Abiomed Outlines Long-Term Growth Strategy and Unveils Future Products at Annual Investor Conference
DANVERS, Mass., Aug. 11, 2015 (GLOBE NEWSWIRE) -- Abiomed, Inc. (Nasdaq:ABMD), a leading provider of breakthrough heart support technologies, will present the Company's long-term growth strategy and five- year vision for Impella® revenues during its annual investor conference today in Boston. The meeting will also include projected patient figures for the high-risk percutaneous coronary intervention (PCI) market, describe a new patient population of interest, and introduce future Impella products in the pipeline for heart failure, along with scientific and case presentations from leading physicians.
During the conference, Michael R. Minogue, Abiomed president, chairman and chief executive officer, and members of Abiomed's management team will present the company's long-range business plan with details on future product approvals, the size of relevant patient populations and the estimated Impella adoption rates for each patient group, and discuss marketing goals and objectives following the Protected PCI launch.
Among the specific topics to be presented at today's event include:
Treating Higher Risk Patients: Leading physicians will present their experiences with Impella in both the surgical and catheterization lab settings, including a review of the recent TCTMD educational video on Protected PCI. Presentations will be given by: Mark Anderson, M.D., John Lasala, M.D., Jeffrey Moses, M.D., and George Vetrovec, M.D.
Impella in the Post-PMA Era: Management will present an in-depth look at the patient populations, market, and potential opportunity for Impella. Some of those markets include:
Protected PCI patients — Abiomed estimates the urgent and elective high risk PCI patient population as a 121,000 annual patient opportunity. With future PMA approvals, the emergent patient population remains at 100,000 patients. During this presentation, Abiomed management will elaborate on several of the new marketing efforts used to drive elective and urgent Protected PCI utilization.
Chronic care patients -- Abiomed is expanding its development focus to chronic care patients, centering on patient ambulation and mobilization, as well as new technologies. Abiomed continues to focus its efforts on native heart recovery and remodeling with intent to explant as a cost-effective strategy that promotes quality of life.
Impella New Product Pipeline and Opportunity: Management will review the pipeline and next-generation devices, including:
Impella Expandable Cardiac Power or "ECP": The ECP pump is designed for blood flow of >3 liters/minute. It is intended to be delivered on the standard Impella 9 Fr catheter and will include an 18 Fr expandable inflow in the left ventricle only with a smooth, clear, polyurethane membrane crossing the left ventricle.
Next Generation Impella CP: The enhanced Impella CP pump is designed to have an increased flow of 4.5 liters/minute with improved inflow design and smart sensor technology. It will be delivered on the standard Impella 9 Fr catheter and 14 Fr pump and is designed to provide support for up to 10 days.
Next Generation Impella 5.0: The "Impella 5.5": The pump is designed for flow of 5.5 liters per minute. It will be delivered on the standard 9 Fr catheter and includes a 19 Fr pump that is 45% shorter than the current Impella 5.0. This pump is designed for duration of weeks to months.
Impella Bridge to Recovery or "BTR": The Impella BTR is designed with similar specifications to the Impella 5.5 and is being developed with the intention of permitting patients to be discharged from the hospital with a wearable driver. It is designed to provide support for months to years.
The Five Year Vision for Growth and Financial Revenue Outlook: Management will review the potential opportunities for the new and existing Impella products and will also present a model of its vision for Impella revenues in the five-year time frame. This model will reflect assumptions about the size of the accessible markets, average selling price (ASP) of Impella, and the financial impact of unlocking new patient opportunities. These models indicate a potential of up to $1.2 to $1.8 billion in Impella revenues, and possibly larger with the receipt of future regulatory approvals for treatment of heart failure patients. This revenue potential, in conjunction with operating leverage, will create a vision for a fast growing, 30%+ operating margin, business.
Members of the Abiomed management team scheduled to speak at today's event include:
Michael Minogue, Chief Executive Officer, President & Chairman
Andrew Greenfield, Vice President & General Manager of Global Marketing
Dr. Thorsten Siess, Chief Technology Officer
Dr. David Weber, Chief Operating Officer
Abiomed invites its investors and potential investors to listen to the presentations via a live webcast that can be accessed under the Investor section of the company's website at www.abiomed.com. The presentations are scheduled to begin at approximately 9:00 a.m. EST. A replay of the webcast will be available on the Abiomed website for a brief period after the event.
ABOUT ABIOMED Based in Danvers, Massachusetts, Abiomed, Inc., is a leading provider of medical devices that provide circulatory support. Our products are designed to enable the heart to rest by improving blood flow and/or performing the pumping of the heart. For additional information please visit: www.abiomed.com
FORWARD-LOOKING STATEMENTS This release contains forward-looking statements, including statements regarding development of Abiomed's existing and new products, the Company's progress toward commercial growth, and future opportunities and expected regulatory approvals. The Company's actual results may differ materially from those anticipated in these forward-looking statements based upon a number of factors, including uncertainties associated with development, testing and related regulatory approvals, including the potential for future losses, complex manufacturing, high quality requirements, dependence on limited sources of supply, competition, technological change, government regulation, litigation matters, future capital needs and uncertainty of additional financing, and other risks and challenges detailed in the Company's filings with the Securities and Exchange Commission, including the most recently filed Annual Report on Form 10-K. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this release. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances that occur after the date of this release or to reflect the occurrence of unanticipated events.
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Director, Investor Relations