Medical device companies: These 15 performed the best in 2017

[Image from Unsplash]

Updated Jan. 5, 2018

Among the most successful medical device companies of 2017, there were two themes: innovation and breadth of services.

That was the major takeaway of an MDO analysis of the stock performance of the 100 largest publicly traded medtech companies in the world.

What does innovation mean? Think Align Technologies (Nasdaq:ALGN) and how it brought 3D printing to bear on a dental product screaming for better customization: braces. Or there’s Abiomed (Nasdaq:ABMD) and its tiny Impella heart pump, which is meant to help restore blood flow and allow the heart to rest after a heart attack.

For breadth of services, look no farther than Integer (NYSE: ITGR). Created out of the 2015 merger of Greatbatch and Lake Region Medical, Integer is a giant medical device contract manufacturer that could theoretically do almost anything for an OEM.

Most – about four-fifths – of the world’s 100 largest medical device companies saw their stock price increase this year. But Align, Abiomed, Integer and other top companies enjoyed an especially exceptional performance.

Here are the 15 best-performing medical device stocks of 2017, ranked by their stock growth percentage.

Next>>

And click here to download a performance spreadsheet of the 100 stocks>>

The post Medical device companies: These 15 performed the best in 2017 appeared first on MassDevice.

Maquet opens a new front in patent war with Abiomed

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Abiomed, MaquetGetinge (PINK:GETI B) subsidiary Maquet opened a new front last week in its patent war with Abiomed (NSDQ:ABMD), alleging infringement of a patent granted earlier this year.

Danvers, Mass.-based Abiomed sued Maquet in May 2016, asking Judge Dennis Saylor of the U.S. District Court for Massachusetts for a judgment of non-infringement of a trio of patents; counter-suits later brought the number of disputed patents to six.

Last week Maquet added the latest piece of intellectual property to the case, alleging that Abiomed infringes U.S. patent no. 9,597,437, covering a  “Guidable Intravascular Blood Pump and Related Methods.” Maquet alleged that Abiomed’s Impella 2.5, the Impella 5.0, and the Impella CP infringe at least two claims of the patent, which was granted March 21, according to court documents.

Abiomed asked the patent office for a quartet of inter partes reviews of the ‘437 patent, according to the documents, but the Patent Trial & Appeals Board denied two of the petitions Oct. 18.

Maquet is seeking judgments of basic, induced, contributory and willful infringement, plus preliminary and permanent injunctions barring further alleged infringement, basic and triple willfulness damages and royalties. The company also wants Saylor to force Abiomed to cover its legal costs and to grant pre- and post-judgment interest, according to a Nov. 20 court filing.

Medtronic wins FDA nod for Azure remote monitoring equipped pacers

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Medtronic logoMedtronic (NYSE:MDT) said today it won FDA approval for its portfolio of Azure pacemakers with BlueSync patient monitoring technology.

The clearances cover both the Azure XT MRI and Azure S MRI pacers including single chamber and dual chamber models, the Fridley, Minn.-based company said. The newly cleared pacers have estimated lifespans of 13.7 years for dual chamber pacers, which Medtronic estimates is 27% longer than the earlier-gen devices.

The Azure portfolio of pacers feature the company’s BlueSynch technology which allows for automatic remote monitoring through the company’s CareLink network, and its Azure XT device features the Reactive ATP algorithm intended to slow the progression of atrial fibrillation.

“With the approval of Azure, clinicians managing patients with bradycardia now have pacemakers with improved longevity, and better ability to detect and reduce atrial fibrillation. BlueSync technology with Azure also enables secure and automatic wireless data transmission to clinicians. Remote monitoring with automatic data transmissions can result in earlier clinical decisions and improved patient monitoring compliance,” cardiac rhythm & heart failure division prez Dr. John Liddicoat said in a press release.

Medtronic said that in connection with the approval, its Percepta line of cardiac resynchronization therapy pacers now include BlueSync tech for remote monitoring through the CareLink network.

Earlier this month, Medtronic released its preliminary second quarter earnings, estimating the impact of Hurricane Maria at approximately $55 to $65 million, or 3¢ on its second quarter non-GAAP earnings per share.

Physio-Control recalls Cardinal Health-made pediatric AED electrodes

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Physio-Control, Cardinal Health

Physio-Control said today it launched a voluntary recall of pediatric defibrillation electrodes, made by Cardinal Health (NYSE:CAH), which are components in a number of the company’s Lifepak automated external defibrillators over issues with incorrect art that could lead to misuse.

Redmond, Wash.-based Physio-Control said that artwork on the recalled defibrillation electrodes shows incorrect electrode placement for an infant that could lead to ineffective energy delivery to the patient and serious injury or death.

The recall affects approximately 14,200 electrodes used with the company’s Lifepak Express AED, Lifepak CR Plus AED, Lifepak 1000 defibrillator and Lifepak 500 Biphasic AEDs with pink connectors. Adult defibrillation leads were not affected by the recall, according to a press release.

Physio-Control said it is reaching out to customers to inform them of the issue and is providing correct instructions to be used with the affected AEDs until corrected electrodes are distributed. The company said that if customers decide not to use the electrodes, they can “consider the use of adult defibrillation electrodes until they receive their replacement set of infant/child defibrillation electrodes.”

The company advised customers to report any malfunctions or adverse events to it and the FDA.

In April, Physio-Control won a $28.3 million contract with the US Dept. of Defense for “medical equipment, maintenance of medical equipment, and/or spare parts for medical equipment.”

CorInnova raises $6m for EpicHeart soft robotic heart failure treatment

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CorInnovaCorInnova said today that it raised $6.1 million from Wellcome Trust for the EpicHeart device it’s developing to treat heart failure.

Houston-based CorInnova said EpicHeart is a direct cardiac compression device that uses a collapsible, thin-film, pneumatically actuated soft robotic device to surround both ventricles of the heart. It’s designed to use air to inflate and increase cardiac output by gently squeezing the heart.

Founded to commercialize technology developed at Texas A&M University’s Cardiac Mechanics Laboratory by Dr. John Criscione, CorInnova is backed by a group of private investors, the National Heart Lung Blood Institute and National Science Foundation, the Texas Emerging Technology Fund and now the Wellcome Fund, a charitable foundation. CorInnova is also a resident at Johnson & Johnson Innovation, JLABS @ TMC, a life science incubator in Houston.

“Our EpicHeart technology is innovative and groundbreaking. We believe it will lead to a new paradigm for heart failure treatment,” CEO William Altman said in prepared remarks. “We are honored to have our work recognized by the Wellcome Trust. We are further honored to have been chosen by JLABS as one of a limited number of companies to be invited to join its life sciences incubator. Due to its minimally invasive nature and its potential for reduced adverse events from blood contact, CorInnova’s non-blood-contacting soft robotic cardiac assist device could potentially triple or quadruple the number of heart failure patients who could be eligible for such a life-saving device therapy.”

“Wellcome is pleased to support the development of this innovative technology for the treatment of congestive heart failure,” added Dr. Philip Jordan of Wellcome’s Innovations team. “Congestive heart failure is a chronic condition that affects roughly six million people in the US alone and is a leading cause of death and disability. A significantly less-invasive medical device that could restore a certain level of heart function would be potentially transformative for patients.”

Last month CorInnova won a $50,000 award at the annual Pediatric Device Innovation Symposium.

“We are pleased that the compelling advantages of CorInnova’s technology for heart failure treatment in adults is equally compelling for treatment for children,” product development VP Boris Leschinsky said.

FDA: Philips HeartStart MRx recall is Class I

Philips

The FDA today classified a Royal Philips (NYSE:PHG) recall of its HeartStart MRx monitor/defibrillator over electrical issues as Class I.

A Class 1 indication from the federal watchdog indicates “a reasonable probability that use of these products will cause serious adverse health consequences or death,” according to the agency.

The HeartStart MRx monitor/defibrillator is designed to deliver lifesaving electrical shocks to people with sudden cardiac arrest or to pace individuals with a slow heart beat, according to the FDA.

Electrodes on the unit are attached to the patient and then connected to the device to help it analyze the patient’s heart rhythm and deliver electrical shots to restore a normal heart rhythm.

The company is recalling the units due to electrical and battery connection issues which could prevent the device from powering up, charging and delivering electrical shock therapy, and could stop corrective pacing. The FDA said that a delay in delivery such therapy could result in serious patient injury.

The recall affects approximately 47,362 units across the US with model numbers M3535A (M3535ATZ) M3536A (M3536ATZ), M3536M, M3536MC, M3536M2, M3536M4, M3536M5, M3536M6, M3536M7, M3536M8 and M3536M9, manufactured between Feb. 11, 2004 and Nov. 4, 2016 and distributed between Feb. 12, 2004 and Nov. 4, 2016.

Philips began notifying customers of the issue in Feb., according to the FDA.