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Axonics (AXNX) Gets CE Mark for Sacral Neuromodulation System
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Axonics, Inc. (AXNX - Free Report) recently achieved a milestone with the CE Mark approval of its fourth-generation rechargeable Sacral Neuromodulation (SNM) system, the R20. This groundbreaking device is set to redefine the treatment landscape for bladder and bowel dysfunction, offering new hope to patients grappling with these challenging conditions.
The R20 system is engineered for longevity and convenience, boasting a functional lifespan of at least 20 years within the body. This remarkable durability reduces the frequency of patient recharges to once every 6-10 months, requiring only an hour per session. This is a substantial improvement in patient convenience and compliance, addressing one of the most significant burdens of rechargeable medical devices.
The compact 5cc form factor, consistent with its predecessor, coupled with an intuitive patient remote control, ensures ease of use without compromising on functionality or comfort.
Moreover, the R20 system offers enhanced programming capabilities and expanded MRI labeling, granting patients and physicians greater flexibility and peace of mind. These improvements align with Axonics' mission to deliver superior patient experiences through innovative solutions.
Shares of Axonics have risen 9% year to date against the industry's 0.5% decline. The S&P 500 Index has increased 7.8% in the same time frame.
Image Source: Zacks Investment Research
Launch and Market Expansion
With the receipt of the CE Mark approval, Axonics is poised to introduce the R20 system to the European market by mid-April, following its earlier approvals in the United States and Canada. This strategic rollout underscores the company's commitment to addressing the needs of the incontinence patient population on a global scale.
CEO Raymond W. Cohen's vision of driving market expansion is rooted in a deep understanding of patient needs. By focusing on efficacy and durability, the R20 system not only fulfills these demands but also sets a new benchmark for rechargeable neuromodulation devices. Cohen's confidence in the device's market potential is a testament to the innovative strides Axonics is making.
Strategic Deal
Boston Scientific (BSX - Free Report) has entered into an agreement to acquire Axonics for a sum of $3.7 billion, reflecting the potential of Axonics' neuromodulation systems for urinary and bowel dysfunction.
Priced at $71 per share in cash, the acquisition underscores Boston Scientific's investment in Axonics’ cutting-edge technology, including the latest FDA-approved R20 rechargeable SNM system and the launch of its recharge-free F15 SNM system. This acquisition by Boston Scientific not only values Axonics at approximately $3.7 billion in equity but also assigns an enterprise value of about $3.4 billion. These highlight the strong financial and strategic future envisioned for AXNX’s technology and team within the Boston Scientific portfolio.
Some better-ranked stocks in the broader medical space are DaVita Inc. (DVA - Free Report) and Cardinal Health (CAH - Free Report) .
DaVita, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 12.1%. DVA’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 35.57%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s shares have risen 32% year to date compared with the industry’s 7.9% growth.
Cardinal Health, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 14.2%. Its earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 15.64%.
Cardinal Health’s shares have rallied 10.2% year to date compared with the industry’s 5.2% growth.
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Axonics (AXNX) Gets CE Mark for Sacral Neuromodulation System
Axonics, Inc. (AXNX - Free Report) recently achieved a milestone with the CE Mark approval of its fourth-generation rechargeable Sacral Neuromodulation (SNM) system, the R20. This groundbreaking device is set to redefine the treatment landscape for bladder and bowel dysfunction, offering new hope to patients grappling with these challenging conditions.
The R20 system is engineered for longevity and convenience, boasting a functional lifespan of at least 20 years within the body. This remarkable durability reduces the frequency of patient recharges to once every 6-10 months, requiring only an hour per session. This is a substantial improvement in patient convenience and compliance, addressing one of the most significant burdens of rechargeable medical devices.
The compact 5cc form factor, consistent with its predecessor, coupled with an intuitive patient remote control, ensures ease of use without compromising on functionality or comfort.
Moreover, the R20 system offers enhanced programming capabilities and expanded MRI labeling, granting patients and physicians greater flexibility and peace of mind. These improvements align with Axonics' mission to deliver superior patient experiences through innovative solutions.
Shares of Axonics have risen 9% year to date against the industry's 0.5% decline. The S&P 500 Index has increased 7.8% in the same time frame.
Image Source: Zacks Investment Research
Launch and Market Expansion
With the receipt of the CE Mark approval, Axonics is poised to introduce the R20 system to the European market by mid-April, following its earlier approvals in the United States and Canada. This strategic rollout underscores the company's commitment to addressing the needs of the incontinence patient population on a global scale.
CEO Raymond W. Cohen's vision of driving market expansion is rooted in a deep understanding of patient needs. By focusing on efficacy and durability, the R20 system not only fulfills these demands but also sets a new benchmark for rechargeable neuromodulation devices. Cohen's confidence in the device's market potential is a testament to the innovative strides Axonics is making.
Strategic Deal
Boston Scientific (BSX - Free Report) has entered into an agreement to acquire Axonics for a sum of $3.7 billion, reflecting the potential of Axonics' neuromodulation systems for urinary and bowel dysfunction.
Priced at $71 per share in cash, the acquisition underscores Boston Scientific's investment in Axonics’ cutting-edge technology, including the latest FDA-approved R20 rechargeable SNM system and the launch of its recharge-free F15 SNM system. This acquisition by Boston Scientific not only values Axonics at approximately $3.7 billion in equity but also assigns an enterprise value of about $3.4 billion. These highlight the strong financial and strategic future envisioned for AXNX’s technology and team within the Boston Scientific portfolio.
Axonics Inc. Price
Axonics Inc. price | Axonics Inc. Quote
Zacks Rank & Stocks to Consider
Axonics currently has a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are DaVita Inc. (DVA - Free Report) and Cardinal Health (CAH - Free Report) .
DaVita, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 12.1%. DVA’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 35.57%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s shares have risen 32% year to date compared with the industry’s 7.9% growth.
Cardinal Health, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 14.2%. Its earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 15.64%.
Cardinal Health’s shares have rallied 10.2% year to date compared with the industry’s 5.2% growth.