Medtronic plc (MDT - Free Report) recently announced favorable two-year outcomes from the LATERAL clinical trial. It evaluated the use of the company’s HeartWare HVAD System in patients, who received treatment on the system via a less-invasive, thoracotomy implant approach. These results proved to be significant progress for the global major in the field of cardiovascular treatment.
Outcome of the Study in Detail
The HVAD Pump is the world’s smallest, commercially available, full-support, centrifugal Left Ventricular Assist Device (LVAD). Further, it is the only full-support LVAD with clinical evidence highlighting its safety and efficacy when implanted via a less-invasive thoracotomy approach. It helps to increase blood circulation in patients, who are suffering from advanced heart failure.
After two years of follow up, the data highlighted that 95% of patients, who implanted HVAD via thoracotomy, did not face further possibility of incapacitating stroke.
Additionally, there were a few other positive outcomes of this study. For instance, a review of adverse events occurring in the LATERAL trial proved that such events were more likely to occur during the first 30 days after the implant, with a significant decline in bleeding, arrhythmia and stroke. The overall rate of adverse events significantly lessened one to six months after the implant. Further, the risk of stroke after the implant was minimal.
Per Allied Market Research, the global ventricular assist devices (VAD) market reached a worth of $809 million in 2016 and is anticipated to reach $1.77 billion, witnessing a CAGR of 11.8% from 2017- 2023. Hence, outcomes of the LATERAL study have been released at a suitable time.
Lately, Medtronic has been witnessing positive outcomes from several of its clinical trials. These are expected to strengthen its cardiac care portfolio.
In April 2019, the company announced favorable outcome of an analysis on the impact of stroke severity in patients receiving treatment on its HeartWare HVAD System as destination therapy. Results demonstrated that targeted blood pressure management helped to curb the possibility of strokes.
Around the same time, the company revealed data, showing promising economic outcomes for the Medtronic HeartWare HVAD System, after conducting multiple clinical studies.The analysis showed that patients, who suffered from heart failure and received the HVAD System through a less-invasive thoracotomy procedure in the LATERAL study, incurred lower hospitalization and medical supply costs than those who received a ventricular assist device (VAD) through the traditional sternotomy implant procedure.
In the past year, the Medtronic stock has gained 12.8% compared with the industry’s 7.3% growth.
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 Teleflex Inc. (TFX - Free Report) , Penumbra (PEN - Free Report) and Bruker Corporation (BRKR - Free Report) . While Penumbra currently sports a Zacks Rank #1 (Strong Buy), the other two carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Teleflex’s long-term earnings growth rate is expected to be 13.7%.
Penumbra’s long-term earnings growth rate is projected at 21.5%.
Bruker’s long-term earnings growth rate is estimated at 12.6%.
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