On May 9, 2017, Boston Scientific (BSX) announced the FDA approval of its Resonate family of products, including its ICD (implantable cardioverter defibrillator) and CRT-D (cardiac resynchronization therapy defibrillator) systems. The devices received the CE Mark in February 2017.
The device strengthens the company’s heart failure management expertise. The heart failure management business forms part of Boston Scientific’s Rhythm Management segment. In 1Q17, the segment reported growth of ~7% on a YoY (year-over-year) basis.
Features and benefits of Resonate ICD and CRT-D
The Resonate ICD and CRT-D devices include SmartCRT technology with multisite pacing capability for multielectrode pacing. The devices are compatible with the HeartLogic heart failure diagnostic service. For details on HeartLogic, read Trial Data Affirms Positive Results of HeartLogic Diagnostic Service. The devices are powered by EnduraLife battery technology, which has double the capacity of other products in the market.
According to Kenneth Stein, the senior vice president of Rhythm Management at Boston Scientific, “We are changing the treatment landscape by combining industry-leading device longevity with innovative solutions that will provide clinicians with tools to manage heart failure more effectively. Our post-approval studies for the HeartLogic service, including MANAGE-HF, will gather additional evidence to illustrate how these alerts, which detect impending heart failure decompensation, can improve patient outcomes.”
Edwards Lifesciences (EW), Medtronic (MDT), and Abbott Laboratories (ABT) are Boston Scientific’s major competitors in the heart failure management market. The iShares Russell 1000 ETF (IWB) has ~0.15% of its total holdings in Boston Scientific.
Next, let’s discuss analysts’ latest recommendations for Boston Scientific.