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Novadaq Technologies

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February 17, 2012 – Comments (0)

http://www.novadaq.com/

From the companies website:

Novadaq primarily develops, manufactures and markets real-time fluorescence imaging products that are designed for use by surgeons in the operating room and other clinical settings where open, minimally invasive or interventional surgical procedures are performed. The Company′s SPY® Imaging core technology enables surgeons to the visualize blood flow in vessels, co-joined vessels and micro-vessels, and to assess the quality of blood perfusion in tissue, without exposing the patient to radiation. Surgeons report that the use of SPY Imaging allows for more effective treatment of such conditions as breast and colon cancer, diabetic wounds and cardiovascular blockages, which ultimately results in lower rates of post-operative complications and reduced healthcare costs.

More than 50 peer-reviewed publications demonstrate that the use of SPY Imaging during complex surgery leads to fewer post-operative complications and lower hospital costs. The SPY Imaging System is 510(k) cleared by the United States Food and Drug Administration ("FDA") in a variety of surgical applications including cardiovascular surgery, plastic, reconstructive and micro-surgery, organ transplant surgery, gastrointestinal surgery and minimally invasive surgery.

The endoscopic version of SPY, called the PINPOINT® Endoscopic Fluorescence Imaging System, is also FDA 510(k) cleared for use in minimally invasive surgical procedures. PINPOINT combines the capabilities of SPY Imaging with state-of-the-art, high definition (“HD”) visible light visualization traditionally offered by conventional endoscopes.

The majority of Novadaq's current revenue comes from alliances formed with leading companies in relevant markets where SPY Imaging and the SPY technology platform have demonstrated improved clinical outcomes in open, minimally invasive and robotic surgery applications.

Novadaq announced its first alliance with Intuitive Surgical®, Inc., in January 2009, to integrate SPY Imaging into the 3-D HD imaging capabilities of the da Vinci® Surgical Robotic System. The integrated system, called FIREFLY, received FDA 510(k) clearance in February 2011. In September 2010, Novadaq entered into an exclusive North American, sales and marketing alliance with LifeCell™ Corporation for SPY in open plastic and reconstructive, gastrointestinal and head and neck surgery. Then on November 30, 2011, Novadaq signed exclusive, multi-year sales and marketing agreements with Kinetic Concepts, Inc., for the commercialization of Novadaq’s SPY System in wound care applications and extended its alliance with LifeCell for additional markets including vascular surgery. Novadaq's cardiac surgery products include the SPY Imaging System for cardiac applications which is marketed through a direct sales team, and the CO2 Heart Laser™ System for TMR which, as of January 3, 2012, is distributed by MAQUET Cardiovascular.

Novadaq is a publicly traded company and is listed on the Toronto Stock Exchange (TSX), under the symbol NDQ.
 

Now what perked my interest was they are working with ISRG (current holding of mine) and LifeCell a KCI company that I owned before it was aquired (they produce some amazing mesh technology).  NDQ has a recuring revenue business model, which I love. 

However, I haven't had a chance to crunch any of the numbers or do any projections on market size and growth.  I'm wondering if any FOOLS have heard of this company or own it or researched it in the past?  Feedback?

 

Best,

GriderX

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