Is Cardinal Health Advancing Surgical Safety with New SmartGown?
Cardinal Health (CAH) recently introduced the SmartGown EDGE Breathable Surgical Gown with ASSIST Instrument Pockets in the United States. This innovative product aims to enhance safety and efficiency in surgical procedures by providing surgical teams with convenient instrument access in the operating room.
The SmartGown, exclusively available from CAH, is designed to hold one recommended instrument per pocket during surgical procedures, effectively streamlining handling processes and allowing clinical teams to focus on delivering safe patient care. The gown’s pockets also facilitate the storage of frequently used instruments, minimizing the need for instrument handoffs or exchanges during a procedure. This not only saves time but also reduces the risk of potential contamination and unintentional instrument drops outside the sterile area.
In terms of protection, the SmartGown is rated AAMI level 4, providing a high level of protection against fluid exposure and blood-borne pathogens, in line with United States regulations. It is a result of collaboration between Cardinal Health and Mayo Clinic, co-invented by renowned heart surgeons Joseph Dearani and Salim Walji.
Cardinal Health’s performance in the stock market has been notable, with shares rising by 33.7% year to date, surpassing the industry’s growth of 8.1% and the S&P 500 Index’s increase of 15.2% in the same period.
According to a report by Grand View Research, the surgical gown market was valued at $4.8 billion in 2022 and is projected to reach $12.8 billion by 2030, with a compound annual growth rate (CAGR) of approximately 12.9%. This growth is attributed to the increasing number of surgeries globally. Considering this significant market potential, the launch of the SmartGown is expected to contribute substantially to Cardinal Health’s business.
In addition to the SmartGown, Cardinal Health has been proactive in launching other innovative products and reporting positive financial results. Last month, the company introduced its next-generation Kangaroo OMNI enteral feeding pump in the United States, designed to offer more options for patients requiring enteral feeding. Furthermore, Cardinal Health reported promising first-quarter fiscal 2024 results, indicating growth in its overall top line and specifically in its Pharmaceutical segment. The company also launched the NTrainer System 2.0 in August, aimed at reducing the length of stay for premature and newborn infants in neonatal intensive care units.
Zacks Rank & Other Stocks to Consider
Cardinal Health currently holds a Zacks Rank #2 (Buy). In the broader medical space, other top-ranked stocks include HealthEquity (HQY), Merit Medical Systems (MMSI), and Cencora (COR), each offering strong growth potential and favorable performances in their respective niches.
The introduction of the SmartGown represents Cardinal Health’s commitment to advancing safety and efficiency in surgical settings. With a strong market performance and a history of introducing innovative products, Cardinal Health proves to be a promising player in the medical sector.
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