Surgical devices and technology provider
) announced the launch of six new medical products by Conmed
Endoscopic Technologies business unit. The enhanced product
portfolio will include needles, systems and other surgical devices
related to endoscopy.
The contribution of Conmed Endoscopic Technologies business unit
to Conmed's total revenue has been flat over the last few years.
However, with a broader product offering, Conmed can capitalize on
existing demographic trends to accelerate growth. Management
believes that the launch of multiple endoscopic products will
deliver complete solutions for actual clinical challenges in the
pulmonary and gastrointestinal products market. It reaffirms an
undertaking to provide critical advancements for patients suffering
from gastrointestinal ailments. The company's continued commitment
to innovate and commercialize its product line emphasizes their
focus on growth in the long run.
The diversified product line will include an endoscopic
ultrasound needle named ClearView EUS FNA System which allows
enhanced observation while permitting physicians to single handedly
adjust the sheath and needle pistons. The EUS Systems has the
highest sales growth rate in the gastrointestinal market. The
company has also launched the BiCap III, an Electrosurgical Unit
(ESU) with a reaction time of less than one millisecond. The low
reaction time ensures minimum damage to the tissues surrounding the
Conmed has also enhanced its well-regarded EnTake gastronomy
product line by launching the EnTake PEG. The EnTake PEG is a
replacement kit barring the drug lidocaine, thereby offering
economical and durable solutions. The company has also enhanced its
Optimizer Polyp Trap Line under Polypectomy. The product has
multiple chambers and is individually packed to capture polyps in
the gastrointestinal tract with high precision and without any
Conmed Endoscopic Technologies also improved its SpiderNet
product line with the addition of an enteroscopic version. The net
material used in the SpiderNet pouch becomes translucent when wet,
allowing for better endoscopic visibility. Another new product
launch was the ClearGuard Biopsy Valve, designed to avoid the risk
of cross-contamination from bodily fluids.
The company serves the endosurgery and electrosurgery markets
and also produces cardiac disposables. The launch of economical and
patient-friendly products by Conmed Endoscopic Technologies will
enable it to explore further opportunities for growth in the areas
of endoscopy and minimally invasive surgery. The company serves a
highly competitive market along with larger and technically more
proficient companies like
Smith & Nephew plc.
Conmed currently retains a Zacks #3 Rank, which translates into
a short-term 'Hold' rating. We also maintain our long-term
'Neutral' recommendation on the stock.
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