Strong Impella sales growth help Abiomed increase revenue 35 percent in 2Q of 2016
Abiomed’s revenue increased 35 percent to $103 million and its GAAP net income increased to $0.20 per diluted share during the second quarter of FY2017 compared with the same time period last year.
Revenue from the company’s Impella heart pumps grew 37 percent to $97.9 million. In the U.S., Impella revenue increased 34 percent to $89.3 million and patient usage increased 35 percent, according to an Abiomed news release.
An additional 33 hospitals in the U.S. installed Impella 2.5 heart pumps during the quarter, while 62 new U.S. hospitals installed Impella CP heart pumps and 23 sites purchased the Impella RP. Abiomed said 1,099 sites have installed the Impella 2.5, 923 have installed the Impella CP and 112 have installed the Impella RP.
Abiomed also announced that the FDA approved a prospective feasibility and safety study to evaluate the use of the Impella CP for unloading of the left ventricle before PCI. The study plans on enrolling 50 patients who present with ST segment elevation MI (STEMI) but do not have cardiogenic shock. The FDA has not improved the Impella heart pumps for STEMI patients without cardiogenic shock.
Abiomed also maintained its fiscal year 2017 revenue guidance of $435 million to $445 million and its GAAP operating margin guidance of 18 percent to 20 percent.
Executive Editor
Tim Casey joined TriMed Media Group in 2015 as Executive Editor. For the previous four years, he worked as an editor and writer for HMP Communications, primarily focused on covering managed care issues and reporting from medical and health care conferences. He was also a staff reporter at the Sacramento Bee for more than four years covering professional, college and high school sports. He earned his undergraduate degree in psychology from the University of Notre Dame and his MBA degree from Georgetown University.