Lab-accurate blood chemistry analysis in real time will now be
available in Canada thanks to
) which won Class III approval from Health Canada for its Piccolo
Xpress and Piccolo Reagent Discs point-of-care blood analysis
Piccolo Blood Chemistry Analyzers allow healthcare providers
to perform routine multi-chemistry panels using 0.1cc of whole
blood, serum or plasma. This blood analysis system uses patented
reagent discs that contain up to 15 chemistry tests. These
reagent discs are innovatively designed to handle almost all
technical steps of blood chemistry testing automatically.
Moreover, the Piccolo Blood Chemistry Analyzer lines are
available in a non-lab setting and promise delivery of results in
less than 12 minutes, thus helping expedite the treatment
We believe Abaxis' Piccolo Chemistry Analyzers should enhance
the quality of healthcare services offered in Canada. By virtue
of lab-accurate blood chemistry results delivered on-site within
a few minutes, healthcare professionals will be able to take
adequately informed decisions in a time- and cost-effective
manner. On the whole, we are confident about the efficacy of
Piccolo Xpress and expect the recent approval to seamlessly
strengthen Abaxis' foothold in the point-of-care diagnostics
market in Canada. This is significant as according to the latest
report by MarketsandMarkets, the global point-of-care diagnostics
market is expected to scale $27.5 billion by 2018, at a
compounded annual growth rate (CAGR) of 9.3% from 2013 through
The Piccolo Chemistry Analyzers fall under the Medical
Products segment of Abaxis which contributed 16.3% to the
company's total revenues in the first nine months of fiscal
Quite recently, Abaxis gained the status of being the only
company that provides a capillary or venous Clinical Laboratory
Improvement Amendments (CLIA)-waived Lipid and Liver panel
capable of monitoring statin medications at the point-of-care.
These recent positive developments have the potential to
accelerate Abaxis' core revenue growth organically.
However, Abaxis currently holds a Zacks Rank #4 (Sell).
Some better-ranked stocks that warrant a look in the broader
healthcare sector are
St. Jude Medical Inc.
). Enzymotec sports a Zacks Rank #1 (Strong Buy) while St. Jude
Medical and Covidien carry a Zacks Rank #2 (Buy).
ABAXIS INC (ABAX): Free Stock Analysis Report
COVIDIEN PLC (COV): Free Stock Analysis
ENZYMOTEC LTD (ENZY): Free Stock Analysis
ST JUDE MEDICAL (STJ): Free Stock Analysis
To read this article on Zacks.com click here.