Baxter International Inc. BAX recently introduced the Sharesource Analytics 1.0 premium module, which is the next generation of digital health for home-based peritoneal dialysis (“PD”) patients. Notably, the company intends to unveil Sharesource Analytics 1.0 worldwide, starting with the United States, on a rolling basis over the next year and making it available by subscription.
It is worth mentioning that patients with end-stage renal disease need dialysis treatment or kidney transplant to stay alive. Usually, PD therapy is done by patients at home at one’s convenience.
This launch is likely to provide a boost to Baxter’s — a leading player in renal care space — renal care segment as well as product portfolio.
Sharesource Remote Patient Management at a Glance
Sharesource remote patient management enables healthcare professionals to monitor their patients’ home dialysis treatments and allows clinicians to adjust therapy, thereby eliminating unplanned patient visits to the clinic as a general matter.
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Sharesource Analytics 1.0 is a clinical management resource that has been developed on this pioneering remote patient management platform. This next generation digital health module helps to deliver intuitive and clinically meaningful data that aims to keep patients on home dialysis by detecting potential therapy complications.
Significance of the Launch
On the back of this launch, Baxter is pioneering the next generation of digital health for nephrology that has been uniquely created to further boost remote clinical management of home dialysis patients.
Also, this new digital health module will improve healthcare professionals’ capability to keep PD patients safely at home amid the COVID-19 pandemic.
Per a report by Fortune Business Insights, the global PD market was worth $3.59 billion in 2017 and is expected to reach $6.08 billion by 2025, witnessing a CAGR of 6.9% during the forecast period (2018-2025). Hence, the launch is well-timed.
In May, Baxter announced the global launch of the latest version of its next-generation platform, PrisMax 2. The PrisMax 2 system aims to help streamline the delivery of continuous renal replacement therapy (“CRRT”) and other organ support therapies while providing hospitals the flexibility to meet the requirements of the intensive care unit (ICU).
In March, the company received U.S. FDA clearance of its next-generation Artificial Kidney 98 (AK 98) dialysis machine, which can be used simultaneously with its novel dialysis membrane — Theranova. The latest technology has been designed to be a portable and simple to use system to manage hemodialysis (HD) treatments.
Shares of this Zacks Rank #3 (Hold) company have gained 2.5% on a year-to-date basis, compared with the industry’s growth of 1.5%.
Stocks to Consider
Some better-ranked stocks from the broader medical space are HCA Healthcare, Inc. HCA, DaVita Inc. DVA and Henry Schein, Inc. HSIC, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
HCA Healthcare’s long-term earnings growth rate is expected at 12.3%.
DaVita’s long-term earnings growth rate is estimated at 14.4%.
Henry Schein’s long-term earnings growth rate is projected at 11.2%.
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