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Merit Medical's (MMSI) SCOUT Bx Delivery System Gets FDA Nod
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Merit Medical Systems, Inc. (MMSI - Free Report) recently received FDA clearance for the SCOUT Bx Delivery System — the first wire-free breast localization solution that can be placed at the time of stereotactic or MRI-guided biopsy. In fact, the SCOUT Bx system is the latest addition to the Merit Oncology Breast and Soft Tissue Localization profile.
It is worth mentioning that Merit Oncology provides a broad range of localization and brachytherapy technologies to cater to diverse clinical needs. In recent times, the SCOUT Mini Reflector was unveiled, which is optimally sized for lymph node placement.
The SCOUT system has been used in approximately 300,000 breast localizations globally and has been referenced in above 65 clinical publications. It is the only localization system cleared for long-term implant status for breast and soft tissue.
This approval is likely to provide a further boost to the company’s robust product portfolio.
Significance of the Approval
Per management at Merit Medical, the SCOUT system is leading the market with respect to wire-free breast surgical localization and is focused on maintaining this leadership position on the back of sustained innovation to accelerate and simplify treatment for cancer patients.
Image Source: Zacks Investment Research
Placement during the time of biopsy reduces the burden on cancer patients and aids healthcare providers. The SCOUT Bx system makes this crucial treatment option accessible to more patients.
It is important to mention here that the SCOUT Bx system is compatible with the most commonly used stereotactic and MRI-guided breast biopsy devices on the market, thereby helping the patient to avoid an additional procedure.
Market Prospects
Per a report by MarketsandMarkets, the global biopsy devices market is projected to reach $2.42 billion by 2022from $1.63 billion in 2016, witnessing a CAGR of 6.8% during the forecast period (2017-2022). Hence, this approval comes at an opportune time for Merit Medical.
Another Notable Development
Last month, Merit Medical announced that it has received the FDA’s breakthrough device designation for its product, Embosphere Microspheres, for the GAE indication.
Price Performance
Shares of the Zacks Rank #3 (Hold) company have gained 8.3% in a year’s time compared with the industry’s rally of 9.7%.
Stocks to Consider
Some better-ranked stocks from the broader medical space that investors can consider are AMN Healthcare Services, Inc. (AMN - Free Report) , McKesson Corporation (MCK - Free Report) and Henry Schein, Inc. (HSIC - Free Report) .
AMN Healthcare has an estimated long-term growth rate of 16.2%. AMN’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 20%. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare has gained 35.4% against the industry’s decline of 57.7% over the past year.
McKesson, carrying a Zacks Rank #2 (Buy), has an estimated long-term growth rate of 11.9%. EW’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 20.6%.
McKesson has appreciated 69.5% compared with the industry’s rise of 7.6% over the past year.
Henry Schein has an estimated long-term growth rate of 11.8%. HSIC’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 25.5%. It currently has a Zacks Rank #2.
Henry Schein has surged 29.6% compared with the industry’s rally of 7.6% over the past year.
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Merit Medical's (MMSI) SCOUT Bx Delivery System Gets FDA Nod
Merit Medical Systems, Inc. (MMSI - Free Report) recently received FDA clearance for the SCOUT Bx Delivery System — the first wire-free breast localization solution that can be placed at the time of stereotactic or MRI-guided biopsy. In fact, the SCOUT Bx system is the latest addition to the Merit Oncology Breast and Soft Tissue Localization profile.
It is worth mentioning that Merit Oncology provides a broad range of localization and brachytherapy technologies to cater to diverse clinical needs. In recent times, the SCOUT Mini Reflector was unveiled, which is optimally sized for lymph node placement.
The SCOUT system has been used in approximately 300,000 breast localizations globally and has been referenced in above 65 clinical publications. It is the only localization system cleared for long-term implant status for breast and soft tissue.
This approval is likely to provide a further boost to the company’s robust product portfolio.
Significance of the Approval
Per management at Merit Medical, the SCOUT system is leading the market with respect to wire-free breast surgical localization and is focused on maintaining this leadership position on the back of sustained innovation to accelerate and simplify treatment for cancer patients.
Image Source: Zacks Investment Research
Placement during the time of biopsy reduces the burden on cancer patients and aids healthcare providers. The SCOUT Bx system makes this crucial treatment option accessible to more patients.
It is important to mention here that the SCOUT Bx system is compatible with the most commonly used stereotactic and MRI-guided breast biopsy devices on the market, thereby helping the patient to avoid an additional procedure.
Market Prospects
Per a report by MarketsandMarkets, the global biopsy devices market is projected to reach $2.42 billion by 2022from $1.63 billion in 2016, witnessing a CAGR of 6.8% during the forecast period (2017-2022). Hence, this approval comes at an opportune time for Merit Medical.
Another Notable Development
Last month, Merit Medical announced that it has received the FDA’s breakthrough device designation for its product, Embosphere Microspheres, for the GAE indication.
Price Performance
Shares of the Zacks Rank #3 (Hold) company have gained 8.3% in a year’s time compared with the industry’s rally of 9.7%.
Stocks to Consider
Some better-ranked stocks from the broader medical space that investors can consider are AMN Healthcare Services, Inc. (AMN - Free Report) , McKesson Corporation (MCK - Free Report) and Henry Schein, Inc. (HSIC - Free Report) .
AMN Healthcare has an estimated long-term growth rate of 16.2%. AMN’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 20%. It currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare has gained 35.4% against the industry’s decline of 57.7% over the past year.
McKesson, carrying a Zacks Rank #2 (Buy), has an estimated long-term growth rate of 11.9%. EW’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 20.6%.
McKesson has appreciated 69.5% compared with the industry’s rise of 7.6% over the past year.
Henry Schein has an estimated long-term growth rate of 11.8%. HSIC’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 25.5%. It currently has a Zacks Rank #2.
Henry Schein has surged 29.6% compared with the industry’s rally of 7.6% over the past year.