FDA OKs Integra's Camino Flex Ventricular Catheter - Analyst Blog

Leading medical technology company – Integra LifeSciences Holdings Corporation IART gained the U.S. Food and Drug Administration (FDA) approval for its Camino Flex Ventricular Catheter for use with magnetic resonance imaging (MRI). The Camino Flex Ventricular Catheter is used in conjunction with Integra's next-generation Camino Monitor.

According to Integra, Camino Flex is a tunneled ventricular catheter and is MR conditional at 1.5 and 3.0 T. The product clearly has a clinical advantage over other tunneled ventricular catheters as it is capable of consistently monitoring intracranial pressure (ICP) independently in the ventricles.

The Camino Flex Ventricular Catheter, when used along with the Camino Monitor, equips healthcare providers with a highly advanced and innovative technology to efficiently diagnose and treat complex and compromised neurological conditions. With the increasing demand of MRI for patients undergoing neuromonitoring and with approximately 800 centers in the U.S. using the Camino platform, we believe, this FDA approval will strengthen the foothold of Integra in the market for neurological and neurosurgical devices.

The Camino Flex Ventricular Catheter falls under the company's U.S. Neurosurgery business segment, which contributed 20.6% of total revenues in 2013. In a bid to enhance its product offerings under this segment, Integra acquired the DuraSeal product lines from Covidien plc COV in Jan 2014. We believe Integra is steadily executing its strategy of accelerated growth through its near-term objectives like portfolio optimization and strategic corporate development. 

The U.S. neurosurgical market is dominated by certain major players like Stryker Corporation SYK and Medtronic, Inc. MDT which also have similar offerings. A peer-product worth mentioning is Medtronic's Duet External Drainage and Monitoring System that is MRI-safe to 3 Tesla (without laser).  Therefore, we would like to remain on the sidelines until more visibility is obtained about the performance and future demand for Integra's Camino Flex Ventricular Catheter.

Currently, Integra carries a Zacks Rank #3 (Hold). Covidien is, however, a better-ranked stock in the broader medical sector with a Zacks Rank #2 (Buy).