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Boston Scientific (BSX) EXALT Gets CE Nod, Endoscopy Arm Grows

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Boston Scientific Corporation BSX recently announced the receipt of CE Mark for its EXALT Model B Single-Use Bronchoscope. Following the regulatory go-ahead, commercialization of the single-use bronchcoscope in limited European markets is expected to begin in another few weeks.

The EXALT Model B Bronchoscope facilitates precise imaging and high-powered suction to detect abnormalities in patients' lungs and air passages. For investors’ note, the EXALT Model B Bronchoscope is the latest addition to Boston Scientific’s single-use imaging portfolio within the broader Endoscopy business.

More About the Product

The EXALT Model B Bronchoscope is a single-use device designed for bedside procedures in the intensive care unit, operating room and bronchoscopy suite. The device is generally offered in three varying sizes, slim, regular and large, to allow ease of use in a wide range of bronchoscopy procedures.

Per recommendation from the European Society of Gastrointestinal Endoscopy (ESGE) and the European Society of Gastroenterology Nurses and Associates (ESGENA), physicians, at present, are more inclined toward the use of single-use scopes in bronchoscopy procedures to eliminate the risk of scope-related infections arising from ineffective reprocessing of reusable scopes. The EXALT Model B Bronchoscope is designed to combat the risk of scope-associated contaminations and post-procedure infections in procedures involving a bronchoscope while improving efficiency in the hospital setting.

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Boston Scientific’s comprehensive portfolio of single-use technologies includes the EXALT Model D Single-Use Duodenoscope, LithoVue Digital Flexible Ureteroscope, SpyGlass DS Direct Visualization System and SpyGlass Discover Digital Catheter. These technologies are focused on innovation and development within the gastrointestinal, airway spaces, pancreaticobiliary, surgical and urological imaging.

Industry Prospect

Per a report published in Grand View Research, the global disposable endoscopes market size is expected to see a CAGR of 16.9% from 2021 to 2028. Rising concerns over cross-contamination in reusable endoscopes, growing medical support for disposable or single-use endoscopes and recommendations from pulmonology associations for the use of single-use bronchoscopy during the COVID-19 pandemic, among other factors, are expected to fuel market growth.

Considering this huge market prospect, the latest regulatory go-ahead seems to be well timed.

Notable Developments

In March 2021, Boston Scientific received FDA approval for the TheraSphere Y-90 Glass Microspheres, a low toxicity radioembolization technology used for treatment of patients with hepatocellular carcinoma (HCC). The approval will accelerate the availability of this life-prolonging therapy with demonstrated improvement in survivability and quality of life in the United States. Previously, TheraSphere could only be utilized under a humanitarian device exemption (HDE) from the FDA.

In the same month, Boston Scientific entered into a definitive agreement with Baring Private Equity Asia (BPEA) to acquire the global surgical business of Lumenis LTD. Lumenis’ proprietary MOSES laser technology combined with Boston Scientific’s LithoVue Single-Use Digital Flexible Ureteroscope and comprehensive kidney stone management portfolio is expected accelerate the delivery of robust kidney stone management offerings to more urologists. The acquisition is believed to expand the company’s footprint throughout Europe and Asia while driving top-line growth and margins.

Share Price Performance

The stock has underperformed its industry over the past year. It has grown 13.2% versus the industry’s growth of 14.9 %.

Zacks Rank and Key Picks

Currently, Boston Scientific carries a Zacks Rank #3 (Hold).

A few better-ranked stocks from the Medical-Products industry include PetIQ, Inc. PETQ, National Vision Holdings, Inc. EYE and Phibro Animal Health Corporation PAHC.

PetIQ, currently sporting a Zacks Rank #1 (Strong Buy), has a long-term earnings growth rate of 25.00%. You can see the complete list of today’s Zacks #1 Rank stocks here.

National Vision, which carries a Zacks Rank # 1, has a long-term earnings growth rate of 23.00%.

Phibro Animal Health, which carries a Zacks Rank # 2 (Buy), has a long-term earnings growth rate of 10.60%.

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