ABIOMED


CONTACT
Abiomed
Inc. 22 Cherry Hill Drive Danvers
MA 01923
USA
Phone: 978.646.1400
Fax: 978.777.8411
Clinical Support
24 hours a day, 7 days a week 1.800.422.8666
U.S. Field Service: 978.646.1700
European Emergencies: +49.0.1805.2246633

FINANCE
Income Statement
Income Statement

Revenue

3/31/2017

3/31/2016

3/31/2015

Total Revenue

445,304

329,543

230,311

Cost of Revenue

70,627

50,419

39,945

Gross Profit

374,677

279,124

190,366

Operating Expenses
Research Development

66,386

49,759

35,973

Selling General and Administrative

218,153

164,261

125,727

Non Recurring

Others

Total Operating Expenses

Operating Income or Loss

90,138

65,104

28,666

Income from Continuing OperationsAll numbers in thousands
Total Other Income/Expenses Net

1,205

734

99

Earnings Before Interest and Taxes

91,343

65,838

28,765

Interest Expense

Income Before Tax

91,343

65,838

28,765

Income Tax Expense

39,227

27,691

-84,923

Minority Interest

Net Income From Continuing Ops

52,116

38,147

113,688

Non-recurring Events
Discontinued Operations

Extraordinary Items

Effect Of Accounting Changes

Other Items
Net Income
Net Income

52,116

38,147

113,688

Preferred Stock And Other Adjustments

Net Income Applicable To Common Shares

52,116

38,147

113,688

DESCRIPTION

Abiomed (NASDAQ: ABMD) is a leading provider of medical devices that provide circulatory support. Our products are designed to enable the heart to rest by improving blood flow and/or performing the pumping of the heart. CEO, Chairman, and President Michael R. Minogue has focused the company’s efforts on developing ground-breaking technologies designed to improve the patient outcomes focused on native heart recovery. Founded in 1981 for the purpose of developing the world’s first artificial heart, Abiomed has remained dedicated to finding ways to bring the most advanced and beneficial technology to patients and physicians.

HISTORY

IAbiomed was founded in Danvers by David M. Lederman in 1981 as Applied Biomedical Corporation, and began working on the development of an artificial heart. Funded by federal research grants, Lederman partnered with The Texas Heart Institute to develop the AbioCor, implanting the first artificial heart into a Kentucky man in July 2001. Fourteen of the AbioCor devices were implanted, during clinical trials from 2001 to 2004, with the longest-living recipient surviving 512 days. The AbioCor won FDA approval in 2006 for patients who are near death and do not qualify for a heart transplant.
In 2004, Michael R. Minogue became president and CEO of Abiomed. In 2005, Abiomed purchased ventricular assist device company Impella CardioSystems AG of Aachen, Germany, maker of the Impella heart pump, developed by Thorsten Siess, who is now the Chief Technology Officer at Abiomed.
Since 2005, Impella heart devices have received a series of FDA approvals.
In 2007, the Impella 2.5 heart pump was among 35 healthcare products to receive a 2007 Medical Design Excellence Award.
Minogue helped found the Medical Technology Veterans Program (MVP), a career training and mentorship initiative designed to help veterans entering the civilian workforce transition into jobs in the medical device and life sciences industries. He currently serves as chairman of the program.

TECHNOLOGY

 

Impella heart pumps ventricular assist devices for high-risk PCI procedures
While Abiomed was founded in 1981, it received its first pre-market approval from the FDA only in March 2015. Impella 2.5 was approved for use during elective and high-risk percutaneous coronary intervention or PCI procedure in the USA. And this is how, this small company launched a smallest heart pump in the market, capable of restoring the ability of the patient’s native heart to pump blood.


Most often, patients undergoing PCI procedure suffer from coronary artery disease, where there is buildup of plaque in coronary arteries causing restricted blood and oxygen supply to the heart muscle. This can ultimately result in heart failure, where the heart is unable to pump sufficient blood. Around 900,000 patients fall prey to coronary artery disease annually in the U.S. Interventionnal cardiologist may use the Impella for high risk PCI.