In mid-February, Medtronic announced that regulators had approved its groundbreaking Resolute Integrity drug-eluting stent that treats coronary artery disease in diabetics.
Earlier, Medtronic chief financial officer Gary Ellis had said that the approval will drive revenue of the cardiovascular business, which grew 8 percent last quarter, to $830 million.
Aside from Medtronic, another Minnesota company is going to share in the bounty if Resolute Integrity wins in the marketplace.
SurModics (NASDAQ:SRDX), based in Eden Prairie, announced Thursday that Medtronic has chosen the company’s coating technology for the Resolute Integrity drug-coated stent.
“We are extremely pleased that our hydrophilic coating was selected for use on the delivery catheter of Medtronic’s Resolute Integrity DES delivery system,” said Gary Maharaj, president and CEO of SurModics, in a statement.
The company’s hydrophilic coating revenue increased 8 percent to $8.2 million in the quarter ended Dec. 31, SurModics announced last month. That represents 10 consecutive quarters of year-on-year hydrophilic royalty revenue growth.
Aside from providing coating services for Medtronic’s one-of-a-kind stent, SurModics is also performing a similar function for Edwards Lifesciences’ highly anticipated product — the Sapien transcatheter aortic valve replacement system, which is the first product approved in the U.S. to perform transcatheter valve implants.
