Covidien Launches HALO90 ULTRA - Analyst Blog


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International medical technology major Covidien plc ( COV ) recently launched the HALO90 ULTRA Ablation Catheter in the U.S. and Europe. It is used for treating Barrett's esophagus, a precancerous condition caused by gastroesophageal reflux disease ("GERD"). It is also used to treat a disease known as 'watermelon stomach', characterized by chronic bleeding.

The HALO90 ULTRA has an electrode attached to the end of an endoscope, which is used to gently remove the infected tissues and aid the growth of new, healthy tissues. The new HALO90 ULTRA is longer than the original HALO90 focal instrument, takes less time to treat the ablation and also covers twice the area per energy utilization compared to the earlier version.

The newly-launched product is the latest addition to the HALO family of catheters, which Covidien added to its portfolio through the acquisition of California-based privately-held BARRX Medical for roughly $325 million. The device can be used on its own or along with the HALO90, HALO60 and the HALO360 Ablation Catheters.

BARRX MedicaL manufactures devices (ablation catheters/systems) for treating gastrointestinal diseases and Barrett's esophagus syndrome. Its devices (marketed under the HALO moniker) use bipolar radiofrequency waves and provide uniform and controlled ablation that removes the diseased tissue and stimulates regeneration of normal cells.

Covidien is a leading global health care products company with a rich history of developing high-quality products in a cost-effective manner. It competes with Johnson & Johnson ( JNJ ), Becton Dickinson ( BDX ) and C.R. Bard ( BCR ), among others.

Covidien remains committed to rolling out new products and technologies, focusing on the emerging markets, and boosting market share in core segments through investments in sales and marketing infrastructure. However, sustained pricing/procedure volume pressure represents a headwind.

We are currently Neutral on Covidien, backed by a short-term Zacks #3 Rank (Hold).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Business , Stocks
Referenced Stocks: BCR , BDX , COV , JNJ

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