Greatbatch (NYSE:GB) this week filed a pre-market approval application with the FDA for its spinal cord neuromodulation system.
The neuromodulation system comes from the Frisco, Texas-based company’s subsidiary, QiG Group, which hopes to win indication to treat chronic pain of the trunk and limbs.
This FDA bid is a part of the company’s “strategic evolution of its product offerings to include the development of complete medical device systems in order to raise the growth and profitability” of the company, Greatbatch said in a regulatory filing.
That’s more good news for Greatbatch, which performed well in the 3rd quarter, exceeding Wall Street expectations. Greatbatch posted profits of $11 million, or 44¢ per share, on sales of $167.7 million for the 3 months ended Sept. 27. Greatbatch posted losses of $7.6 million during the same period last year; the most recent quarter represents a 4.0% top-line gain.