Abbott Laboratories (NYSE:ABT) is on the verge of launching its new insertable cardiac monitor (ICM). The world’s first Smartphone-compatible device will come along with Abbott’s $25 billion acquisition of St. Jude Medical. Its design enables physicians to remotely diagnose arrhythmias and in return be able to advise their patients on the need for therapy.
It is very difficult to detect cardiac arrhythmias in the present day. However, the new Confirm Rx ICM is designed with the need for continuous monitoring of a patient’s heart rhythm in mind. The device proactively transmits data to the myMerlin app, and this facilitates follow-up of patient’s diagnosis by their physicians.
The establishment of a new paradigm
Traditional remote monitoring is cumbersome according to Abbott because it requires the use of bulky equipment, which more often has limited mobility. Hence, the company’s new establishment of connectivity of cardiac devices is of the essence and convenient because the devices in use are not as bulky.
There is a lot to achieve with the new paradigm according to Mark Carlson, Abbott Chief Medical Officer, who outlines, “The Confirm Rx ICM addresses a broad range of indications, such as syncope, palpitations and atrial fibrillation.” Besides, the technology has high levels of privacy, which will ensure the safety of patients’ data.
A small device but very convenient for both patients and providers
The device, which is now available for both patients and providers is not complicated in its use given that it requires just a simple insertion procedure. It is useful to both patients and healthcare providers because the former can simply insertion procedure while the latter will use if for follow up. The fact that it complies with remote monitoring allows clinic staff to reduce the follow-up burden.
Patients easily stay connected to their physician; thanks to the availability of over 35 languages in the myMerlin mobile app. They can also confirm whether or not their data was transmitted to their physician through automatic alerts. Nonetheless, the device is still user scrutiny by the U.S. Food and Drug Administration with an expectation to have full European release within the second quarter of 2017.
In the meantime, Abbott’s stock closed at $44.68 witnessing an increase of $0.04 or 0.09%.