Medtronic plc (MDT - Free Report) continues to broaden portfolio with pain therapeutic solutions. Following the FDA approval, the company has recently made a significant breakthrough with the U.S. launch of the Intellis platform for management of certain types of chronic intractable pain.
Per Medtronic, this Intellis platform is able to overcome certain limitations related to current spinal cord stimulation (SCS) systems like battery performance. The platform can power the Evolve workflow, which standardizes guidance and balances high-dose (HD) and low-dose (LD) therapy settings.
Among other advancements of this platform, it is worth mentioning that it can be managed on the Samsung Galaxy Tab S2 tablet interface. This provides the physicians with faster delivery of evolving workflows and software upgrades. The Intellis platform includes both Medtronic’s proprietary SureScan MRI technology (for the broadest access available to MRI diagnostic imaging and simple eligibility determination) as well as AdaptiveStim technology (for automatic adjustments to deliver the right therapy dose to the right location as the pain target shifts according to body position).
Per a Transparency Market Research report, Global Pain Management Therapeutics Market is expected to ascend to $83 billion by 2024from $60.2 billion in 2015. Per Medtronic, back problems are one of the top 10 most expensive medical conditions with estimated 30% of the 300,000 patients annually undergoing lumbosacral spine procedures, which develop chronic intractable pain.
Keeping the above problem in mind, we are looking forward to a solid customer adoption of Intellis platform considering the huge and growing market for chronic pain management.
Over the last three months, Medtronic has underperformed the broader industry. The stock has lost 10.8% versus the 2.5% gain of the broader industry during the period.
Zacks Rank & Key Picks
Medtronic carries a Zacks Rank #4 (Sell).
Some better-ranked medical stocks are Edwards Lifesciences Corporation (EW - Free Report) , Chemed Corporation (CHE - Free Report) and Amedisys, Inc. (AMED - Free Report) . Edwards Lifesciences sports a Zacks Rank #1 (Strong Buy), while Chemed and Amedisys 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 19.5% over the last six months.
Chemed has a long-term expected earnings growth rate of 10%. The stock has gained 3.3% over the last six months.
Amedisys has a long-term expected earnings growth rate of 18.2%. The stock has gained 3.5% over the last six months.
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