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Penumbra (PEN) Launches INDIGO System Lightning 7 in US

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Penumbra, Inc. PEN recently announced the commercial availability of its INDIGO System Lightning 7 in the United States. Notably, Lightning 7 is designed for single session arterial thrombus removal.

The latest technology expands Penumbra’s offering of the Indigo Aspiration System with Intelligent Aspiration for mechanical thrombectomy.

For investors’ note, Penumbra is a global healthcare company, which designs, develops, manufactures and markets medical products, and has an extensive portfolio that addresses challenging medical conditions in the target markets.

Penumbra continues to make progress with another latest technology that has the potential to increase single-session thrombus removal, thereby enhancing patient outcomes.

INDIGO System Lightning 7 at a Glance

Indigo system Lightning 7 combines the new Indigo system CAT 7 aspiration catheter with Lightning intelligent aspiration powered by Penumbra’s Engine. Notably, CAT 7 is a high-power, low-profile catheter that features laser-cut hypotube technology and circumferential sweep designed for dependable delivery and maximized clot extraction.

Penumbra’s Lightning intelligent aspiration features clot detection technology that enables the operator to identify thrombus location and is also designed for blood loss reduction.

Significance of the Launch

INDIGO System Lightning 7 streamlines clot removal in the peripheral arterial vasculature with low profile access and excellent trackability, which make vessel navigation much easier.

Considering the fact that in the United States, the number of patients presenting to the hospital with arterial thrombus is significantly higher than patients presenting with thrombus elsewhere in the body. The introduction of another advanced technology will enable physicians to reduce the need for thrombolysis, which in turn, can reduce demand for ICU beds.

Per management, the use of INDIGO System Lightning 7 will help physicians simplify arterial thrombus removal with more single-session results.

Growth in Penumbra’s Lightning Technology

During its fourth-quarter 2020 earnings release on Feb 23, 2021, Penumbra reported that the solid performance of Lightning products drove strong growth in the vascular segment. The company also confirmed the receipt of an indication from the FDA for the treatment of pulmonary embolism or PE pertaining to Lightning 12.

Earlier in November 2020, Penumbra announced the receipt of 510(k) FDA clearance for an expanded indication of the latest iteration of the Indigo Aspiration System, Lightning 12.

Industry Prospects

Per MarketsandMarkets, the global thrombectomy devices market is expected to reach $1.45 billion by 2022, seeing a CAGR of 6.7%. Rising number of minimally invasive procedures, ongoing technological advancements, growing demand for minimally invasive thrombectomy procedures, and an increasing healthcare expenditure across the emerging markets are the key catalysts for the market.

Considering the market growth, launch of Penumbra’s INDIGO System Lightning in the United States is well timed.

Price Performance

Shares of the company have gained 98.6% in a year’s time compared with the industry’s growth of 50.6%.

Zacks Rank and Key Picks

Currently, Penumbra sports a Zacks Rank #1 (Strong Buy).

A few other top-ranked stocks from the broader medical space are Envista Holdings Corporation NVST, Meridian Bioscience Inc. VIVO and Owens & Minor, Inc. OMI. You can see the complete list of today’s Zacks #1 Rank stocks here.

Envista’s long-term earnings growth rate is estimated at 24%.

Meridian Bioscience’s long-term earnings growth rate is projected at 61%.

Owens & Minor’s long-term earnings growth rate is estimated at 49%.

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