabling physicians to treat abnormal heart rhythms better and preserve healthy tissue.

Industry Prospects

Per a report by Grand View Research, the global arrhythmia monitoring devices market size is expected to reach $8.41 billion in 2025, with a CAGR of 6.8%. Continuous R&D activities in the field of cardiac monitoring are driving the market.

Recent Developments

In January 2022, Abbott received a new FDA approval with its Proclaim XR spinal cord stimulation system (SCS) for people with chronic pain. The regulatory body has approved an expanded magnetic resonance imaging (MRI) compatibility for the Proclaim XR platform with Octrode leads.

In November 2021, Abbott announced new, late-breaking data from the Leadless II IDE study assessing Abbott's investigational Aveir leadless pacemaker in patients with certain abnormal heart rhythms. The study findings were presented in a late-breaking session at the annual Scientific Sessions of the Asia Pacific Heart Rhythm Society (APHRS).

Price Performance

Shares of the company have gained 17.8% in a year against the industry's decline of 8.3%.

Zacks Rank & Key Picks

Abbott currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

A few better-ranked stocks in the broader medical space that investors can consider are AMN Healthcare Services, Inc. (AMN - Free Report) , Apollo Endosurgery, Inc. (APEN - Free Report) and Laboratory Corporation of America Holdings (LH - Free Report) .

AMN Healthcare, carrying a Zacks Rank #1, has a long-term earnings growth rate of 16.2%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 19.5%, on average.

AMN Healthcare has outperformed its industry over the past year. AMN has gained 66.1% versus the 54.9% industry decline.

Apollo Endosurgery, carrying a Zacks Rank #2 (Buy), has a long-term earnings growth rate of 7%. The company‘s earnings surpassed estimates in the trailing four quarters, delivering a surprise of 25.6%, on average.

Apollo Endosurgery has outperformed its industry in the past year. APEN has gained 125.6% compared with the industry’s 1.2% growth.

Laboratory Corp surpassed earnings estimates in each of the trailing four quarters, the average surprise being 25.7%. The company currently sports a Zacks Rank #1.

Laboratory Corp’s long-term earnings growth rate is estimated at 10.6%. The company’s earnings yield of 9.4% compares favorably with the industry’s 3.4%.