The poll of 30 cardiologists – representing about 10% of the total U.S. TAVI market for 2013, the analysts wrote – suggests that the Irvine, Calif.-based medical device company is set for "solid mid-teens" sales growth over the next 12 months.
"While not entirely representative of the total market, the survey pointed to promising U.S. market trends including: (1) steady patient per center per week growth expected; (2) still-strong Sapien U.S. market share even with new competition; and (3) high-volume TAVR centers continue to come on line. Overall, this survey leaves us more comfortable with our current ~50% ’13-’14 U.S. TAVR market growth projections – driven by both the recent high risk/Cohort A approval and new centers coming on line – but also suggest that EW’s future growth trajectory and U.S. market share potential remain strong despite the recent 3Q:12 sales miss," wrote analysts Danielle Antalffy and Robert Marcus.
"The survey suggests that Sapien will continue to hold the majority of the market, even after potential FDA approval of competitor Medtronic‘s (NYSE:MDT) CoreValve – possible in mid-2014. This will be true especially in lower-volume centers; in the survey, these centers expect Sapien to hold more than 80% market share. In the survey, the 77% Edwards’ share 12 months post-CoreValve approval is in line with our TAVR market model which places ’15 Edwards’ share at 75%."
Alcon picks up SensoMotoric’s eye tracking unit
Alcon acquired the ophthalmic division of SensoMotoric Instruments, bringing SMI’s ocular surgical guidance technology under its wing for an undisclosed amount. The Swiss medical device company plans to integrate the unit into its global cataract portfolio, according to a press release. For its part, SMI said it plans to focus on gaze-based interaction and eye-tracking applications in other medical areas.
Allied Minds, GWU ink pact for LuxCath spinout
The George Washington University and investment firm Allied Minds are launching LuxCath LLC, a medical device company that’s developing real-time coronary lesion visualization technology.
California HealthCare Foundation sends $1.5M iRhythm’s way
iRhythm Technologies followed up a $4 million funding round with a $1.5 million investment from the California HealthCare Foundation for its Zio Patch ambulatory cardiac rhythm monitor.
- Becton Dickinson & Co. (NYSE:BDX): Stifel Nicolaus initiates coverage with “hold” rating.
- BioMimetic Therapeutics (NSDQ:BMTI): Loewen Ondaatje McCutcheon reiterates "buy" rating, $7.50 price target.
- C.R. Bard (NYSE:BCR): Stifel Nicolaus initiates coverage with "hold" rating; Brean Capital initiates coverage with "hold" rating.
- Edwards Lifesciences (NYSE:EW): Stifel Nicolaus initiates coverage with "buy" rating.
- Medtronic (NYSE:MDT): Stifel Nicolaus initiates coverage with "hold" rating; Wunderlich restated "buy" rating, $46 price target.
- Wright Medical (NSDQ:WMGI): Leerink Swann maintains "market perform" rating, lowers price target to ~$22 from ~$23.