Billion Dollar U.S. Medical Device Sector Should Continue To Thrive
Palm Beach, FL – (February 5, 2019) – Most know the phrase, “The Business of America is Business”, although that is not exactly what Calvin Coolidge actually said, it has aptly described the role of the United States in world commerce since World War II. What Coolidge actually said was: “the chief business of the American people is business.” And today we can morph that to the business of the American businesses is innovation and medical technology is an area where U.S. companies are at the forefront. A recent FORBES article says this about the size of the medical device market and the importance of innovators: “A disruptive market of $410 billion until 2023, changes dramatically with the entrance of small and medium size players, many of them rising up from the startup community.” An industry publication reports that: “The medical technology industry (commonly referred to as medical devices) consists of articles, instruments, apparatuses, or machines that are used in the prevention, diagnosis or treatment of illness or disease, or for detecting, measuring, restoring, correcting, or modifying the structure or function of the body for some health purpose. Active healthcare stocks in news today include: BioSig Technologies, Inc. (NASDAQ:BSGM), Medtronic plc (NYSE:MDT), Cardinal Health (NYSE:CAH), Abbott Laboratories (NYSE:ABT), Johnson & Johnson (NYSE:JNJ).
A strong example of thriving opportunity in the medical devices sector was illustrated in a recent article that echoes the importance of innovation: “ The Global Electrophysiology Market is expected to exceed more than $8.5 Billion by 2024 at a CAGR of 10.6%” and pinpoints a particular market niche that is showing rapid growth. “Electrophysiology is the branch of science which manages the investigation of electric movement in the human body… The development of the worldwide Electrophysiology market is driven by a few elements, the most essential of which is the technological advancements. Advancement of new devices are foreseen to fuel demand in the market.”
BioSig Technologies, Inc. (NASDAQ:BSGM) BREAKING NEWS – BioSig Technologies, a medical device company developing a proprietary biomedical signal processing platform designed to address an unmet technology need for the $4.6 billion electrophysiology (EP) marketplace, today announced that the Company has appointed Mr. John Kowalski as Vice-President of Sales.
Mr. Kowalski brings to the Company over 30 years of experience in medical device sales, including over 20 years at Biosense Webster, a Johnson & Johnson company. Most recently, he served as Northeast Area Director, a role, in which he was responsible for leading six high-performing cardiac electrophysiology catheter and equipment market sales teams, consisting of 140 sales and clinical support employees. Mr. Kowalski was responsible for $175M disposables and system sales and has consistently exceeded area sales objectives. Having led U.S. strategic planning teams in his previous roles, Mr. Kowalski brings to BioSig proven track record in identifying key business growth opportunities within the cardiac electrophysiology market.
Mr. Kowalski is a holder of numerous Biosense Webster leadership awards, including a record 18-year Founders Club Award, and several “Area and Region of the Year” awards.
“John impressed us with his outstanding leadership skills and unparalleled knowledge of cardiac electrophysiology industry. Given John’s impressive accomplishments as a sales leader, we are confident that he is perfectly positioned to lead targeted market launch and grow our commercial capabilities for our innovative technology,” stated Mr. Kenneth Londoner, Chairman & CEO of BioSig Technologies, Inc.
“I am excited to lead the commercial launch of the PURE EP(tm) signal acquisition and processing system. I believe this innovative technology will enable improved diagnosis and treatment of cardiac arrhythmias and benefit millions of people who suffer from this debilitating illness,” commented Mr. Kowalski.
The Company announced that it received the 510(k) clearance for its PURE EP(tm) System on August 14, 2018. BioSig announced in November and December 2018 that it signed agreements to commence the first commercial use of the system at Texas Cardiac Arrhythmia Institute in Austin, Texas, and Mayo Clinic. BioSig signed a 10-year collaboration agreement with Mayo Clinic in March 2017 and announced a new research agreement focusing on development of additional advanced features and potential new applications of PURE EP(tm) System on November 13, 2018. Read this and more news for BSGM at: https://financialnewsmedia.com/news-bsgm
In other healthcare industry news of note:
Johnson & Johnson (NYSE: JNJ) recently announced the launch of its TECNIS Eyhance IOL for the treatment of cataracts in Europe. This next-generation monofocal intraocular lens (IOL) allows patients to experience high-quality vision at both intermediate and far distances. This is an important first for the monofocal IOL category, as today most lenses in the monofocal category only correct vision to help patients with cataracts see things at a distance, and thus do not improve the intermediate vision that is required for many important daily tasks.
“With the availability of TECNIS Eyhance IOL in Europe, we are proud to deliver another meaningful solution for patients with cataracts,” said Tom Frinzi, Worldwide President, Surgical, Johnson & Johnson Vision3. “We saw an opportunity to build upon the legacy of the TECNIS® Family of IOLs and the proven design of our 1-piece platform to reimagine what was possible with the standard aspheric monofocal IOL.”
Abbott Laboratories (NYSE: ABT) recently announced financial results for the fourth quarter and full year ended Dec. 31, 2018, and issued financial outlook for 2019. Full-year 2018 worldwide sales of $30.6 billion increased 11.6 percent on a reported basis and 7.3 percent on an organic basis.
In October, Abbott received U.S. FDA approval of its HeartMate 3™ left ventricular assist device as a destination (long-term use) therapy. In January 2019, Abbott announced U.S. FDA approval of its TactiCath™ Contact Force Ablation Catheter, Sensor Enabled™, a new catheter designed to help physicians accurately and effectively treat atrial fibrillation, a form of irregular heartbeat.
Medtronic plc (NYSE: MDT) recently announced the first U.S. patients treated with the Mazor X Stealth(TM) Edition for spine surgery following its recent commercial launch. The Mazor X Stealth Edition offers a fully-integrated procedural solution for surgical planning, workflow, execution and confirmation. The system was first used at Norton Healthcare in Louisville, Ky., and Reston Hospital Center in Reston, Va.
“It is rare that huge sectors of technology such as robotics and navigation merge into a sole platform as found in the Mazor X Stealth Edition. Combined, these may provide more predictable and reliable execution of our procedure workflows,” remarked Jeffrey Gum, M.D., orthopedic spine surgeon at Norton Leatherman Spine. “Computerized surgical planning, 3-D assessment of spine anatomy, robotic guidance and live navigation feedback are designed to provide a higher degree of accuracy throughout the surgical procedure.”
Almeida added, “Our ongoing business transformation will continue throughout 2019 as we prepare to launch new products, pursue high-value capital deployment opportunities and deliver on additional operational excellence initiatives. Our goal remains to drive top quartile performance for all stakeholders in line with our Mission to Save and Sustain Lives.”
Cardinal Health (NYSE:CAH) recently announced that Brian Rice will join the company as executive vice president, chief information officer and customer support services. Rice’s most recent role was senior vice president, chief information officer and global business services for Kellogg Company. In his new role at Cardinal Health, he will report to Mike Kaufmann, CEO of Cardinal Health.
“We are very excited to welcome a professional with Brian’s breadth of global experience to join our team at a time when technology is central to our business success,” said Kaufmann. “Brian’s expertise and achievements in identifying, implementing and running extremely complex, global information technology strategies and processes make him a perfect fit to lead Cardinal Health’s experienced and committed technology and customer services teams.”
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