Covidien (NYSE:COV) hailed the launch of its Halo60 ablation catheter, the latest addition to its portfolio of catheters for treating Barrett’s esophagus.
Barrett’s esophagus is a precancerous condition in the lining of the windpipe, which can lead to chronic injury and inflammation from the backward flow of stomach contents.
The Halo60 device delivers minimally invasive radiofrequency ablation to the affected area to remove diseased tissue and spur re-growth of new, healthy tissue, according to a press release.
Covidien acquired the Halo line, plus radiofrequency generators and multiple catheters, when it agreed to acquire Sunnyvale, Calif.-based device maker Barrx Medical Inc. for $325 million in November.
The Halo60 is on the market in the U.S., Canada, Australia and some European countries, according to the release. Covidien expects to broaden that footprint this year.
That’s more good news for the Mansfield, Mass.-based med-tech titan, which recently posted a record-breaking 1st quarter and upped its guidance for 2012. The company also touted record adjusted gross margins of 58.8% for the 3 months ended Dec. 24, 2011, 1.2 points higher than during the same period in 2010.
COV shares got a modest bump on The Street today, closing 1.3% higher at $51.49.