Medical device major Medtronic plc (MDT) recently presented positive results from an observational study, which evaluated the efficacy of its Reveal LINQ Insertable Cardiac Monitor (ICM) in detecting atrial fibrillation (AF). The trial results were disclosed this week at the American Stroke Association's International Stroke Conference 2015.
This latest real-world study was aimed to determine whether long term, constant cardiac monitoring using Medtronic's smallest ICM can detect presence of AF in them.
A total of 1,247 patients suffering from cryptogenic stroke across the U.S. were examined. Evidently post 182 days of monitoring, the AF detection rate in the real world study was 12.2%, 37% higher compared to the rate observed in the CRYSTAL AF trial for the same time frame. The outcome indicated that the Reveal LINQ ICM can detect AF over a long run at a much higher rate than that observed in the already published rigorously-controlled CRYSTAL AF trial.
Per results from another study, which were also presented at the aforementioned conference, Medtronic revealed for the first time that long term, constant cardiac monitoring can help identify AF in cryptogenic stroke patients at a lower cost.
Evidently, the incremental cost-effectiveness ratio (ICER) associated with the utilization of Medtronic's Reveal XT ICM came well within the cost-effectiveness range supported by the United Kingdom's National Institute of Clinical Excellence (NICE), as against the conventional standard-of-care.
The twin trials thus uphold cardiac monitoring as superior to standard monitoring methods in the detection of AF (as per the CRYSTAL AF study), while also highlighting its efficiency and cost-effectiveness over other standard procedures.
AF is a common cardiac condition that involves abnormal heart rhythm in a patient. An AF patient is 5 times more prone to suffer from ischemic stroke. As per modern databases, each year almost 692,000 Americans experience ischemic stroke, out of which 20–40% experience cryptogenic stroke.
Given the fact that in most cases AF goes undiagnosed due to the lack of physical symptoms, we expect that the positive study results stated hereby will ramp up demand for Medtronic's FDA-approved wireless Reveal LINQ ICM System, which is also the smallest cardiac monitor available so far.
As per the company's last reported financial results, Medtronic's Reveal LINQ monitor has been witnessing significant revenue growth which exceeded management's expectation. We believe the trial results will perk up demand and enhance the traction already gained from this device, in turn, accentuating the company's top line.
Currently, the stock holds a Zacks Rank #2 (Buy). Some medical products stocks worth considering instead over the short term are Abaxis, Inc. (ABAX), Cardiovascular Systems Inc. (CSII) and Phibro Animal Health Corp. (PAHC). All three stocks sport a Zacks Rank #1 (Strong Buy).
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