Incoming Boston Scientific CEO Michael Mahoney details the med-tech titan's 2012-2013 development and regulatory approval timelines for its up-and-coming business regions, including for its newly acquired Cameron Health subcutaneous implantable defibrillators and its bronchial thermoplasty business.
During a conference held in Marlborough, Mass., today, incoming CEO Michael Mahoney – currently listed as president – detailed the outlook for 7 of the company's up-and-coming divisions, including for the newly acquired Cameron Health subcutaneous ICD and the highly competitive renal denervation market.
Mahoney described the timeline as a "high-level strategy of gaining share in our core business, expanding globally, moving into some smart adjacencies that are growing quickly that leveraging our strength, and also cost productivity."
Alair asthma treatment - 20 countries and 200 sites by the end of the year
Boston Scientific's Alair bronchial thermoplasty system, which provides relief for patients with persistent asthma, was the star of today's presentation.
The Alair system already has CE Mark approval in the European Union and FDA approval for the U.S. (since March), and Mahoney predicted that the worldwide market for bronchial thermoplasty will hit $1 billion by 2020.
The Alair system delivers precise thermal energy to lung tissue via bronchoscope to reduce excessively smooth muscle, decreasing the airways' ability to constrict.
The procedure won reimbursement from the Centers for Medicare & Medicaid Services at the start of this year.
Here's a look at some of the top Wall Street stories for medical device companies this week.
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