Abiomed: Record Revenue Driven by Impella

In June, Abiomed got the green light from the FDA to market its Impella 2.5 CAD, a minimally invasive ventricular assist device. At the time, I reported that the company could potentially double its revenues on sales of this device alone.

In its most recent quarter, revenues grew 75% to $20.0 million, up from the $11.4 million reported in the same period last year. As of September 30, 2008, over 100 U.S. hospitals had purchased Impella. Back in August, Greg Simpson, an analyst at Stifel Nicolaus, estimated the device could bring $50 million in sales through 2009.

Total Impella revenues for the second quarter were $10.5 million. Though the device is now approved in more than 40 countries, including in Europe under the CE Mark, some 80% of Q2 revenues came from U.S. sales.

The Impella 2.5 is inserted percutaneously in the cardiac cath lab via the femoral artery into the left ventricle (watch the video). Up to 2.5 liters of blood per minute are delivered by the pump from the left ventricle into the ascending aorta, providing the heart with support in critical situations.

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