22 September 2021 | Wednesday | Analysis
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Therefore, owing to increasing patient pool, the demand for efficient imaging devices is projected to increase rapidly. Moreover, rising expenditure on cardiac health coupled with investment in development of advanced systems will stimulate the market growth through 2027. Adoption of intracardiac echocardiography (ICE) catheters assists the electrophysiologist by capturing images within the heart. Intravascular ultrasound (IVUS) is a medical imaging technique that use designed catheter with an ultrasound probe attached to the catheter at distal end. ICE and IVUS modalities help in better visualization of coronary structure, thereby offering better outcomes and treatment planning. Increasing preference for minimally invasive surgeries such as peripheral vascular interventions, and transcatheter procedures will augment the market expansion. Further, technological advancements in ICE and IVUS devices coupled with rise in adoption of these devices for several cardiac procedures is expected to influence the industry growth. Players operating in market are involved in development of technologically advanced devices. Active healthcare and tech stocks in news today include: BioSig Technologies, Inc. (NASDAQ: BSGM), Medtronic plc (NYSE: MDT), Boston Scientific Corporation (NYSE: BSX), Johnson & Johnson (NYSE: JNJ), Abbott (NYSE: ABT).
A report from Global Market Insights said that the market valuation of intracardiac echocardiography and intravascular ultrasound will cross $1 billion by 2027. Development of image-based therapeutic treatment coupled with enhanced image quality delivered by intracardiac modalities will boost the overall market demand. The report said: "Growing prevalence of cardiovascular disorders (CVDs) globally is anticipated to substantially increase in the upcoming years. Hypertension, smoking, alcohol consumption, and consumption of high-carbohydrate food is further impacting the risk of CVDs. Therefore, owing to increasing patient pool, the demand for efficient imaging devices is projected to increase rapidly."
BioSig Technologies, Inc. (NASDAQ: BSGM) BREAKING NEWS - BioSig Technologies, Inc. Appoints Medical Device Industry Leader to its Board of Directors - James J. Barry, Ph.D. will join as an Independent Director as Company expands clinical footprint with its signal processing technology for arrhythmia care - BioSig Technologies, a medical technology company commercializing an innovative signal processing platform designed to improve signal fidelity and uncover the full range of ECG and intra-cardiac signals, today announced the appointment of James J. Barry, Ph.D. as an Independent Director to its Board of Directors.
Dr. Barry has more than 30 years of experience in the medical device industry as an executive and corporate board director. He is currently the Principal Owner at Convergent Biomedical Group LLC., a company providing advisory services to the life sciences industry. Prior to Convergent, Dr. Barry was President and CEO at InspireMD, Inc. (Nasdaq: NSPR) and platform technology company, Arsenal Medical. Dr. Barry spent the majority of his career at Boston Scientific (NYSE: BSX) with increasing roles of responsibility culminating as Sr. Vice President of Corporate Technology. While at Boston Scientific, Dr. Barry led the development and launch of the TAXUS drug-eluting coronary stent that achieved annual sales exceeding $3 billion.
Dr. Barry is the author of multiple peer-reviewed publications and holds more than 40 U.S. and international patents. He holds a Ph.D. in Biochemistry from the University of Massachusetts-Lowell and a B.A. in Chemistry from St. Anselm College.
"I have always viewed the electrophysiology field as a tremendous opportunity given the burden heart rhythm disorders have on the healthcare system. It is a space that can benefit greatly from innovation, and I am impressed with the PURE EP™ system which appears to be a meaningful advance in signal detection and should have a positive impact on procedure time and cost. I look forward to working with the BioSig Board and the management team to leverage my experience and executive leadership to deliver on the strategic expansion of the PURE EP™ system and the company's many pipeline opportunities," commented Dr. Barry.
"Jim's accomplishments in the medical device sector are second-to-none, and we are thrilled that he can join us as our new Independent Director. Our mission is to empower physicians to make better procedural decisions through more advanced technological solutions, and Jim's industry expertise is perfectly aligned with our passion for innovation. We look forward to learning from Jim as we continue to expand our commercial roll-out," commented Kenneth L. Londoner, Chairman, and CEO of BioSig Technologies, Inc.
The PURE EP™ is an FDA 510(k) cleared non-invasive class II device that aims to drive procedural efficiency and efficacy in cardiac electrophysiology. To date, over 60 physicians have completed over 1300 patient cases with the PURE EP™ System across twelve clinical sites. CONTINUED… Read this full press release for BSGM by visiting: https://www.financialnewsmedia.com/news-bsgm/
In other medical device news of note:
Boston Scientific Corporation (NYSE: BSX) recently announced an agreement to acquire Devoro Medical, Inc., developer of the WOLF Thrombectomy® Platform. The innovative non-console and lytic-free WOLF technology targets and rapidly captures blood clots using finger-like prongs that retrieve and remove thrombi in the arterial and venous systems.
"The addition of the WOLF platform advances our efforts to ensure physicians have the right tools to improve procedural efficiencies," said Jeff Mirviss, executive vice president and president, Peripheral Interventions, Boston Scientific. "Clot management remains a core focus of our business, and upon commercialization, this highly differentiated technology will complement and expand our offerings to a full suite of interventional strategies for thromboemboli, which also includes the EkoSonic™ Endovascular System (EKOS) and the AngioJet™ Thrombectomy System."
Johnson & Johnson (NYSE: JNJ) recently announced that Mr. Alex Gorsky, currently Chairman and Chief Executive Officer, will serve as Executive Chairman of Johnson & Johnson and transition the Chief Executive Officer role to Mr. Joaquin Duato, currently Vice Chairman of the Company's Executive Committee, effective January 3, 2022. Following the transition of the Chief Executive Officer role, Mr. Duato will also be appointed as a member of the Company's Board of Directors.
"It has been an honor and privilege to lead this company as Chairman and CEO for nearly a decade, and I am pleased to serve as Executive Chairman to help oversee Johnson & Johnson's ongoing progress improving the health of people and communities everywhere," said Mr. Gorsky. "Over the course of my 30-year career at Johnson & Johnson, guided by Our Credo, I have witnessed the profound impact of the Company's evolution and expansion of life-enhancing medicines. The past decade alone has been transformational for Johnson & Johnson as we dramatically increased investment in R&D, drove some of the most important global advances in healthcare, made significant strategic shifts across the business and delivered record performance. Most of all, I am humbled to lead our talented and dedicated team of 136,000 associates around the world, and I am immensely proud of how we have upheld the Company's 134-year legacy of delivering solutions to address the world's most urgent, unmet healthcare needs. The decision to step aside was one of the most difficult of my career. This is the right time for the Company as our organization is delivering strong performance across all three segments and is positioned for continued success, in addition to this being the right time for me personally as I focus more on my family due to family health reasons."
Abbott (NYSE: ABT) recently announced that the U.S. Food and Drug Administration (FDA) has approved the company's Portico™ with FlexNav™ transcatheter aortic valve replacement (TAVR) system to treat people with symptomatic, severe aortic stenosis who are at high or extreme risk for open-heart surgery. With this latest TAVR (also referred to as TAVI, or transcatheter aortic valve implantation) advancement, Abbott continues to offer the industry's leading portfolio of structural heart solutions that include innovative, minimally invasive therapies to repair or replace diseased or damaged heart valves or close openings in the heart.
Aortic stenosis is one of the most common and life-threatening heart valve diseases. It occurs when the aortic valve's opening narrows and restricts blood flow from the left ventricle to the aorta.1 Patients with the disease can experience breathlessness, chest pressure or tightness, fainting, palpitations, fatigue, and heart murmurs. The condition can ultimately lead to heart failure.2 While many people don't have noticeable symptoms, more than one in eight aged 75 and older has moderate or severe aortic stenosis, which reduces the heart's pumping ability.3 Prior to TAVR, the standard of care for severe aortic stenosis was surgical aortic valve replacement, but not all patients were candidates for open-heart surgery.
Medtronic plc (NYSE:MDT), the global leader in medical technology, recently announced it has won three additional important victories in a dispute over its intellectual property (IP) for its sacral neuromodulation device family, the InterStim™ systems. The Patent Trial and Appeal Board (PTAB) of the U.S. Patent and Trademark Office rejected Axonics' (AXNX) attempt to invalidate three Medtronic patents in its IP infringement lawsuit.
Significantly, this victory is in addition to the PTAB's affirmation of Medtronic's U.S. Patent No. 9,463,324 ('324 patent) in September 2020, which protects key technology related to implant recharging and temperature control. As soon as the PTAB completes its review of the remaining three challenged patents (U.S. Patent Nos. 8,457,758, 8,738,148, and 9,821,112), due within days, the company will return its attention to the infringement lawsuit against Axonics and request that the U.S. District Court in the Central District of California lift the stay and resume proceedings.