PALM BEACH, Florida, October 19, 2017 /PRNewswire/ --
The medical device sector continues to expand and grow as a result of physicians making the formative decision whether you need medicine or a medical device such as a pacemaker, an implantable cardioverter defibrillator (ICD), cardiac ablation or surgery, which in return is fueling growth in the medical device and electrophysiology industry. The electrophysiology market is booming evidenced by the growing prevalence of cardiac disorders especially cardiac arrhythmias. The diagnostic electrophysiology devices segment is thought to be valued at nearly a billion dollars alone. The rapid increase in the prevalence of cardiovascular diseases, urological, neurovascular diseases is strongly driving the market demand whereas the global catheters market was valued at $31.1 billion in 2016 and is anticipated to reach over $63.5 billion by 2024 according to Ameri Research Inc. Active healthcare industry companies in news today include: BioSig Technologies, Inc. (OTC: BSGM), Johnson & Johnson (NYSE: JNJ), Abbott Laboratories (NYSE: ABT), Merck & Co. Inc. (NYSE: MRK), Boston Scientific Corporation (NYSE: BSX).
BioSig Technologies, Inc. (OTCQB: BSGM), a medical device company developing a proprietary platform designed to address an unmet technology need within the emerging electrophysiology (EP) marketplace, announced today that they have made significant progress towards commercialization of their proprietary PURE EP System. The PURE EP System is a novel cardiac signal acquisition and display system which is engineered to assist electrophysiologists in clinical decision making during procedures to diagnose and treat patients with abnormal heart rates and rhythms.
The Company recently received the first production units of the PURE EP System from its manufacturing partner. In addition to ongoing testing and development with current partners, BioSig has been demonstrating this system to select industry leaders. Additionally, they announced that Mr. Joseph W. Rafferty has joined BioSig Technologies and will serve as Chief Commercialization Officer. Joe adds more than 30 years of experience to BioSig and has assisted with the successful launch of a number of new technologies into the medical marketplace working for Johnson & Johnson, Boston Scientific, and CR Bard. Read this and more news for BioSig Technologies at: http://www.marketnewsupdates.com/news/bsgm.html
BioSig management is currently preparing a 510(k) submission to the Food & Drug Administration (FDA) for commercialization in the U.S., and planning its European regulatory process with the National Standards Authority of Ireland (NSAI) which serves as the Notified Body to obtain the CE Mark. CE marking is a mandatory conformity marking for certain products sold within the European Union.
Allied Market Research projects that the global Electrophysiology Market is expected to reach $8.2 billion by 2022, recording a CAGR of 13.4% during the period 2016-2022. The market is driven primarily by growth in incidence of atrial fibrillation, one of the most common heart rhythm disorder or cardiac arrhythmia, and an aging baby boomer generation with high-risk of targeted diseases.
Mr. Kenneth Londoner, CEO & Chairman of BioSig Technologies, Inc. commented, "Management is confident that we established a strong foundation for future growth while completing the tasks required to achieve commercialization. Our novel technology, coupled with our strategic management hires and long standing clinical relationships have positioned us to bring our PURE EP System to the global EP market in 2018. Going forward, we will continue to establish and leverage strategic relationships that will assist in the development and sale of our proprietary systems to this vastly underserved market."
In other healthcare industry news of note:
Johnson & Johnson (NYSE: JNJ) this week reported sales of $19.7 billion for the third quarter of 2017, an increase of 10.3% as compared to the third quarter of 2016. Operational sales results increased 9.5% and the positive impact of currency was 0.8%. Domestic sales increased 9.7%. International sales increased 10.9%, reflecting operational growth of 9.3% and a positive currency impact of 1.6%. Excluding the net impact of acquisitions and divestitures, on an operational basis, worldwide, domestic and international sales each increased 3.8%.* Net earnings and diluted earnings per share for the third quarter of 2017 were $3.8 billion and $1.37, respectively. Third-quarter 2017 net earnings included after-tax intangible amortization expense of approximately $0.9 billion and a charge for after-tax special items of approximately $0.5 billion. Third-quarter 2016 net earnings included after-tax intangible amortization expense of approximately $0.2 billion and a charge for after-tax special items of approximately $0.2 billion. Excluding after-tax intangible amortization expense and special items, adjusted net earnings for the current quarter were $5.2 billion and adjusted diluted earnings per share were $1.90, representing increases of 11.2% and 13.1%, respectively, as compared to the same period in 2016.* On an operational basis, adjusted diluted earnings per share also increased 10.1%.* A reconciliation of non-GAAP financial measures is included as an accompanying schedule. Read the full release here: https://finance.yahoo.com/news/johnson-johnson-reports-2017-third-104000829.html
Abbott Laboratories (NYSE: ABT) closed up slightly on Wednesday with over 9 million shares traded by the market close as was up slightly in afterhours trading. Earlier in the week, the company announced the U.S. launch of the company's Proclaim™ DRG Neurostimulator System, a new device designed to deliver stimulation to the dorsal root ganglion (DRG) and alleviate pain in patients suffering from complex regional pain syndrome (CRPS) of the lower limbs. With the Proclaim DRG system, Abbott has added new, patient-centric benefits to a device capable of delivering the company's sustained and superior pain relief for patients battling CRPS. Using Bluetooth® wireless technology, iOS‡ software and a more intuitive Apple‡ iPod touch‡ mobile digital device as the system's controller, the Proclaim DRG system is designed to provide patients new benefits over traditional neurostimulation systems. The Proclaim DRG platform is magnetic resonance (MR)-conditional and recharge-free, offering upgradeability and increased battery capacity over Abbott's previous generation systems.
Merck & Co. Inc. (NASDAQ: MRK) closed up slightly on Wednesday with over 7.8 million shares traded by the market close. The company recently announced that the U.S. Food and Drug Administration (FDA) has accepted and granted priority review for a supplemental New Drug Application (sNDA) for the use of LYNPARZA® (olaparib) tablets in patients with germline BRCA-mutated (gBRCA), HER2-negative metastatic breast cancer (MBC) who have been previously treated with chemotherapy either in the neoadjuvant, adjuvant or metastatic settings. A Prescription Drug User Fee Act (PDUFA) date is set for the first quarter of 2018. This is the first submission for a poly ADP-ribose polymerase (PARP) inhibitor outside ovarian cancer and the third indication submission for LYNPARZA in the U.S. The sNDA is based on the positive results from the phase 3 OlympiAD trial published in the New England Journal of Medicine.
Boston Scientific Corporation (NYSE: BSX) News: Shifamed LLC, a privately held medical device incubator, announced that Apama Medical, Inc., a Shifamed Portfolio Company, was acquired by Boston Scientific Corporation for $175 million in cash up-front and a maximum of $125 million in contingent payments over the period of 2018-2020, based on achievements of clinical and regulatory milestones. Apama Medical has developed the Apama Radiofrequency (RF) Balloon Catheter System, a novel ablation catheter platform designed to combine the benefits of existing ablation technology, while incorporating additional unique features that address recognized unmet needs in the rapidly growing atrial fibrillation market. The Apama RF Balloon Catheter System is currently being evaluated in clinical studies and offers the potential to improve both procedural efficiency and control of the ablation therapy delivered.
DISCLAIMER: MarketNewsUpdates.com (MNU) is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. MNU is NOT affiliated in any manner with any company mentioned herein. MNU and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. MNU's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. MNU is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed MNU has been compensated twenty three hundred dollars for news coverage of the current press release issued by BioSig Technologies, Inc. by a non-affiliated third party. MNU HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and MNU undertakes no obligation to update such statements.