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A provider of medical devices for critical care and surgery, Teleflex Inc. (TFX - Free Report) announced that it has received clearance from the U.S. Food and Drug Administration (FDA) to market its Arrow JACC with Chlorag+ard Technology and TightTrack tunneler.

Teleflex’s Arrow JACC with Chlorag+ard Technology is a long-term, tunneled, small french size antithrombogenic and antimicrobial central venous catheter. The catheter is also designed for use with high-pressure injection for diagnostic studies. The Arrow JACC with Chlorag+ard Technology protects against catheter occlusion, phlebitis, and intimal hyperplasia.

With the addition of tunneled Arrow JACC to its line of vascular access products, the company can more effectively tap the market of patients with end stage renal disease where vessel health and preservation is essential to provide a future dialysis vascular access.

A quick review of Teleflex’s recent history reveals that the company has been making meaningful investments of late, which in turn reflect its deliberate focus on the electrophysiology space. These investments are built upon Teleflex’s proprietary technologies, which include the Arrow JACC Technology and TightTrack System.

According to a recent report by MarketsandMarkets, the global electrophysiology devices market is projected to reach $4.73 billion by 2019 with a CAGR of 10.3%. Given the aforementioned developments, we expect the FDA approval for ARROW and TightTrack to allow Teleflex to capture meaningful share in the global electrophysiology devices market, going ahead.

Based in Wayne, PA, Teleflex designs, develops, manufactures, and supplies single-use medical devices for common diagnostic and therapeutic procedures in critical care and surgical applications worldwide. The company offers its products to hospitals and healthcare providers through its direct sales force and distributors.

Zacks Rank and Other Key Picks

Telefex carries a Zacks Rank #2 (Buy). Other favorably ranked stocks in the broader medical sector are GW Pharmaceuticals plc (GWPH - Free Report) , Quidel Corp. (QDEL - Free Report) and NuVasive, Inc. (NUVA - Free Report) . GW Pharmaceuticals and Quidel sport a Zacks Rank #1 (Strong Buy) while NuVasive carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

GW Pharmaceuticals reported a 86.94% gain year to date, far better than the S&P 500’s 4.54% over the same period. The trailing four-quarter average earnings surprise is 41.67%.

Quidel recorded 16.84% in the past one year, higher than the S&P 500’s 6.64%. Over the next five years, the stock is estimated to record earnings growth rate of 20%, higher than the industry average of 14.8%.

NuVasive gained 30.54% over the past one year compared to the S&P 500’s 6.64%. Over the next five years, the stock is expected to see 16.7% earnings growth compared to the industry average of 14.8%.

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