The Future Is Now; Med Tech That’s Changing Lives
POINT ROBERTS, Wash. and DELTA, British Columbia, Feb. 21, 2019 (GLOBE NEWSWIRE) -- Investorideas.com, a leading investor news resource covering medical technology and healthcare stocks releases a snapshot looking at the rapid advancements happening in the med tech sector and how many of these “far off” projects are now on the verge of reality.
According to IDTechEx “The market for bioelectronic medicine will exceed $60 billion by 2029.” They explain Bioelectronic medicine, or electroceuticals, is the use of electrical stimulation to treat diseases of the human body in ways that current pharmaceutical interventions cannot.
BioSig Technologies, Inc. (NASDAQ: BSGM), a medical device company developing a proprietary biomedical signal processing platform designed to address an unmet technology need for the electrophysiology (EP) marketplace, recently announced that the Company successfully conducted the first patient cases using PURE EP™ System, its FDA approved proprietary signal acquisition and processing technology. The first commercial use of the System was completed at the Texas Cardiac Arrhythmia Institute (“TCAI”) in Austin, TX.
“With the use of the PURE EP™ System, I was able to identify cardiac signals which were previously undetectable to me. I believe that the PURE EP™ System could change diagnostic and treatment strategies of arrhythmias, leading to more successful outcomes,” commented Dr. Andrea Natale, who conducted the studies.
The PURE EP™ System was used during standard studies on patients with persistent atrial fibrillation and conducted in parallel with Abbott’s EnSite Precision™ and Biosense Webster’s (Johnson & Johnson) CARTO™ cardiac mapping systems. The goal of the first commercial use of the technology was aimed at validating the System’s key value proposition elements and report on the overall user experience during the procedure.
Kenneth L. Londoner, Chairman and CEO of BioSig Technologies stated, “We are well positioned to deliver on our strategic goals for 2019 and look forward to the expansion of our evaluation efforts in the coming months.”
The BioSig Technologies system will sell for $250,000 each, in addition to a $100,000 software license.
Nuvectra Corporation (NASDAQ: NVTR), a medical device company dedicated to neuromodulation, recently announced that the US Food and Drug Administration (FDA) has advised that its review of the Company’s pre-market approval (PMA) application for its Virtis Sacral Neuromodulation (SNM) system has been extended beyond the expiration of the FDA’s 180-day review period.
This small delay for the company will most likely be overshadowed by the release of its financial results for the fourth quarter and full year ended December 31, 2018 on Thursday, February 28, 2019 after market close.
Boston Scientific Corporation (NYSE: BSX) has reported their results for Q4 and the full year of 2018, in which they generated sales of $2.561 billion during Q4, representing growth of 6.3 percent on a reported basis, 8.2 percent on an operational basis and 7.0 percent on an organic basis, all compared to the prior year period.
For the full year 2018, the company generated sales of $9.823 billion, which represents growth of 8.6 percent on a reported basis, 8.0 percent on an operational basis and 7.2 percent on an organic basis, all compared to the prior year period.
Commenting on their earnings, Chairman and CEO Mike Mahoney said, "Meaningful innovation and focused execution helped us deliver strong financial results in 2018. We remain driven by the opportunity to help more patients with our life-changing technologies, including a robust long-term pipeline of new devices and therapies."
iRhythm Technologies, Inc. (NASDAQ: IRTC) technology combines wearable biosensor devices worn for up to 14 days and cloud-based data analytics with powerful proprietary algorithms that distill data from millions of heartbeats into clinically actionable information. The company believes improvements in arrhythmia detection and characterization have the potential to change clinical management of patients.
Rhythm just reported financial results for the three months and full year ended December 31, 2018.
Companies with innovative products now being approved, tested, and brought to market are not only showing great financial growth for their shareholders but are also changing lives and adding new depths to the medical community. These innovations in medical technology are showing us that the future of healthcare is already here.
For investors following the sector; a directory of biotech and medical technology stocks.
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Released February 21, 2019