) announced that it has commercially launched Barrx Channel RFA
Endoscopic Catheter, a new offering from its radiofrequency
ablation (RFA) product line under the GI Solutions business. The
device is used to treat Barrett's esophagus syndrome, a
pre-cancerous condition of the lining of the esophagus (the tube
that carries food from the throat to the stomach) and certain
gastrointestinal bleeding disorders.
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The new device is capable of delivering RFA through the working
channel of an endoscope, thereby eliminating the need for
multiple endoscope introductions and reducing procedure time.
Both the U.S. Food and Drug Administration (FDA) and the European
CE Mark have approved the Barrx Channel RFA Endoscopic Catheter
for sale. It received the CE Mark in March and the U.S. FDA in
July this year and is available for sale in both Europe and the
Covidien acquired Calif.-based privately held Barrx Medical in
Jan 2012 to bolster its presence in the gastrointestinal diseases
therapy space. The new offering from Barrx complements the
company's energy-based product portfolio and is in tandem with
its strategy to invest in products that can offer global
Covidien also offers the HALO ablation catheters from its Barrx
portfolio for the treatment of Barrett's esophagus. This health
care product major had launched the HALO60 ablation catheter and
the HALO90 ULTRA Ablation Catheter in 2012.
In the last reported quarter, revenues from Covidien's Energy
Devices products under the core Medical Device segment climbed 8%
to $355 million on the back of strong double-digit vessel sealing
sales along with contribution from new products like LigaSure
Small Jaw and Sonicision. The business' pipeline is also healthy,
with the recent launches of the next-generation LigaSure Impact
Covidien has a Zacks Rank #3 (Hold). We remain on the sidelines
regarding the future prospect of this company following the
divestment of its Pharmaceuticals unit. While we remain on the
sideline about COV, other medical stocks such as
) are worth considering with a Zacks Rank #1 (Strong Buy).