Johnson & Johnson subsidiary Cordis Corp. wins European CE Mark approval for its Renlane renal denervation system for treating patients with resistant hypertension.
Medtronic posts a 3rd-quarter decline in profits on a $200 million writedown of its renal denervation assets and narrows its earnings outlook for the rest of fiscal 2014.
Medtronic (NYSE:MDT) saw its fiscal 3rd-quarter profits slide nearly 23% after it took a more than $200 million writedown on the renal denervation assets it acquired along with Ardian in 2010 and tightened its earnings outlook for the rest of fiscal 2014.
The recent chill in renal denervation hasn't slowed down ReCor Medical, which plans to charge forward with its ultrasound-based Paradise system for treatment of hypertension.
Analysts warn that medtech companies may become increasingly cautious toward "risky" bets after Medtronic's near billion-dollar gamble on renal denervation was derailed by a flopped clinical trial.
MASSDEVICE ON CALL — Medtech titan Medtronic (NYSE:MDT) took a risk when it bet nearly $1 billion on renal denervation pioneer Ardian years before its flagship device was slated to hit the U.S. market, and the recent foofaraw over the company's missed clinical trial may have a cooling effect on other device companies, analysts warned.
Covidien said it's pulling the plug on its OneShot renal denervation device, citing the slow development of the hypertension market.
Covidien (NYSE:COV) said it plans to wind down its OneShot renal denervation program, largely due to "slower than expected development of the renal denervation market," meaning the end for a U.S. clinical trial of the high blood pressure device.
Cardiologist Dr. Darrel Francis finds himself attempting once again to drag the conversation back from the edge of hyperbole as the market reacts to the lackluster outcome of Medtronic's highly anticipated Symplicity HTN-3 trial of renal denervation in treatment of hypertension.