Medical device major Medtronic plc (MDT - Free Report) recently announced positive results for its Heli-FX EndoAnchor system. The system improves outcome and durability in patients with complex aortic abdominal aneurysm (AAA) anatomy, especially those with hostile aortic neck anatomy. The findings were presented in three stages at the 43rd Annual Symposium of Vascular and Endovascular Issues (VEITHsymposium) in New York.
AAA is the swelling of a weak area in the abdominal aorta, a rupture in which can cause severe bleeding. Endovascular abdominal aortic aneurysm repair (EVAR) is one such surgery performed to repair the swollen area in the aorta. Medtronic’s Heli-FX and Heli-FX Thoracic EndoAnchor systems feature an endovascular deployed anchor designed to attach a variety of aortic endografts to the native vessel wall.
The latest favorable data is based on new sub-analyses from Medtronic`s ANCHOR registry – a global, multi-center, multi-arm, prospective, post-market registry evaluating the real-world applicability of the Heli-FX EndoAnchor System in up to 2,000 patients. The first set of data demonstrated outcomes in 99 patients with EndoAnchor implants combining Heli-FX EndoAnchor system and an approved stent graft during an EVAR. The results were also compared with 99 patients without EndoAnchor implants during EVAR.
In the second presentation, the Heli-FX EndoAnchor system offered additional security when used with approved endovascular stent grafts in patients with hostile AAAs. With low rates of type Ia endoleaks and reintervention rates, positive sac regression and freedom from aneurysm-related mortality (ARM) rates, EndoAnchor implants allow for safe and effective treatment of more complex anatomies, both prophylactically and in conjunction with treatment of a post-EVAR complication, such as a migration or type Ia endoleak.
A related presentation demonstrated the effects of Heli-FX EndoAnchor system on neck dilation. This additional data from the ANCHOR registry featured several variables predictive of perioperative neck dilation. The evaluation showed that after one year, EndoAnchor implants appear to offer protection against neck dilation.
As per a Medgadget report, the global EVAR devices market is estimated to multiply at a CAGR of over 6% by 2019. Management’s Aortic & Peripheral Vascular (APV) division is upbeat about the positive outcome of its Heli-FX EndoAnchor system. This opens up scope for Medtronic to gain further traction in the growing EVAR market.
Notably, in the last reported first quarter of fiscal 2017, the company’s aortic business enjoyed high single-digit growth with respect to Endurant IIs aortic stent graft, Heli-FX EndoAnchor system and Valiant Captivia thoracic stent graft technologies. We expect the positive performance of Heli-FX EndoAnchor to get reflected in the forthcoming quarter’s results as well.
Zacks Rank & Key Picks
Medtronic currently carries a Zacks Rank #3 (Hold). Better-ranked medical stocks are NxStage Medical Inc. (NXTM - Free Report) , Baxter International Inc. (BAX - Free Report) and Bovie Medical Corporation (BVX - Free Report) . NxStage Medical and Baxter International sport a Zacks Rank #1 (Strong Buy) while Bovie Medical carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
NxStage Medical surged 34.8% over the last one year compared to the S&P 500’s 4.4% over the same period. The company has a four-quarter average positive earnings surprise of 50.00%.
Baxter International rallied 23.2% year to date, much higher than the S&P 500’s 6.7%. It has a trailing four-quarter average positive earnings surprise of 27%.
Bovie Medical recorded a 125.5% gain in the past one year, way better than the S&P 500’s 4.4%. The company has a trailing four-quarter positive average earnings surprise of 28.7%
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