), a large-cap healthcare products company, has announced the
five-year results of the ClosureFAST Long-Term European
Multi-Center Study. The study revealed that the company's
ClosureFAST device was successful in treating Chronic Venous
Insufficiency (CVI) in the long-term.
CVI is a progressive medical condition where the veins in the
lower limbs do not function normally, which leads to the
formation of varicose veins. If left untreated, it might lead to
severe conditions such as lower leg pain, skin damage and leg
ulcerations. According to the Society for Vascular Surgery and
the American Venous Forum, this is a very common disease
affecting over 30 million Americans in the U.S. alone.
The multi-center study enrolled 225 patients ailing from
superficial venous reflux and was conducted across 8 clinics in
Europe. The five-year study observed the effects of the minimally
invasive Venefit endovascular therapy to treat CVI, using the
company's ClosureFAST radiofrequency ablation catheter.
Long-term data from the ClosureFAST study demonstrated that
the Venefit procedure, using the ClosureFAST device, was
successful in treating patients with CVI. The positive data will
likely boost the vascular products portfolio under the Medical
Devices segment and reinforce Covidien's leading position in
providing innovative vascular solutions.
Neurovascular offerings from the Vascular business are
significantly contributing to top-line growth, as evidenced by
the year-over-year increase of 4% in the last reported quarter.
We expect the favorable results of the pivotal study to influence
clinicians' decision-making and enhance procedural outcome.
However, Covidien's larger Medical Device unit overlaps the
business of its competitors like
Johnson & Johnson
Becton, Dickinson and Company
CR Bard Inc.
Covidien, with a market-cap of $27.45 billion, is a leading
global health care products company with an impressive history of
developing and manufacturing high-quality products in a
cost-effective manner. The company has a well diversified product
and technology portfolio.
We currently have a long-term Neutral recommendation on the
stock, which carries a short-term Zacks #3 Rank (Hold).
BARD C R INC (BCR): Free Stock Analysis
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COVIDIEN PLC (COV): Free Stock Analysis
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