Leading healthcare products maker Covidien plc (COV) reported results from a study comparing its hernia repair product Parietex ProGrip self-fixating mesh with the standard of care for inguinal (groin) hernia repair. Interim data from the multicenter study presented at Hernia Repair 2011, the annual meeting of the American Hernia Society (“AHS”), showed encouraging potential of Parietex ProGrip in mitigating post-surgical pain in hernia repair.
Results revealed that Parietex ProGrip mesh significantly reduced early pain (compared with the gold standard “Lichtenstein” repair method) at the time of discharge and at day seven following the inguinal hernia repair procedure. Moreover, it has significantly shortened the duration of surgery.
Presentations by surgeons at Hernia Repair 2011 also included new data supporting the adoption of the company’s AbsorbaTack absorbable fixation device for laparoscopic inguinal (groin) hernia repair and Permacol Biologic Implant for the repair of abdominal wall defects.
Covidien is a leading global healthcare products company that develops and markets medical solutions for better patient outcomes. The company’s core medical devices business faces stiff competition from Johnson & Johnson (JNJ), Becton, Dickinson (BDX) and C.R. Bard (BCR).
Covidien’s hernia repairs products represent a part of its soft tissue repair business which generated sales of $854 million in fiscal 2010. The acquisition of tissue implant products maker Tissue Science Laboratories in fiscal 2008 has enabled the company to expand its foothold in the hernia repair market allowing it to market a comprehensive suite of products.
Covidien boasts of a well diversified product and technology portfolio. The company remains committed to rolling out new products and technologies, focusing on faster-growing products and markets, and boosting market share in core segments through investments in sales and marketing infrastructure. However, Covidien’s hernia repair franchise has challenges ahead as C.R. Bard continues to strengthen its foothold in this market with new products.
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