Medical device major Medtronic Inc. (MDT) recently commenced the PERIGON (PERIcardial SurGical AOrtic Valve ReplacemeNt) Pivotal Trial to evaluate the safety and efficacy of its new bioprosthetic aortic heart valve. This surgical heart valve is currently available in the U.S. only for investigational purposes.
This prospective PERIGON trial refers to a non-randomized, interventional, multi-center study that aims at estimating the effectiveness of Medtronic's new aortic valve, made from bovine pericardial tissue, when used to replace a damaged or malfunctioning native or prosthetic heart valve. Under this study, a total of 650 patients will be implanted with this particular aortic valve at maximum of 40 sites in Europe, the U.S. and Canada.
Lately, at the ProMedica Toledo Hospital in Toledo, OH, the first U.S. patient was successfully implanted with this next generation heart valve. Apart from substituting a damaged aortic valve, this latest offering from Medtronic allows for future transcatheter aortic valve-in-valve interventions in patients. Further, this new valve provides a more effortless implantation procedure, which, in turn, should largely benefit patient outcomes over the long run.
Per its last reported quarterly results, Medtronic's structural heart business expanded in the upper teens owing to exceptional performance delivered by its transcatheter valves. Given that management still expects the global transcatheter aortic valve replacement (TAVR) market to grow around 30%, we can reasonably expect this next generation valve to boost Medtronic's elevated position in this market further, in the days ahead.
Currently, Medtronic carries a Zacks Rank #3 (Hold). Better-ranked stocks in the medical products industry include GW Pharmaceuticals plc (GWPH), ZELTIQ Aesthetics, Inc. (ZLTQ) and Abaxis, Inc. (ABAX). While GW Pharmaceuticals and ZELTIQ Aesthetics sport a Zacks Rank #1 (Strong Buy), Abaxis holds a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
To read this article on Zacks.com click here.
Get all Zacks Research Reports and be alerted to fast-breaking buy and sell opportunities every trading day.
Be the first to comment