), a global developer and manufacturer of intravascular robotics,
recently announced the expansion of its intellectual property
portfolio on the back of 30 additional patents in the U.S. since
January 2011. The company also shares the rights to more than 250
issued U.S. patents associated with medical robotics via licensing
with third parties.
Many of these additional patents bestow further coverage and
exclusionary rights for Hansen Medical's Magellan Robotic System.
It received the 510(k) clearance from the U.S. Food and Drug
Association (FDA) for the system on June 4, 2012. Management
believes that Magellan Robotic Systems has a latent quality, in
that it can be a major growth driver for the company.
The Magellan Robotic System has the potential to revolutionize
peripheral vascular intervention because of improved lesion access,
precise control over distal tip, solid catheter stability and
procedural efficiency. Hansen Medical has already initiated a
commercial launch for the system in the European Union, where it
received the CE Mark in July 2011. Additionally, the system has
been approved in Australia, while it is pending approval in
Certain patents also improve the coverage for Hansen Medical's
Sensei X Robotic Catheter System. According to the company,
Magellan Robotic Systems along with Sensei X Robotic Catheter
System is expected to catalyze its top-line.
In an industry where companies constantly undergo fluid
innovation and technological advancement, patent protection is an
increasingly urgent issue. Hansen Medical continues to enhance its
intellectual property portfolio, helped by stimulating research and
The robotic systems have a unique selling proposition for
hospitals as it offers quality patient care while improving
organizational efficiency. However, unsuccessful commercialization
and a low adoption rate for the robotic systems are matters of
concern. In the end, the financial results of Hansen Medical depend
on the operating efficiency and successful commercialization of its
The company faces a tough competitive landscape with large cap
market players like
Boston Scientific Corporation
Johnson and Johnson
) and others like
) in the U.S. But the 30 additional U.S. patents will keep direct
competition at bay.
Hansen Medical holds a Zacks #3 Rank, which translates into a
short-term Hold rating.
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