Surgical devices and technology provider Conmed Corporation (CNMD) announced the launch of six new medical products by Conmed Endoscopic Technologies business unit. The enhanced product portfolio will include needles, systems and other surgical devices related to endoscopy.
The contribution of Conmed Endoscopic Technologies business unit to Conmed’s total revenue has been flat over the last few years. However, with a broader product offering, Conmed can capitalize on existing demographic trends to accelerate growth. Management believes that the launch of multiple endoscopic products will deliver complete solutions for actual clinical challenges in the pulmonary and gastrointestinal products market. It reaffirms an undertaking to provide critical advancements for patients suffering from gastrointestinal ailments. The company’s continued commitment to innovate and commercialize its product line emphasizes their focus on growth in the long run.
The diversified product line will include an endoscopic ultrasound needle named ClearView EUS FNA System which allows enhanced observation while permitting physicians to single handedly adjust the sheath and needle pistons. The EUS Systems has the highest sales growth rate in the gastrointestinal market. The company has also launched the BiCap III, an Electrosurgical Unit (ESU) with a reaction time of less than one millisecond. The low reaction time ensures minimum damage to the tissues surrounding the target tissue.
Conmed has also enhanced its well-regarded EnTake gastronomy product line by launching the EnTake PEG. The EnTake PEG is a replacement kit barring the drug lidocaine, thereby offering economical and durable solutions. The company has also enhanced its Optimizer Polyp Trap Line under Polypectomy. The product has multiple chambers and is individually packed to capture polyps in the gastrointestinal tract with high precision and without any cross contamination.
Conmed Endoscopic Technologies also improved its SpiderNet product line with the addition of an enteroscopic version. The net material used in the SpiderNet pouch becomes translucent when wet, allowing for better endoscopic visibility. Another new product launch was the ClearGuard Biopsy Valve, designed to avoid the risk of cross-contamination from bodily fluids.
The company serves the endosurgery and electrosurgery markets and also produces cardiac disposables. The launch of economical and patient-friendly products by Conmed Endoscopic Technologies will enable it to explore further opportunities for growth in the areas of endoscopy and minimally invasive surgery. The company serves a highly competitive market along with larger and technically more proficient companies like Covidien Inc. (COV), Smith & Nephew plc. (SNN) and Stryker Corp. (SYK).
Conmed currently retains a Zacks #3 Rank, which translates into a short-term ‘Hold’ rating. We also maintain our long-term ‘Neutral’ recommendation on the stock.
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