Despite its troubles related to the Riata and the Riata ST lead recalls, St. Jude Medical CEO Daniel Starks told analysts Wednesday that the company will gain a 1 percentage point market share in the global cardiac rhythm market in 2012. The company’s CRM segment includes implantable cardioverter defibrillator and pacemaker products.
In discussing the company’s earnings, Starks said that his confidence comes partly from the traction that the company’s new defibrillator system — the Unify Quadra — is gaining in the marketplace.
“In the (eight weeks since the U.S. Food and Drug Administration approved the product), we have signed over 150 new ICD contracts with customers,” Starks said. “Each contract reflects an expected market gain in ICD market share in 2012 in the hospital or health system covered by the contract.”
With the Rise of AI, What IP Disputes in Healthcare Are Likely to Emerge?
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
Later he indicated that the 1 percentage point market share growth in CRM that the company is expecting is likely a conservative figure given that last year without a full launch of the Unify, the company’s CRM market share increased to 26 percent from 25 percent in 2010.
In the quarter ended Dec. 31, the company’s CRM sales were $728 million, a 4 percent decrease compared to the fourth quarter of 2010.
