Leading medical technology manufacturer Medtronic Inc.(MDT) has recently received the CE (Conformité Européene) Mark for its 23 mm CoreValve Evolut R System. This self-expanding valve, along with the 14FR equivalent delivery system, is used in transcatheter aortic valve implantation (TAVI).
Following this news, Medtronic's share price gained 0.6% to eventually close at $64.31 on Friday.
The entire system incorporates the CoreValve Evolut R transcatheter aortic valve and the EnVeo R Delivery Catheter System. It is designed to offer accuracy and anatomic conformity of the new valve at the annulus during first-time positioning. The system also ensures supra-annular valve position for better hemodynamic performance.
The novel CoreValve Evolut R System contains the lowest delivery profile with an in-line sheath that improves access and reduces risk of major vascular complications during TAVI. Its state-of-the-art features provide enhanced valve performance at the time of procedure, while also providing the option to recapture and reposition the valve during deployment phase, if required.
Per management, this advanced valve delivery system promises physicians added procedural confidence and has the capability to represent the future of transcatheter aortic valve replacement.
The 23 mm CoreValve Evolut R transcatheter valve and the CoreValve EnVeo R Delivery Catheter System are now available in Europe and other countries that acknowledge the CE Mark. However, the system is yet to be approved for commercial use in the U.S., where it is currently undergoing clinical trials.
Medtronic presently carries a Zacks Rank #3 (Hold). Better-ranked stocks in the medical products industry include ICU Medical, Inc. (ICUI), Abaxis, Inc. (ABAX) and Conatus Pharmaceuticals Inc. (CNAT). While ICU Medical sports a Zacks Rank #1 (Strong Buy), both Abaxis and Conatus hold a Zacks Rank #2 (Buy).
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