Abiomed, Inc. (ABMD) revealed that physicians across the U.S. have implanted more than 15,000 Impella pumps in patients needing hemodynamic support. Mercy General Hospital in Sacramento, CA is the place where the 15,000th Impella procedure took place with an Impella pump that provided prophylactic circulatory support.
Currently, Impella 2.5 is the Smallest Heart Pump in the world. It is a widely used and studied percutaneous circulatory support device.
Abiomed also revealed that its higher flow Impella CP device has also been implanted in more than 1,000 patients globally. The device got the 510(k) clearance from the Food & Drug Administration (FDA) in Sep last year. The 1,000th Impella CP procedure took place at the Ochsner Medical Center in New Orleans, LA.
The Impella CP is very useful in treating patients who need percutaneously deployed hemodynamic support device. It is a vital device in the cardiology toolbox that can be used at ease.
ABMD is also in the process of developing Impella pediatric device. The device will be helpful in treating infants and children with heart failure. However, the device has not yet received clearance from the FDA.
Abiomed is a leading provider of heart support technologies. Its Impella platform consists of minimally invasive products with flow levels that vary with device size depending on the patient's need for hemodynamic support.
About 775 hospitals in the U.S. have acquired Impella products, with over 2,000 implanting physicians. Moreover, 66 new hospitals adopted the latest Impella CP, with 172 customer sites in the U.S.
Abiomed, a Zacks Rank #3 (Hold) stock, reported fiscal 2013-first-quarter earnings per share of 5 cents (excluding legal expenses and the medical device excise tax) that missed the Zacks Consensus Estimate by a penny. The quarterly EPS was lower than the year-ago earnings of 8 cents.
Revenues in the quarter grew 10% year over year to $42.7 million, in line with the Zacks Consensus Estimate. This marked the 15th straight quarter in which Abiomed recorded year-over-year double-digit growth. The improvement was led by solid sales of the Impella heart pumps and patient utilization of the Impella device in the quarter.
Globally, Impella revenues rose 12% to $38.7 million in the quarter. U.S. Impella revenues grew 7% to $35.4 million. ABMD opened 27 new U.S. sites for Impella 2.5 in the quarter.
ABMD reiterated it revenue guidance for fiscal 2014. Management forecasts revenues to grow 14%–17% to $180–$185 million for the year. Global Impella sales are expected to increase by 20%.
Currently, other medical stocks that are performing well include Thoratec Corp. (THOR) and Cyberonics (CYBX), both with a Zacks Rank #1 (Strong Buy), and IDEXX Laboratories, Inc. (IDXX) with a Zacks Rank #2 (Buy).
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