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Merit Medical (MMSI) launches new basixALPHA inflation device

Merit Medical Systems, Inc. MMSI announced the commercialization of its new ergonomic inflation device — basixALPHA — in the United States. The device is designed to streamline angioplasty procedures.

With the launch of basixALPHA, Merit Medical further strengthens its portfolio of inflation devices, which includes analog and digital devices such as BasixCompak, basixTOUCH, Blue Diamond and DiamondTouch. These devices are primarily used for angioplasty procedures, which have low and high pressure capability for inflation, deflation, and pressure measurement within angioplasty balloons.

Merit Medical is one of the leading companies in the inflation device market whose devices have already been used in more than 10 million procedures worldwide.

Meaning of the basixALPHA version

Merit Medical’s basixALPHA inflation device is designed for one-handed preparation and rapid inflation with minimal effort that will streamline angioplasty procedures. The device has the potential to improve physician experience and patient outcomes worldwide.

According to the press release, more than 1.2 million coronary angioplasty procedures are performed each year in the United States. Faster inflation and streamlining of angioplasty procedures through the use of the basixALPHA inflation device is likely to drive demand for the device, leading to revenue growth for the company.

Price performance

Merit Medical stock has gained 12.6% so far this year, against the industry’s 13.8% decline and the S&P 500’s 16.8% plunge.

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Image source: Zacks Investment Research

Industry Outlook

According to a report by Allied Market Research, the global Inflation Devices Market was valued at USD 517 Million in 2018 and is projected to reach USD 770 Million by 2026 with a CAGR of approximately 5.1%. Factors such as increasing adoption of minimally invasive procedures, rising healthcare expenditures globally, and increasing geriatric population are likely to drive the market.

Given the market potential, the latest launch is expected to provide a significant boost to Merit Medical’s business in the niche space.

Notable developments

Earlier this month, Merit Medical announced the US commercial release of its PreludeSYNC EZ radial compression device. It complements the company’s radial product portfolio which includes the Prelude IDeal, Merit Medical’s thin-walled hydrophilic sheath introducer with improved kink and compression resistance.

Merit Medical last month announced its third quarter 2022 results, where it performed better than expected and saw a slight year-over-year increase in both top and bottom results. Merit Medical also saw revenue growth in the cardiovascular segment and across the majority of its product categories within its cardiovascular unit. Its product sales were also promising. The robust performance in the United States and abroad has been impressive.

In September, Merit Medical announced the US availability of the TEMNO Elite Soft Tissue Biopsy System, the latest addition to its comprehensive line of biopsy devices.

In the same month, Merit Medical announced the commercial release in the United States of the Prelude Roadster Guide Sheath. Prelude Roadster is the latest addition to the Merit Vascular-Peripheral Access line, which includes introducers and other products such as access sets, vessel dilators and accessories.

Award from Merit Medical Systems, Inc.

Award from Merit Medical Systems, Inc.

Merit Medical Systems, Inc. Award | Quote from Merit Medical Systems, Inc.

Zacks ranking and other key picks

Currently, Merit Medical carries a Zacks rank #2 (purchase).

Some other stocks to consider in the broader medical space are AMN Healthcare Services, Inc. AMN, ShockWave Medical, Inc. SWAVs and McKesson Corporation MCK.

AMN Healthcare, which currently holds the Zacks #2 ranking, has an estimated long-term growth rate of 3.3%. AMN’s earnings have exceeded the Zacks consensus estimate for the past four quarters, averaging 10.9%.

You can see the full list of today’s Zacks #1 Rank (Strong Buy) stocks here.

AMN Healthcare gained 0.6% against the sector’s 31% decline so far this year.

ShockWave Medical, currently ranked No. 2 in Zacks, has an estimated growth rate of 23.6% for 2023. SWAV’s earnings have exceeded estimates for the past four quarters, averaging 146.1%.

ShockWave Medical gained 44.7% compared to the industry’s decline of 27.7% so far this year.

McKesson, currently carrying Zacks rank No. 2, has an estimated long-term growth rate of 10.1%. MCK’s earnings beat estimates in two of the last four quarters and missed the same in the other two, averaging 4.8%.

McKesson gained 53% against the industry’s 13.8% decline so far this year.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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