DANVERS, Mass.--([ BUSINESS WIRE ])--Abiomed, Inc. (NASDAQ: ABMD), a leading provider of breakthrough heart support technologies, today presented its expanded heart recovery strategy along with new initiatives that are expected to enhance strong, multi-year double digit sales and earnings growth. During its annual investor and analyst day in New York City, Abiomed will discuss the recently announced PROTECT II clinical and economic developments, the new Symphonya" product, the Companyas strategy for long term growth and its new technology pipeline.
"This is an extraordinarily exciting time for Abiomed"
Specifically, the Company announced a new higher flow Impella device, named Impella cVADa". Commercial U.S. availability is planned for the summer of 2012.
The Company also provided updates on its strategy for market entry into Japan, and announced an estimated Impella market entry timing of 2013. Currently, approximately 25,000 patients are treated in Japan with the intra-aortic balloon pump.
Additionally, the Company unveiled the successful first human use of Symphony, which was announced last month at the American Heart Association (AHA) 2011 Scientific Sessions. Abiomedas new synchronized heart pump is designed to treat approximately 90,000 of the 1.6 million New York Heart Association (NYHA) class III chronic heart failure patients by improving patient hemodynamics and potentially improving quality of life. The device is designed with the primary goal of stabilizing the progression of heart failure and/or recovering/remodeling the heart. The initial first in man experience demonstrated feasibility of the concept with a marked improvement in cardiac output, improved renal function and early patient mobility post implant.
Both the Impella cVAD and Symphony are not currently approved for use in the United States.
aThis is an extraordinarily exciting time for Abiomed,a said Michael R. Minogue, President, Chief Executive Officer and Chairman of Abiomed. aOur Impella clinical and economic story has never been stronger, we are transitioning to GAAP profitability with sustainable positive cash flow and have significant additional growth opportunities for the foreseeable future.a
The webcast of the full investor day presentation may be accessed on [ www.abiomed.com ].
ABOUT ABIOMED
Based in Danvers, Massachusetts, Abiomed, Inc. is a leading provider of medical devices that provide circulatory support to acute heart failure patients across the continuum of care in heart recovery. Our products are designed to enable the heart to rest, heal and recover by improving blood flow and/or performing the pumping of the heart. For additional information please visit: [ www.abiomed.com ].
FORWARD-LOOKING STATEMENTS
This Release contains forward-looking statements, including statements regarding development of Abiomed's existing and new products, the Company's progress toward commercial growth, and future opportunities. The Company's actual results may differ materially from those anticipated in these forward-looking statements based upon a number of factors, including uncertainties associated with development, testing and related regulatory approvals, anticipated future losses, complex manufacturing, high quality requirements, dependence on limited sources of supply, competition, technological change, government regulation, future capital needs and uncertainty of additional financing, and other risks and challenges detailed in the Company's filings with the Securities and Exchange Commission, including the Annual Report filed on Form 10-K and most recently filed Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements, which speak only as of the date of this Release. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances that occur after the date of this Release or to reflect the occurrence of unanticipated events.