On June 19,
Covidien plc
(
COV
), a global leader in medical devices and services, launched the
world's first knotless suturing device named V-Loc. It is available
as a reload for both laparoscopic and single-incision
procedures.
This marks the latest addition to Covidien's bariatric surgery
portfolio, which aims to improve both patient and surgeon
experience associated with weight loss surgery and similar
procedures. It is expected to enhance surgeon competency during
bariatric and other procedures. V-Loc will be used in multi-port as
well as single-port laparoscopic surgery with the company's Endo
Stitch and SILS Stitch suturing devices.
The V-Loc suturing device is yet another addition to Covidien's
Medical Devices business segment. Medical devices segment comprised
68% of net sales in the most recent quarter with segment revenue
figures showing an increase of 7% year over year to $2,004 million.
New products such as V-Loc and Endo GIA Radial Reload, HALO90 ULTRA
Ablation Catheter, Versaport trocar and others launched earlier
this year, are expected to accelerate segment growth.
The automated needle-passing technology integrated into the
knotless suturing device is a marked improvement over conventional
automated suturing and hand suturing. Bariatric surgery involves a
number of surgical stapling and suturing steps to safeguard the
anastomotic closure.
According to medical experts, laparoscopic suturing without the
need to tie knots is the most important feature of the device. This
is because it reduces the time taken for the most labor-intensive
task of the bariatric surgery. The early use of V-Loc reloads with
the Endo Stitch device resulted in increased surgical
proficiency.
Its unique barb and loop design with Endo Stitch device enables
quicker suturing without the need to tie knots. According to a
clinical study, this saves surgeons time by 35%-42% compared to the
original time required for conventional internal suturing. The
studies further claim that proprietary Endo Stitch suturing device
can save anywhere between 45% and 70% of the laparoscopic suturing
time.
Covidien constantly attempts to improve patient outcomes by
innovating and extending its product portfolio. Management expects
the V-Loc knotless suturing device to increase procedural
efficiency. Its commitment to the technologically progressive
bariatric procedures is reflected in its broad portfolio of
products and services to support bariatric patients as well as
surgeons.
Additionally, the company announced new tools for its
educational program
Shaping a Better Future in Bariatric Surgery
. Covidien has taken the initiative to educate patients and improve
practice management. The educational program reflects Covidien's
commitment and support of bariatric practices by providing
necessary information to patients looking for clinically effective
solutions.
Covidien plans to bolster its sales with the help of strategic
acquisitions and successful launch of new products. It remains
committed to rolling out new products and technologies
consistently. Management expects that a focus on product innovation
and aggressive portfolio management will yield positive results in
the long run.
However, the company faces substantial competition from
Becton, Dickinson and Company
(
BDX
),
Johnson and Johnson
(
JNJ
) and
CR Bard Inc
. (
BCR
) and some smaller players. Also, the success of its new products
relies on consumer demands and preferences.
The stock currently retains a Zacks #3 Rank, which translates
into a short-term Hold rating. This is in agreement with our
long-term Neutral recommendation.
BARD C R INC (BCR): Free Stock Analysis Report
BECTON DICKINSO (BDX): Free Stock Analysis
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COVIDIEN PLC (COV): Free Stock Analysis Report
JOHNSON & JOHNS (JNJ): Free Stock Analysis
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