• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Advertise
  • Subscribe

MassDevice

The Medical Device Business Journal — Medical Device News & Articles | MassDevice

  • Latest News
  • Technologies
    • Artificial Intelligence (AI)
    • Cardiovascular
    • Orthopedics
    • Neurological
    • Diabetes
    • Surgical Robotics
  • Business & Finance
    • Wall Street Beat
    • Earnings Reports
    • Funding Roundup
    • Mergers & Acquisitions
    • Initial Public Offering (IPO)
    • Legal News
    • Personnel Moves
    • Medtech 100 Stock Index
  • Regulatory & Compliance
    • Food & Drug Administration (FDA)
    • Recalls
    • 510(k)
    • Pre-Market Approval (PMA)
    • MDSAP
    • Clinical Trials
  • Special Content
    • Special Reports
    • In-Depth Coverage
    • DeviceTalks
  • Podcasts
    • MassDevice Fast Five
    • DeviceTalks Weekly
    • OEM Talks
      • AbbottTalks
      • Boston ScientificTalks
      • DeviceTalks AI
      • IntuitiveTalks
      • MedtechWOMEN Talks
      • MedtronicTalks
      • Neuro Innovation Talks
      • Ortho Innovation Talks
      • Structural Heart Talks
      • StrykerTalks
  • Resources
    • About MassDevice
    • DeviceTalks
    • Newsletter Signup
    • Leadership in Medtech
    • Manufacturers & Suppliers Search
    • MedTech100 Index
    • Videos
    • Webinars
    • Whitepapers
    • Voices
Home » Abiomed gains after Abbott tables HeartMate PHP program

Abiomed gains after Abbott tables HeartMate PHP program

February 7, 2017 By Brad Perriello

Abbott's HeartMate PHP cardiac assist device

UPDATED Feb. 9, 2017, with details on Abbott’s letter to physicians.

Abiomed (NSDQ:ABMD) shares closed up more than 5% yesterday as investors reacted to reports that Abbott (NYSE:ABT) paused its HeartMate PHP program in Europe.

Abbott, which acquired the Thoratec line of HeartMate cardiac assist devices when it paid $25 billion for St. Jude Medical (NYSE:STJ) last month, advised physicians Feb. 6 that it’s temporarily halting its Shield II clinical trial for the HeartMate PHP pump due to an issue with its catheter.

Abbott said it “temporarily paused the HeartMate PHP Shield II IDE clinical trial as well as shipment and implantation of the device for commercial, clinical and investigative use in Europe while conducting a Field Safety Corrective Action for the HeartMate PHP catheter” in a Feb 6 letter to physicians.

“This step is being taken as a precaution due to reports of a small number of clinical events associated with pump stoppage during support of high-risk percutaneous coronary intervention (PCI) patients in both clinical and commercial uses. To date, Abbott has received reports of eight (8) motor stoppage events worldwide, representing 1.9% of devices shipped. Of the eight (8) devices, one (1) stoppage caused hemodynamic instability requiring emergency intervention and one (1) resulted in death associated with sepsis several days after the intervention. The remaining pump stoppage reports were not associated with an adverse event,” Abbott wrote.

Abbott did not specify when the HeartMate PHP program might resume, saying only that it’s investigating the issue and will re-start once corrective actions are in place.

The delay extends the lead for Abiomed and its competing line of Impella pumps, prompting investors to push ABMD shares up 5.3% to a $110.50-per-share close yesterday.

“As the only real percutaneous temporary support device on the market today, ABMD seems well-positioned to retain its monopoly for at least the next year or two now, in our view, if not longer,” Leerink Parters analyst Danielle Antalffy wrote in a note to investors.

ABT shares closed down -0.8% to $42.43 apiece yesterday and slid a further -1.6% to $41.76 per share in pre-market trading today.

Filed Under: Clinical Trials, Structural Heart, Wall Street Beat Tagged With: Abbott, Abiomed

More recent news

  • Neuralink files to raise $649M in new equity offering
  • BofA: Surgical robot remanufacturing not a major setback for Intuitive
  • InspireMD wins CE Mark approval for CGuard Prime
  • Philips reports first cases for VeriSight Pro 3D ICE catheter in Europe
  • Ceryx Medical raises $15M to support bioelectronic pacemaker

Primary Sidebar

“md
EXPAND YOUR KNOWLEDGE AND STAY CONNECTED
Get the latest med device regulatory, business and technology news.

DeviceTalks Weekly

See More >

MEDTECH 100 Stock INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.
MDO ad

Footer

MASSDEVICE MEDICAL NETWORK

DeviceTalks
Drug Delivery Business News
Medical Design & Outsourcing
Medical Tubing + Extrusion
Drug Discovery & Development
Pharmaceutical Processing World
MedTech 100 Index
R&D World
Medical Design Sourcing

DeviceTalks Webinars, Podcasts, & Discussions

Attend our Monthly Webinars
Listen to our Weekly Podcasts
Join our DeviceTalks Tuesdays Discussion

MASSDEVICE

Subscribe to MassDevice E-Newsletter
Advertise with us
About
Contact us

Copyright © 2025 · WTWH Media LLC and its licensors. All rights reserved.
The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of WTWH Media.

Privacy Policy