Abiomed’s quarterly revenue increases 38%
Led by strong sales of its Impella heart pump, Abiomed’s revenue for the fiscal third quarter of 2016 increased 38 percent to $85.8 million compared with the same time period in 2015. Meanwhile, its GAAP net income during the quarter was $10.6 million or $0.23 per diluted share, down from $12.7 million or $0.30 per diluted share the previous year.
During the third quarter, an additional 20 hospitals purchased the Impella 2.5 heart pumps, an additional 49 hospitals purchased the Impella CP heart pumps, and an additional 17 hospitals purchased the Impella RP heart pumps. As of Feb. 4, 1,020 sites had the Impella 2.5 heart pumps, 788 sites had the Impella CP heart pumps and 71 sites had the Impella RP heart pumps.
The FDA approved the Impella RP heart pump in January 2015 and granted Abiomed premarket approval for its Impella 2.5 heart pump for use during high-risk PCIs in March 2015.
Revenue for the Impella heart pump increased 41 percent worldwide to $81 million and 45 percent in the U.S. to $75 million during the quarter. In addition, patient usage of the Impella heart pumps increased 45 percent.
In December 2015, Abiomed announced it planned on purchasing its headquarters in Danvers, Mass. The company said it was still evaluating the purchase.
Abiomed also increased its fiscal year 2016 revenue guidance to approximately $326 million and its fiscal year 2016 GAAP operating margin to more than 17 percent. For the fourth quarter of fiscal year 2016, the company projects revenue of approximately $90 million.
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.