Medical technology developer Integra LifeSciences Holdings Corporation (IART) recently reported the full commercial release of the Integra Freedom Wrist Arthroplasty System in the U.S. This system has been designed to treat patients who suffer from wrist arthritis.
Initially after the news release, Integra's share price rose 0.5%. However, the launch failed to sustain this positive price momentum, with shares eventually dropping 0.6% to close at $49.97 yesterday.
This unique Arthroplasty System constitutes an advanced implant design coupled with upgraded equipment that can potentially promote effective and reproducible surgical outcome. Per management, the unique design helps physicians offer a better treatment option for active patients suffering from advanced wrist arthritis.
So far, the Freedom Wrist System has been successfully implanted as part of a limited release in 21 patients over summer. With a better bone-fixation design and an advanced anatomic feature, the product relieves patients from acute pain while preserving desired wrist motion.
Integra plans to exhibit the Integra Freedom Wrist Arthroplasty System at the 69th Annual Meeting of the American Society for Surgery of the Hand (ASSH) in Boston.
Notably, in the last reported quarter, Integra delivered high single-digit growth of 8% in its U.S. extremities business and expects this segment to be a key long-term growth driver at the company. Integra also experienced a rise in its R&D expense on account of the funds allocated to clinical work and product development in the Extremities business. This sheds light on management's strategy to expand its product portfolio in this business, even further.
The release of the Freedom Wrist System has bolstered the company's upper extremity product portfolio and it is thus reasonable to expect that it will eventually aid Integra's growth in the extremity reconstruction market.
Currently Integra carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the Med-Biomed/Generic industry include Cambrex Corporation (CBM), Cyclacel Pharmaceuticals, Inc. (CYCC) and Gilead Sciences Inc. (GILD). All these stocks sport a Zacks Rank #1 (Strong Buy).
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