We touched base with Greg Cash, CEO of BioSig Technologies, to hear his thoughts on the state of the market and what investors might expect going forward.
In the past few weeks, Abbott (NYSE:ABT) received a $1.47 billion bid for its cardiovascular division, Medtronic’s (NYSE:MDT) MRI-safe cardiac devices were approved and a brand-new technology—dissolving heart stents—saved numerous lives.
To reiterate: that’s all happened since the beginning of the month.
If it seems like cardiac device companies are in the news a lot lately, you’re right. This market is growing fast, and every day brings new developments. It can be hard to keep up!
With that in mind, we touched base with Greg Cash, CEO of BioSig Technologies (OTCQB:BSGM), to hear his thoughts on the state of the market and what investors might expect going forward. In short? This industry looks favorable… but a select few areas seem especially promising.
Why invest in cardiovascular device companies?
“The fundamentals supporting the market for cardiovascular devices continue to be strong,” Cash said, then elaborated on those fundamentals: “an aging population, with heart disease continuing to be the number one cause of death.”
Additionally, more and more people have chronic diseases like diabetes or hypertension, which are often linked to heart disease. In other words, the increase in other chronic conditions fuels instances of cardiovascular disease in the population.
That means there’s already a huge demand for better defibrillators, pacemakers or cardiac recording systems, of the sort BioSig is developing. Going forward, it looks like that need will only increase.
What cardiac devices show the most promise?
There is plenty of choice when it comes to cardiac device companies. Some focus on diagnostics and monitoring, others consider the surgical side. Products include everything from stents and defibrillators to platforms that measure cardiac rhythms.
So how do you choose?
Cash quoted some promising statistics around the cardiac electrophysiology (EP) market specifically: “the device market is growing at a 12. 1 percent CAGR and complex cardiac ablations at 10.5 percent, indicating a bright future for companies developing cutting edge cardiac EP technologies.”
Outside of cardiac EP? “The transcatheter heart valve market has been making interesting advances in aortic valve replacement with significant developments in mitral valve repair and replacement,” Cash said. “Besides cardiac EP, it is the only other market showing double digit growth.”
He has his eye on Neovasc (NASDAQ:NVCN, TSX:NVC) and CardiAQ, acquired by Edwards Lifesciences (NYSE:EW), as leaders in that space.
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Securities Disclosure: I, Chelsea Pratt, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: BioSig Technologies is a client of the Investing News Network. This article is not paid-for content. Interviews conducted by the Investing News Network are edited for clarity. The Investing News Network does not guarantee the accuracy or thoroughness of the information reported. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.