Medtronic Inc. (NYSE:MDT) won CE Mark approval for a peripheral nerve stimulation device for treating chronic back pain.
The Minneapolis, Minn.-based medical device goliath said the implantable device will fit into its neurostimulation business, which operates out of the company’s restorative therapies division. That unit was responsible for about $5.42 billion in sales during the nine-month period ended Jan. 28.
Peripheral nerve stimulation using a fully implantable system is not available in the U.S., according to Medtronic.
The PNS device uses percutaneous leads to send electrical pulses to the peripheral nerves within the subcutaneous tissue in the lower back area, using Medtronic’s existing implantable neurostimulation systems, the company said.
Medtronic is already a heavy player in the pain management market with its Restore line of neurostimulation devices, which compete with similar devices made by rival Boston Scientific Corp. (NYSE:BSX). Medtronic also offers a line of neuromodulation devices to treat incontinence.
The company’s neuromodulation business has pulled in just under $1.16 billion so far in 2011, essentially flat compared to the same period last year, according to regulatory filings.