Hologic, Inc. (HOLX - Free Report) has moved a step forward within its core Breast Health business with another new product added to its kitty. The company has announced to have commercially launched the Brevera breast biopsy system with CorLumina imaging technology in the United States.
Per the company, this real-time breast biopsy and verification system enhances workflow and patient experience, streamlining the entire biopsy process. Notably, the Brevera system claims to be world’s first and only breast biopsy solution, combining tissue acquisition, real-time imaging, sample verification and advanced post-biopsy handling into one integrated system. Designed for 2D and 3D breast biopsy, this technical method increases biopsy accuracy with real-time imaging, thus helping to perform fast and efficient procedures in a cost saving manner.
Per Hologic, this new advancement is a major breakthrough by the radiologists, who were hitherto conducting stereotactic breast biopsy procedures to diagnose breast cancer. This conventional practice is time-consuming as well as uncomfortable for patients. Whereas with the Brevera system, image tissue samples can be obtained right in the procedure room within a few seconds only. Good news is that this highly sophisticated technology will potentially save up to 10 minutes per patient, cutting the procedure time almost by 25%.
Hologic also claims the Brevera system’s proprietary CorLumina imaging technology to help improve workflow across multiple departments within a health system. It also features PACS integration for advanced image sharing and transfer of patient records.
Significantly, within its breast health segment, Hologic has reshaped its R&D strategy toward continuous innovation around its leadership position in 3D mammography. Besides the latest Brevera routine, there is Affirm prone biopsy system.
Management is hopeful that Brevera will begin to boost growth in 2017 and add more meaningful contribution in 2018. Also in June, Hologic had announced that the FDA labeled its Genius 3D Mammography exam as better than the standard 2D mammography for routine breast cancer screening of women with dense breasts.
While Hologic is pretty confident about the strong adoption of its Brevera breast biopsy system in the market, we look forward to the company’s consistent efforts to flourish in the field of women’s health. In this regard, it is important to mention about the immense growth opportunities the healthcare market holds at present.
Per the data provided by Markets and Markets, the breast imaging market is expected to reach $4.14 billion by 2021 at a CAGR of 8.5% from 2016. However, more searches reveal the global breast biopsy market to advance at a CAGR of 10.70% during the period 2017-2021 (per Research and Markets data, published in Business Wire).
Over the last three months, the company’s share price has underperformed the broader industry. The stock has lost 13.3% compared with the broader industry’s fall of 0.7%.
Zacks Rank & Key Picks
Hologic carries a Zacks Rank #3 (Hold). A few better-ranked medical stocks are Edwards Lifesciences Corporation (EW - Free Report) , Lantheus Holdings, Inc. (LNTH - Free Report) and IDEXX Laboratories, Inc. (IDXX - Free Report) . While Edwards Lifesciences sports a Zacks Rank #1 (Strong Buy), Lantheus Holdings and IDEXX Laboratories carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Edwards Lifesciences has a long-term expected earnings growth rate of 15.2%. The stock has rallied roughly 19.8% over the last six months.
Lantheus Holdings has a long-term expected earnings growth rate of 12.5%. The stock has surged 21.6% over the last six months.
IDEXX Laboratories has a long-term expected earnings growth rate of 19.8%. The stock has gained around 2.9% over the last six months.
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