Sorin Group turns to U.S. with new heart valve device
Italy's Sorin Group, still recovering from an earthquake-battered second-quarter, is refocusing its energies on product launches. The cardiovascular medical device maker is rolling out a new item in the U.S. meant to enable simultaneous implantation of an aortic tissue valve and ascending aorta.
Sorin bills the MitroFlow Valsalva Conduit as the only device of its kind with FDA approval for use along with an aortic tissue valve. And the product is designed to be used with the company's Mitroflow pericardial aortic valve, which has had FDA clearance since 2007.
CEO André-Michel Ballester said the product will help boost its U.S. tissue heart valve product line.
Sorin reported more than $205.3 million in revenue during its 2012 third quarter, and just more than $250,000 in net profit. Profits plunged nearly 100% from the same period in 2011, in large part because of continued fall-out from earthquakes in May 2012 that disrupted the company's Mirandola plant.
While other divisions--such as Sorin's cardiac rhythm management business--grew revenue, others weren't so fortunate. The company's heart valves business, at $36.3 million in revenue for Q3, is a small decline compared to 2011.