Medtronic PLC (NYSE:MDT) is expanding, thanks to the reimbursement approval and launch of its CoreValve Evolut R System. The system, which has been implanted in more than 120,000 patients around the world, gained its approval in Japan in March 2015. It is the first self-expanding TAVI (transcatheter aortic valve implantation) in the country to get such an endorsement and it is used to treat patients who are at intermediate risk for open-heart surgery.
Given the patient population in Europe, director of the Structural Heart Program at University Hospital in Bonn, Germany, Prof. Eberhard Grube says, “The highly-anticipated intermediate risk indication marks an important milestone for the industry as we look to safely expand TAVI access to younger and less sick patient populations.”
Approval stems from global commitment to innovation
Today’s world is all about growth, innovation, and expansion. Grube says that the Evolut R System’s ability to recapture and reposition the heart valve that improves positioning accuracy and control is one of the many advances in the industry. It will play a vital role in the growth of the transcatheter space. According to the general manager and vice president of the heart valve therapies business, Rhonda Robb, the system is the first of its kind, which demonstrates competency of benefits that new patient populations will get. Robb also outlines their commitment to supporting global heart teams through advanced training and education facilities.
Addition of key products by Medtronic for potential growth
Being one of the major industry players, Medtronic has also been focusing on its diabetes portfolio in recent years. Its aim is to accelerate the growth of its market share. For this purpose, the company has not only added key products to its portfolio through acquisitions but it has also set the pace of various launches. One of the additions is that of the Minimed 640G insulin pump to its diabetes range. It has also received an approval of the Minimed 670G, which is the world’s first approved hybrid closed-loop (or HCL) insulin delivery system.
Medtronic’s diabetes segment is the company’s fastest-growing segment and continues to gain several approvals. This may have occasioned its current partnership with Fitbit Inc (NYSE:FIT), which will necessitate the creation and integration of diabetes care platforms for type 2 diabetes patients.
The company, which employs more than 85,000 people worldwide, is now striving to continue offering the broadest range of innovative medical technology to healthcare consumers and providers around the world. Meanwhile, Medtronic’s stock closed at $71.95 witnessing an increase of $0.21 or 0.29%.
