Massachusetts-based cardiac assist devices maker Abiomed (ABMD) reported updated clinical data from its USpella registry at the 2010 Transcatheter Cardiovascular Therapeutics (TCT) scientific meet in Washington, DC. USpella is a U.S. multicenter observational registry of Impella 2.5 (cardiac pump) patients. Abiomed announced the last update from this registry in May 2010.
The updated clinical results from USpella include data from 352 patients contributed by 24 U.S. and Canadian centers. Data presented during Abiomed’s TCT breakfast session revealed significant improvement in blood pumping along with a low mortality rate.
The updated USpella registry showed that patients treated with Impella 2.5 in the prophylactic (or preventive) setting achieved significant (17%) improvement in left ventricle ejection fraction (LVEF). LVEF is a measure of the amount of blood being pumped out of the left ventricle (the main pumping chamber) with each beat. Moreover, the results showed a low (3.9%) mortality rate.
Patients supported by Impella 2.5 on an emergent basis demonstrated a 19% improvement in LVEF at discharge along with a significant (59%) reduction in mortality. The results further validate the effectiveness and viability of Impella 2.5.
Abiomed enjoys strong demand for its Impella cardiac pumps. Higher Impella sales continue to fuel double-digit revenue growth. Abiomed is pursuing a number of strategies to boost Impella utilization. The company recently reported the first use of its Impella Right Peripheral (RP) heart pump in Canada. Impella RP has been designed as a support for right heart failure and is not commercially available in the U.S. yet.
Abiomed’s strategy focuses on heart recovery as the goal for all acute cardiac attacks. Its products are designed to enable the heart to rest, heal and recover. We believe this niche product line feeds a growing trend towards procedures, that are either minimally invasive or assist the body to recover more naturally.
However, Abiomed does not expect to make any profit in fiscal 2011, in part, due to the hefty expenses associated with Impella. Moreover, its legacy (non-Impella) business is shrinking and its strategy to add fewer new hospitals (or sites) with Impella 2.5 in fiscal 2011 may impair revenue growth. We are currently Neutral on Abiomed.
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