Category: Cardiac Assist Devices
Abiomed shares hit a 52-week high yesterday as it announces new data from a study of its flagship Impella heart pump in treating complex cases.
Abiomed (NSDQ:ABMD) shares hit $20.25 apiece yesterday, their highest mark in 52 weeks, as the company touted more positive study results for its flagship Impella heart pump.
ABMD shares closed yesterday at $20.14, up 6.2 percent on a day of widespread gains on Wall Street. The Dow Jones Industrial Average gained 4.2 percent yesterday, the S&P 500 closed up 4.3 percent and the Dow Jones medical device index rose 4.8 percent.
Abiomed Inc. announces Symphony, its synchronized implantable heart pump to treat chronic heart failure patients.
Corrected Nov. 15, 10:15 a.m. to reflect that the Protect II study compared the Impella pump to intra-aortic balloon pump therapy, not to shock therapy.
Abiomed Inc. (NSDQ:ABMD) unveiled Symphony, its new implantable heart pump for the treatment of patients with chronic moderate heart failure.
Symphony is designed as a low cost alternative for New York Heart Association Class III patients who respond poorly to standard treatments. The Danvers, Mass.-based company's implanted cardiac device is the first designed for heart recovery and remodeling.
North Carolina's Division of Medical Assistance approves Medicaid coverage for Zoll's LifeVest wearable cardioverter defibrillator, giving ZOLL shares an 8 percent bump.
Zoll Medical Corp.'s (NSDQ:ZOLL) LifeVest, the only wearable cardiac defibrillator on the market in the U.S., won a favorable policy decision from North Carolina's Medicaid office.
The decision makes LifeVest reimbursable by North Carolina Medicaid for ischemic and non-ischemic patients who are at risk of sudden cardiac death and who aren't good candidates for implanted devices.
Abiomed turns in its first profitable quarter, posting income of $601,000, sending share prices up 16 percent.
Shares of Abiomed (NSDQ:ABMD) surged nearly 17 percent this morning on Wall Street after the heart pump maker reported its first profitable quarter.
ABMD shares were trading at $16.86 as of about 11 a.m. today as investors reacted to the company's swing to black ink.
Abiomed posted profits of $601,000, or 2 cents per share, on sales of $29.5 million for the three months ended Sept. 30 – a top-line boost of some 26 percent, compared with losses of $3.2 million, or 9 cents per share, on sales of $23.4 million during the same period last year.
HeartWare International reports a 54 percent increase in third-quarter sales, but says losses widened 78 percent; and CFO David McIntyre steps down to return to his home Down Under.
HeartWare International (NSDQ:HTWR) posted record revenues of $21.3 million during the third quarter, up 54.4 percent, but saw losses gap wider by a whopping 78 percent.
The Framingham, Mass.-based medical device maker also said CFO David McIntyre is stepping down to move back to Australia to rejoin family.
HeartWare posted a net loss of $14.0 million, or $1.00 per share, for the three months ended Sept. 30. That compares with losses of $7.8 million, or 57 cents per share, on sales of $13.8 million during the same period last year.
Angel investment in new companies rose during the first half of 2011, according to the University of New Hampshire's Center for Venture Research, even as early-stage venture capital funding declined, as reported by Dow Jones LP Source; also, HeartWare slides, Thoratec gains; KCI details Apax financing; EDAP's Q3 prelims predict top-line boost; analysts downgrade Natus Medical on missed guidance; and Sanuwave surges on trial results.
Venture capital investment is on the wane, but angel investment is increasing, according to a pair of recent reports.
The University of New Hampshire's Center for Venture Research reports that angel investment rose nearly 5 percent during the first and second quarters, to $8.9 billion, compared with the same period last year. Health care and medical device firms took the lion's share of the angel cash (25 percent, according to the report), which usually comes from the proverbial "high net worth individuals" or in early-stage funding rounds.
By Westby G. Fisher, MD, FACC
She was only 12 years old when her sudden cardiac arrest was captured on a school security camera. Thankfully, she was saved by the quick actions of a few teachers and the school's automatic external defibrillator: