Baxter International Inc. BAX recently announced that Hamilton Health Care System will now be the first health system in the United States to utilize the former’s new PrisMax system. This new and advanced technology is expected to enhance patient care.
For investor’s notice, Baxter’s innovative PrisMax system for managing acute kidney injury (AKI) has received the FDA approval and is available in the Unites States. This in turn will boost Baxter’s Acute Therapies profile.
PrixMax System at a Glance
The innovative PrisMax system has been created with the help of real-world input from more than 650 healthcare providers globally. The system provides advanced technology that can be used for the treatment of critically injured patients.
Notably, PrisMax is available in the intensive care units in more than 20 countries across Europe and Asia-Pacific. Per management, the company plans to bring additional markets on board through 2020.
Adoption of PrisMax System
With the adoption of the new innovative system, Hamilton Health Care expects to improve its critical care services that include the capability to offer treatment to those patients developing AKI. PrisMax system consists of new digital health features that will enable hospitals to connect the system to electronic medical record (EMR) platforms.
As a result, the nurses will have to spend less time the ICU to manually document treatment data, which in turn lower the risk of transcription errors.
Baxter’s Acute Therapies Profile Update
Baxter’s performance in acute therapies is being driven by improving utilization for CRRT globally, and increased demand for multi-organ support products. In fact, the second quarter 2019 performance primarily came on the back of ongoing rollout of the PrisMax next-generation technology for CRRT and Therapeutic Plasma Exchange.
For the Acute Therapies business, Baxter, which is a worldwide leading player in acute care, expects growth of approximately 7% to 8% on a year-over-year basis in 2019.
Per a report by Reuters, according to Stratistics MRC, the global electronic medical records market accounted for $10 billion in 2017 and is projected to reach $24.57 billion by 2026 at a CAGR of 10.4% during the forecast period.
Continued increase in the need to reduce healthcare costs and rising government support for the acceptance of EMRs are the factors driving the market growth.
Some other key players in the medical products space are Stryker Corporation SYK, Haemonetics Corporation HAE and NuVasive, Inc. NUVA.
Stryker is reputed to be one of the world’s largest medical device companies operating in the global orthopedic market. The company has three business segments: Orthopaedics, MedSurg, and Neurotechnology & Spine.
Haemonetics Corporation provides blood management solutions to customers encompassing blood and plasma collectors, hospitals and health care providers globally.
NuVasive is one of the leading global medical device companies in the global spine market, focused on developing minimally-disruptive surgical products and procedurally-integrated solutions for the spine.
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