Medtronic Issues Advisory Regarding Defibrillator Batteries
September 11 2009 - 10:08AM
Dow Jones News
Medtronic Inc. (MDT) has advised doctors of a potential battery
issue in about 6,300 implanted defibrillators that could cause
premature depletion, but not without ample advanced warning, a
company spokesman confirmed Friday.
The issue involves "Concerto" cardiac resynchronization therapy
defibrillators, which coordinate beating in erratic hearts and have
defibrillators on board to shock hearts to stop life-threatening
problems. It also involves "Virtuoso" defibrillators.
Medtronic spokesman Chris Garland said this is an issue that
Medtronic identified, and that it doesn't alter the normal course
of regular check-ups and device monitoring.
The company guarantees at least a 90-day warning from devices
before the battery runs out, and though the battery may not last as
long as normal in these devices, doctors and patients will still
get that advanced warning.
"There's no safety concern at all, there's been no reports of
injury," Garland said.
Medtronic issued a letter on the matter to doctors earlier this
week, he said.
While small in scope, Bernstein Research analyst Derrick Sung
still believes this issue could hurt Medtronic's $5 billion
heart-rhythm business, which includes both implantable
defibrillators and pacemakers. This advisory follows one in May
regarding a potential problem with wires in about 37,000 pacemakers
and a recall two years ago of faulty cables that connect
defibrillators to the heart.
The latter issue cast a long shadow over Medtronic's
heart-rhythm business, which has been fighting its way back from a
stretch of market-share losses to rivals St. Jude Medical Inc.
(STJ) and Boston Scientific Corp. (BSX). One reason for share
losses "has been a desire for doctors to spread their implants more
evenly among the three manufacturers in order to diversify their
recall risk," analyst Sung said.
Shares of Medtronic opened lower Friday and were recently down
2.2% to $38.16.
-By Jon Kamp, Dow Jones Newswires; 617-654-6728;
jon.kamp@dowjones.com
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