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Merit Medical (MMSI) Launches New Inflation Device basixALPHA
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Merit Medical Systems, Inc. (MMSI - Free Report) announced the commercial release of its new ergonomic inflation device — basixALPHA — in the United States. The device is designed to streamline angioplasty procedures.
With the launch of basixALPHA, Merit Medical further strengthens its inflation device portfolio, which includes analog and digital devices like BasixCompak, basixTOUCH, Blue Diamond and DiamondTouch. These devices are primarily used for angioplasty procedures, which have low- and high-pressure capacity for inflation, deflation and measurement of pressure in angioplasty balloons.
Merit Medical is one of the leading companies in the inflation device market whose devices have already been used in more than 10 million procedures worldwide.
Significance of basixALPHA Release
Merit Medical’s basixALPHA inflation device is designed for one-handed preparation and fast inflation with minimal exertion that will streamline angioplasty procedures. The device is likely to improve the physician experience and patient outcomes around the globe.
Per the press release, more than 1.2 million coronary angioplasty procedures are performed every year in the United States. Faster inflation and the streamlining of angioplasty procedures with the use of basixALPHA inflation device are likely to drive demand for the device, thereby driving revenue growth for the company.
Price Performance
Merit Medical stock has gained 12.6% so far this year against the industry’s 13.8% decline and the S&P 500's 16.8% fall.
Image Source: Zacks Investment Research
Industry Prospects
Per a report by Allied Market Research, the global inflation devices market was valued at $517 million in 2018 and is anticipated to reach $770 million by 2026 at a CAGR of approximately 5.1%. Factors like the rise in the adoption of minimally invasive procedures, the surge in healthcare expenditure globally and the rise in the geriatric population are likely to drive the market.
Given the market potential, the latest launch is expected to provide a significant boost to Merit Medical’s business in the niche space.
Notable Developments
Earlier this month, Merit Medical announced the U.S. commercial release of its PreludeSYNC EZ Radial Compression Device. It complements the company’s radial portfolio of products that includes the Prelude IDeal, Merit Medical’s thin-walled hydrophilic sheath introducer with improved kink and compression resistance.
Last month, Merit Medical announced its third-quarter 2022 results, where it registered better-than-expected performance and saw a year-over-year uptick in the top and bottom lines. Merit Medical also recorded revenue growth in the Cardiovascular segment and across the majority of its product categories within its Cardiovascular unit. Its product sales were also promising. Robust performances in the United States and outside were impressive.
In September, Merit Medical announced the U.S. commercial release of the TEMNO Elite Soft Tissue Biopsy System, the latest addition to its comprehensive portfolio of biopsy devices.
The same month, Merit Medical announced the U.S. commercial release of the Prelude Roadster Guide Sheath. Prelude Roadster is the latest addition to the Merit Vascular-Peripheral Access portfolio, which includes introducers and other products like access kits, vessel dilators and accessories.
Currently, Merit Medical carries a Zacks Rank #2 (Buy).
Some other stocks to consider from the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , ShockWave Medical, Inc. (SWAV - Free Report) and McKesson Corporation (MCK - Free Report) .
AMN Healthcare, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 3.3%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 10.9%.
AMN Healthcarehas gained 0.6% against the industry’s 31% decline so far this year.
ShockWave Medical, carrying a Zacks Rank #2 at present, has an estimated growth rate of 23.6% for 2023. SWAV’s earnings surpassed estimates in all the trailing four quarters, the average beat being 146.1%.
ShockWave Medical has gained 44.7% against the industry’s 27.7% decline so far this year.
McKesson, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 10.1%. MCK’s earnings surpassed estimates in two of the trailing four quarters and missed the same in the other two, the average beat being 4.8%.
McKesson has gained 53% against the industry’s 13.8% decline so far this year.
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Merit Medical (MMSI) Launches New Inflation Device basixALPHA
Merit Medical Systems, Inc. (MMSI - Free Report) announced the commercial release of its new ergonomic inflation device — basixALPHA — in the United States. The device is designed to streamline angioplasty procedures.
With the launch of basixALPHA, Merit Medical further strengthens its inflation device portfolio, which includes analog and digital devices like BasixCompak, basixTOUCH, Blue Diamond and DiamondTouch. These devices are primarily used for angioplasty procedures, which have low- and high-pressure capacity for inflation, deflation and measurement of pressure in angioplasty balloons.
Merit Medical is one of the leading companies in the inflation device market whose devices have already been used in more than 10 million procedures worldwide.
Significance of basixALPHA Release
Merit Medical’s basixALPHA inflation device is designed for one-handed preparation and fast inflation with minimal exertion that will streamline angioplasty procedures. The device is likely to improve the physician experience and patient outcomes around the globe.
Per the press release, more than 1.2 million coronary angioplasty procedures are performed every year in the United States. Faster inflation and the streamlining of angioplasty procedures with the use of basixALPHA inflation device are likely to drive demand for the device, thereby driving revenue growth for the company.
Price Performance
Merit Medical stock has gained 12.6% so far this year against the industry’s 13.8% decline and the S&P 500's 16.8% fall.
Image Source: Zacks Investment Research
Industry Prospects
Per a report by Allied Market Research, the global inflation devices market was valued at $517 million in 2018 and is anticipated to reach $770 million by 2026 at a CAGR of approximately 5.1%. Factors like the rise in the adoption of minimally invasive procedures, the surge in healthcare expenditure globally and the rise in the geriatric population are likely to drive the market.
Given the market potential, the latest launch is expected to provide a significant boost to Merit Medical’s business in the niche space.
Notable Developments
Earlier this month, Merit Medical announced the U.S. commercial release of its PreludeSYNC EZ Radial Compression Device. It complements the company’s radial portfolio of products that includes the Prelude IDeal, Merit Medical’s thin-walled hydrophilic sheath introducer with improved kink and compression resistance.
Last month, Merit Medical announced its third-quarter 2022 results, where it registered better-than-expected performance and saw a year-over-year uptick in the top and bottom lines. Merit Medical also recorded revenue growth in the Cardiovascular segment and across the majority of its product categories within its Cardiovascular unit. Its product sales were also promising. Robust performances in the United States and outside were impressive.
In September, Merit Medical announced the U.S. commercial release of the TEMNO Elite Soft Tissue Biopsy System, the latest addition to its comprehensive portfolio of biopsy devices.
The same month, Merit Medical announced the U.S. commercial release of the Prelude Roadster Guide Sheath. Prelude Roadster is the latest addition to the Merit Vascular-Peripheral Access portfolio, which includes introducers and other products like access kits, vessel dilators and accessories.
Merit Medical Systems, Inc. Price
Merit Medical Systems, Inc. price | Merit Medical Systems, Inc. Quote
Zacks Rank & Other Key Picks
Currently, Merit Medical carries a Zacks Rank #2 (Buy).
Some other stocks to consider from the broader medical space are AMN Healthcare Services, Inc. (AMN - Free Report) , ShockWave Medical, Inc. (SWAV - Free Report) and McKesson Corporation (MCK - Free Report) .
AMN Healthcare, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 3.3%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 10.9%.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
AMN Healthcarehas gained 0.6% against the industry’s 31% decline so far this year.
ShockWave Medical, carrying a Zacks Rank #2 at present, has an estimated growth rate of 23.6% for 2023. SWAV’s earnings surpassed estimates in all the trailing four quarters, the average beat being 146.1%.
ShockWave Medical has gained 44.7% against the industry’s 27.7% decline so far this year.
McKesson, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 10.1%. MCK’s earnings surpassed estimates in two of the trailing four quarters and missed the same in the other two, the average beat being 4.8%.
McKesson has gained 53% against the industry’s 13.8% decline so far this year.