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ABMD

Abiomed

$143.65 /

+11.03 (+8.32%)

07:11
03/25/20
03/25
07:11
03/25/20
07:11

Abiomed announces response to COVID-19 pandemic

Abiomed is taking a number of steps to aid the global medical community and contribute to improved patient care during the COVID-19 outbreak. Impella heart pumps are FDA approved to provide circulatory support to allow the heart to rest and recover for patients suffering from cardiogenic shock, including AMI, right heart failure, cardiomyopathy and myocarditis, or for patients with advanced heart failure undergoing PCI. During these challenging times, Abiomed has focused our Patients First mission on three guiding priorities: Clinically supporting patients and physicians on-site, on-call and online; Manufacturing and supplying Impella heart pumps to hospitals; Keeping our employees and their families healthy and safe. As a medical device manufacturer that provides on-site support to hospitals, Abiomed is taking the following steps: Continuing to manufacture and support patients. Our manufacturing, shipping and patient support teams are taking additional precautions as they continue to manufacture and ship Impella heart pumps and provide clinical support to patients in need of the Impella platform. We are also minimizing the spread of COVID-19 by instituting a work-from-home policy for all employees worldwide who are not involved in manufacturing, shipping or patient support. Maintaining appropriate levels of inventory to supply hospitals needing Impella heart pumps during the COVID-19 crisis. Abiomed has several months of inventory available to ship to hospitals. Production continues with strict controls at Abiomed's redundant manufacturing facilities in the United States and Germany. Proactively moving inventory to depot sites in our major markets of the United States, Germany and Japan. This will help hospitals maintain access to Impella heart pump inventory, even if coronavirus-related shipping issues arise. Using online virtual meeting platforms to communicate as needed to employees and customers. Abiomed implemented Skype more than a year ago and has transitioned all operational reviews to this virtual format. Supporting clinical cases 24 hours a day, 7 days a week with Abiomed's field-based, in-hospital clinical support team, augmented by the existing on-call phone support team from the Clinical Support Center. These field and on-phone support resources in the United States, Europe and Japan provide expertise in utilizing Impella to treat many of the sickest patients in the hospital. This on-site and on-phone support is a service provided by Abiomed for free as part of our commitment to improving patient outcomes. Accelerating the Impella Connect rollout to provide online remote patient monitoring. Impella Connect allows Abiomed personnel to remotely monitor the Impella console and interact with medical providers appropriately on hemodynamic management, alarms and weaning. During the COVID-19 crisis, this online, HIPAA compliant monitoring service is being provided at no cost to help medical providers manage patients 24x7. In FY21, Abiomed will transition the majority of our patients and hospitals to the Impella Connect platform. Pausing the FDA STEMI-DTU Randomized Controlled Trial in light of the tremendous challenge to medical providers to treat patients with the COVID-19 pandemic. Abiomed plans to restart the study in approximately eight weeks when physicians and hospitals have the ability to enroll patients and record clinical metrics. Facilitating a COVID-19 physician advisory board through our global physician network. The advisory board is evaluating lessons learned in the use of all types of treatment, including the use of mechanical circulatory support, or MCS, in COVID-19 patients. Additionally, Abiomed is tracking patient outcomes of COVID-19 patients who receive Impella, using the Impella Quality, or IQ, Database. Expanding existing online, interactive training opportunities to enable greater remote learning opportunities for medical providers. Hundreds of hours of education and online training are already available through Abiomed's online physician community at ProtectedPCI.com, Abiomed Academy and the Impella app. The online training may be especially useful for physicians and nurses who are newly transitioned to patient care areas requiring competence with Impella use. In the April quarter, Abiomed will launch Coronary Artery and Myocardial Protected, or CAMP, PCI, the largest online and interactive education and training endeavor in the company's history, led by a faculty of experts in the field of circulatory support. Maintaining product development and regulatory submissions. Abiomed is financially sound with $600 million in cash and no debt and will continue to invest in innovation and selectively hire for critical business objectives.

ABMD Abiomed
$143.65 /

+11.03 (+8.32%)

03/23/20 Piper Sandler
Abiomed's Impella may play role in treating COVID-19, says Piper Sandler
02/12/20
Fly Intel: Top five analyst downgrades
02/12/20 Morgan Stanley
Abiomed downgraded to Underweight on Impella pressures at Morgan Stanley
02/12/20 Piper Sandler
Abiomed risk/reward attractive for longer term investors, says Piper Sandler

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