Are Boston Scientific's Lotus Valve Woes Neovasc's Gain?This scenario puts Neovasc's Tiara in an interesting position with Boston Scientific's 15% equity stake in Neovasc...IMHO
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Last February, the company voluntarily recalled all its core Lotus Valve devices, including Lotus with Depth Guard. This dragged down its shares by 9.4% in the pre-market trading session (per an article on Medical Device and Diagnostic Industry). Sadly, again in November, Boston Scientific announced a further delay in the re-launch of the LOTUS Edge Aortic Valve System after it failed to meet the committed timeline, hurting shareholder sentiments even more. Per an article on the Medical Device and Diagnostic Industry, the company had opted out from the Piper Jaffray healthcare conference in New York on the same day, pulling down the stock by 7.5%, which was followed by a decline in its market cap by around $2.9 billion.
Meanwhile, rejoicing at this situation is Edwards Lifesciences Corporation EW, a leading player in the TAVR market. Encouragingly, the company’s shares have soared 45.4% since Lotus Valve devices’ recall last February."
Boston Scientific Lotus Valve Issues - Neovasc's Gain?