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Opsens Inc
Symbol OPS
Shares Issued 106,989,289
Close 2021-09-22 C$ 3.09
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Globe says Opsens seen as "natural" acquisition target

2021-09-22 08:04 ET - In the News

The Globe and Mail reports in its Wednesday, Sept. 22, edition that Opsens received approval from Health Canada on Monday to start the first in-man study with its SavvyWire transcatheter aortic valve replacement (TAVR) device. The Globe's David Leeder writes in the Eye On Equities column that Raymond James analyst Rahul Sarugaser now sees Opsens as a "natural" acquisition target by U.S. giant Edwards Lifesciences. Accordingly, Mr. Sarugaser is keeping his "outperform" rating intact. Meantime, he elevated his share target by $3.25 to $6. Analysts on average target the shares at $3.79. Mr. Sarugaser calls SavvyWire a "disruptive" technology and a "transformative" opportunity for the company. He sees suitor interest growing ahead of potential clearance from the U.S. Food and Drug Administration early in the second half of 2022. Mr. Sarugaser says in a note: "Today, most valve-placing guidewires used in TAVR procedures are sold by Medtronic and Boston Scientific, but these companies don't sell the lion's share of the valves used in TAVR, driving a collective 33 per cent of the 2021 TAVR market. The other 66 per cent of the TAVR market is owned by Edwards Lifesciences, driven almost exclusively by sales of its valves."

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