Hologic (HOLX) Adds New Products to Omni Hysteroscopy Offering
Hologic, Inc. HOLX recently launched an expanded Omni suite, a comprehensive gynecological surgical offering. The expanded Omni suite aims to optimize diagnostic and operative hysteroscopy in Europe, Africa and the Middle East (EMEA).
The expanded offering includes the Omni 30° hysteroscope, Omni Lok cervical seal and Omni 5 French seal. It adds to Hologic’s existing GYN surgical portfolio, including the MyoSure tissue removal system and the Fluent fluid management system.
Per management, the Omni suite of hysteroscopic products was developed based on extensive customer feedback. Expected to become gynecologists’ device of choice for outpatients across EMEA, the Omni 30° hysteroscope reflects the company’s commitment to its customers.
Omni Suite Offering in Detail
The Omni hysteroscope portfolio provides enhanced diagnostic and operative versatility via three interchangeable sheaths with 0° or 30° field of view options. Its working length of 200 millimeters enables the procedure to be tailored according to a patient’s anatomy. This system of interchangeable sheaths allows for "see and treat" applications, even in an outpatient environment, with fewer requirements for sterilization. The Omni hysteroscope, with its premium HD rod lens, is intended to provide an optimal hysteroscopic experience.
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The Omni Lok cervical seal and the Omni 5 French seal cap add to Hologic’s portfolio to help with procedural efficiency. The Omni Lok seal is compatible with MyoSure and Omni hysteroscopes. It minimizes fluid leakage during hysteroscopic procedures by an average of 94% to help maintain uterine distention and improve procedural efficiency in the operating room. Meanwhile, the Omni 5 French Seal Cap reduces leakage and backsplash by more than 75% while utilizing 5 French tools.
Per a report published in MarketsandMarkets, the hysteroscopy instruments market is expected to witness a CAGR of 7.8% by 2022. A surge in female geriatric population, greater incidence of gynecological diseases, growing adoption of minimally-invasive treatments and office hysteroscopy, and several technological advancements are driving the market.
Given the market prospects, Hologic’s expanded Omni suite for diagnostic and operative hysteroscopy holds strategic opportunities.
In July 2021, the company attained CE Mark approval in Europe to use saliva samples with the Aptima SARS-CoV-2 assay. This test is a molecular diagnostic assay that runs on the fully automated Panther system. It can detect the genetic material of the pathogen causing COVID-19. Apart from this, Aptima SARS-CoV-2 assay has received CE Mark for use with nasopharyngeal and nasal swabs as well as other specimen types.
In June 2021, the company announced the receipt of CE Mark for its new Aptima CMV Quant assay in Europe, which quantifies the viral load of human cytomegalovirus (“CMV”). This assay is designed to help diagnose and manage solid-organ transplant patients and hematopoietic stem cell transplant patients. The Aptima CMV Quant assay is an in vitro nucleic acid amplification test that utilizes real-time transcription-mediated amplification technology on the fully automated Panther system. This assay can be used with human plasma and whole blood samples.
Share Price Performance
The stock has underperformed its industry over the past year. It has rallied 10.4% compared with the industry’s growth of 15.8%.
Zacks Rank and Key Picks
Currently, Hologic carries a Zacks Rank #3 (Hold).
A few better-ranked stocks from the Medical-Instruments industry include Semler Scientific Inc. SMLR, Alcon Inc. ALC and IDEXX Laboratories, Inc. IDXX, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Semler Scientific has a long-term earnings growth rate of 25%.
Alcon has a long-term earnings growth rate of 17.7%.
IDEXX has a long-term earnings growth rate of 19.9%.
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