Integra LifeSciences (NASDAQ:IART) recently launched the AmnioExcel Plus Placental Allograft Membrane. This product, launched under the company’ wound care portfolio, is designed to aid the repair of soft tissue.
The launch is expected to boost the company’s Orthopedics and Tissue Technologies (“OTT”) segment.
More About the Product
AmnioExcel Plus is a next generation, thicker, tri-layer, non-side specific allograft constituting of amnion-chorion-amnion layers that enables the process of complex wound closure. The proprietary DryFlex processing technology conserves the characteristic growth factors, cytokines and extracellular matrix found in native placental tissue. The room temperature storage, the five-year durability and convenience of use make it a superior product.
AmnioExcel Plus is a novel technology utilized by physicians in both the operating room and outpatient wound care setting, and is equipped to cater to around 8.2 million wounds with an estimated cost to Medicare of up to $98.6 billion annually.
Market Prospects
Per Markets and Markets, the global wound care market is expected to reach $24.8 billion by 2024 from $19.8 billion in 2019, at a CAGR of 4.6%. Hence, this product launch comes at an ideal time.
Recent Developments
In the fourth quarter of 2019, the company’s OTT segment registered 1.3% growth year over year. Organically, the segment grew 1.6% owing to a sales uptick in wound reconstruction. Wound reconstruction revenues, in turn, rose on the company’s robust performance in inpatient, plastics and reconstructive portfolios.
Price Performance
Shares of Integra have dropped 5.8% in the past year compared with the industry’s 1.3% rise.
Zacks Rank & Key Picks
Currently, Integra carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are ResMed Inc. (NYSE:RMD) , Medtronic plc (NYSE:MDT) and Hill-Rom Holdings, Inc. (NYSE:HRC) .
ResMed has a projected long-term earnings growth rate of 12%. It currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Medtronic’s long-term earnings growth rate is estimated at 7.4%. The company presently carries a Zacks Rank #2 (Buy).
Hill-Rom’s long-term earnings growth rate is estimated at 11.1%. It currently carries a Zacks Rank #2.
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Medtronic PLC (MDT): Free Stock Analysis Report
Integra LifeSciences Holdings Corporation (IART): Free Stock Analysis Report
ResMed Inc. (RMD): Free Stock Analysis Report
Hill-Rom Holdings, Inc. (HRC): Free Stock Analysis Report
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