Monday, October 13, 2008

Abiomed brings in record $20M in shipments

By Mass High Tech Staff

Medical device maker Abiomed Inc. has announced $20 million in shipments for fiscal year 2009 second-quarter shipments -- a record for the billed products and services. The amount signifies a 75 percent increase over fiscal year 2008’s second-quarter total shipments of $11.4 million.

The $20 million also improves on the first quarter of fiscal year 2009 shipments, valued at $16.6 million.

The increase in invoiced shipments may be due to the Impella consoles and disposables, which the company said grabbed $10.6 million in second quarter fiscal year 2009, as opposed to the $1.4 million in shipments in the same time for fiscal year 2008, an increase of 657 percent.

The Impella is designed to be inserted into the body through the femoral artery to access the left ventricle, and pumps 2.5 liters of blood per minute into the ascending aorta, according to Abiomed. The device is intended for use on patients in critical situations for up to six hours. Abiomed said the Impella is now cleared for the market in 40 countries, and it has been used in 1,500 patients.

The Danvers-based company has not yet determined how much of the invoiced shipments will transfer to revenue.

Abiomed, which employs about 300 workers, reported a loss of $27.8 million on revenue of $50.6 million for 2007.