Pinned straw:
Boston Scientific (NYSE: BSX)
Boston Scientific is a growing US med-tech company that has a market cap of $129 Billion USD. They do occupy a much more diversified space than Anteris: whilst Anteris is presently exclusively focussed on Aortic Valve Replacement (AVR), BSX’s products include pacemakers, defibrillators, catheters and many other small and expensive devices that surgeons put into your heart and blood vessels.
However, Boston’s Scientific’s foray into the US TAVR space has been underwhelming (link to October 2024 article). While Anteris CEO Wayne Paterson — and the Anteris Medical Advisory Board — have been touting Anteris’ clinical superiority to existing FDA approved TAVR products such as those of Edwards and Medtronic (BSX has European approval only), it is also clear that he thinks he has the measure of any other potential disruptors. Paterson often repeats that Anteris’ product development has been “surgeon led”.
You may also notice that the Dr Michael Reardon quoted in the above article is on the Anteris Medical Advisory Board (this slide is from the recent Anteris IPO roadshow):
Thanks @PabloEskyBruh for bringing this to the top of the deck.
I read the AGM slide deck with interest - this appears like a good prospect to follow! Possibly a takeover target for one of the bigger players...
The technology is very interesting, esp as they have multiple inter-related components / devices.
There are multiple structural tailwinds here - an increasing viability of TAVI in younger patients, and as the technology is better-accepted, widening indications for TAVI in all patients.
Just 10 years ago, these minimally-invasive transcatheter valve replacements were considered experimental and suitable for only very old or very unwell patients, for whom the risk of surgical valve replacement was considered too high. The use is increasing and is now a very accepted treatment for many patients. One reason they were limited to older patient's is that initially nobody knew how long they would last, and what to do if it failed or needed re-replacing.
The superior flow dynamics make this tech a good primary implant device, but also (apparently) very useful in what will soon be (in 2-10 years or so) a growing population of TAVI patients who need a re-do valve.
My first impression was that these Aussie upstarts couldnt possibly beat Medtronic, Abbott and Boston Scientific at their game. But I think there's a solid chance they will (and/or get bought up in the process)
I have to say @PabloEskyBruh your passion and undeniable knowledge of most things AVR have me on the verge of adding to my RL portfolio. (I'm holding only a few in my SM portfolio)
Looking forward to your further updates...
But also, there is still plenty I don’t know and no one can accurately predict anything right? Two years ago, for example, I wouldn’t have thought I needed to point out — when speaking of Anteris’ prospects — that there is a non-zero chance that this guy is the head of the FDA by mid 2025…
Buyer Beware!