Abbott (ABT - Free Report) recently announced results for its AMPLATZER Amulet left atrial appendage (LAA) occlusion device in a bid to fortify its core Structural Heart business. Data was presented at EuroPCR, the annual meeting of the European Association of Percutaneous Cardiovascular Interventions (EAPCI), in Paris. Further, these results were published in EuroIntervention.
What is AMPLATZER Amulet Occlusion Device?
The AMPLATZER Amulet occluder is an advanced, minimally-invasive LAA occlusion device designed to seal off the LAA in people suffering from non-valvular atrial fibrillation in a time-efficient manner. This device blocks the LAA at its opening and reduces the chance of blood clots reaching the bloodstream and causing strokes.
The AMPLATZER Amulet device comes in several sizes to cater to several types of complex patient anatomies. Moreover, it is claimed to be used on patients for whom blood-thinner medication is not a very safe option or is contraindicated.
Notably, the AMPLATZER Amulet device is currently an investigational device in the United States.
Study in Details
The AMPLATZER Amulet Observational Post-Market Study had 1,088 non-valvular AF patients enrolled worldwide. The Amulet device was effectively implanted in 99% of the enrolled patients with a follow-up period through 24 months post-device implant for assessment.
Notably, the results through one-year follow-up demonstrate that treatment through AMPLATZER Amulet had lowered the risk for ischemic stroke by 57% and also reduced the chance of ischemic stroke, transient ischemic attack or systemic embolism by 60%.
A Glimpse of the Structural Heart Business
The Structural Heart business has maintained an impressive top-line performance. In the last reported quarter, sales at the segment rose 14.5% on a reported basis.
Notably, the Structural Heart business accounted for 10.7% of total revenues under the broader Medical Device segment. The upside was led by continued double-digit growth of MitraClip — the company’s market-leading device for the repair of MR. The company recently announced encouraging results from a global study of its Tendyne Transcatheter Mitral Valve Replacement (TMVR) system. In March, the company announced the receipt of national reimbursement in Japan for the same. Notably, in nearly 50 countries, more than 50,000 people have been treated with MitraClip. Ministry of Health Labour and Welfare (MHLW) approved the MitraClip System in Japan last November.
Further, the company announced the receipt of FDA approval for the world’s smallest rotatable, bileaflet mechanical heart valve — Masters HP 15mm. With the approval, the company has expanded the Masters Series portfolio under Structural Heart.
Abbott’s strategy to gain traction in the Structural Heart segment seems to be aligned with data provided by Allied Market Research and the company. Per the report, the global atrial fibrillation market is estimated to reach a worth of $8,319 million by 2022, at a CAGR of 13% from 2014 to 2022. Per the company, almost 33.5 million people suffer from atrial fibrillation globally.
Share Price Performance
Abbott has been gaining investor confidence on consistently positive results. Over the past six months, the stock has outperformed the industry. The stock has gained 11.3%, in comparison with the industry’s 7%.
Zacks Rank & Stocks to Consider
Abbott currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical sector are Intuitive Surgical (ISRG - Free Report) , Illumina, Inc (ILMN - Free Report) and Amedisys, Inc. (AMED - Free Report) . While Intuitive Surgical and Illumina sport a Zacks Rank #1 (Strong Buy), Amedisys carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Intuitive Surgical has an expected long-term earnings growth rate of 12.1%.
Illumina expects long-term earnings growth of 20%.
Amedisys has an expected long-term earnings growth rate of 17.5%.
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