Medtronic plc (MDT - Free Report) recently announced the launch of the Telescope guide extension catheter, which will provide backup support and access to distal lesions. This marks the med-tech major’s foray into the guide extension catheter market.
Details About the Catheter
The design of the Telescope guide extension catheter ensures smooth delivery of interventional devices in the most challenging coronary cases. The catheter enables physicians to access complex lesions with top-notch deliverability. The guide extension technology has enhanced the ability to deliver devices to the distal coronary vasculature, particularly in cases where traditional guide support is restricted.
According to Medtronic, once the Telescope is positioned near the target lesion, SmoothPass technology helps to channel stents, balloons, and other interventional devices into place with ease.
Prior to this launch, in order to experience better market acceptance of the product, the company has collaborated with more than 700 interventional cardiologists to ensure Telescope was addressing unmet needs in complex Percutaneous Coronary Intervention.
Per Research and Markets, the global micro guide catheters market is estimated to see a CAGR of 8.75% during the 2017-2021 period. Hence the launch of this catheter is well-timed.
In the past few years, Medtronic has added several new products to its Cardiac and Vascular portfolio.
In May 2017, Medtronic announced the FDA clearance and U.S. launch of the Resolute Onyx Drug-Eluting Stent (DES). The Resolute Onyx DES builds on the verified clinical performance and enhanced deliverability of the Resolute Integrity DES. The CSH division of the company has been consistently seeing growth in the United States on strong adoption of the Resolute Onyx drug-eluting stent.
Apart from this, a few products within the coronary portfolio of the med-tech major are Euphora line of pre- and post-dilatation balloon catheters, the DxTerity(TM) TRA Diagnostic Catheter, Launcher Guide Catheter, all of which are commercially available in the United States as well as Europe.
Over the past year, Medtronic’s stock has outperformed the industry it belongs to. The stock has rallied 2.8% compared with the industry’s rise of 0.5%.
Zacks Rank and Stocks to Consider
Medtronic currently carries a Zacks Rank #3 (Hold). A few better-ranked stocks in the broader medical space are Masimo Corporation (MASI - Free Report) , CONMED (CNMD - Free Report) , DENTSPLY SIRONA (XRAY - Free Report) , each currently carrying a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Masimo’s long-term earnings growth rate is projected at 16.1%
CONMED’s long-term earnings growth rate is expected at 13.3%.
DENTSPLY SIRONA’s long-term earnings growth rate is predicted at 11.5%.
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