Abiomed

Abiomed Inc.
Traded as NASDAQ: ABMD
S&P 400 Component
Industry Medical Devices
Founded 1981
Headquarters Danvers, MA United States and Aachen, Germany
Key people
 Michael R. Minogue, CEO, President & Chairman of the board
Mr. Michael Tomsicek, CFO
Dr. David Weber, COO
Dr. Seth Bilazarian, CMO
Products Impella
AbioCor
iPulse
IAB
AB5000
BVS 5000
Revenue Increase US$329.5 Million (FY 2016)
Increase US$65.1 Million (FY 2016)
Increase US$38.1 Million (FY 2016)
Total assets Increase US$423 Million (FY 2016)
Total equity Increase US$369 Million (FY 2016)
Number of employees
 800 (2016)
Website www.abiomed.com

Abiomed (NASDAQ: ABMD) is a manufacturer of medical implant devices, including the AbioCor artificial heart and Impella. It is headquartered in Danvers, Massachusetts and has two additional offices, one in Aachen, Germany, and another in Japan. It has 800 employees worldwide.[1] Michael R. Minogue joined Abiomed in 2004, and serves as CEO, Chairman and President.

For fiscal year 2016, Abiomed reported $329.5 million in revenue, $65.1 million in operating income, $38.1 million in net income, $423 million in total assets, and $369 million in equity.[2]

History

Abiomed was founded in Danvers by David M. Lederman[3] in 1981 as Applied Biomedical Corporation, and began working on the development of an artificial heart.[4] Funded by federal research grants,[5] Lederman partnered with The Texas Heart Institute to develop the AbioCor, implanting the first artificial heart into a Kentucky man in July 2001.[6] Fourteen of the AbioCor devices were implanted, during clinical trials from 2001 to 2004, with the longest-living recipient surviving 512 days.[7] The AbioCor won FDA approval in 2006 for patients who are near death and do not qualify for a heart transplant.[8]

In 2004, Michael R. Minogue became president and CEO of Abiomed.[9] In 2005, Abiomed purchased ventricular assist device company Impella CardioSystems AG of Aachen, Germany,[10] maker of the Impella heart pump, developed by Thorsten Siess,[11] who is now the Chief Technology Officer at Abiomed.[12]

Since 2005, Impella heart devices have received a series of FDA approvals.[13]

In 2007, the Impella 2.5 heart pump was among 35 healthcare products to receive a 2007 Medical Design Excellence Award.[14]

Minogue helped found the Medical Technology Veterans Program (MVP), a career training and mentorship initiative designed to help veterans entering the civilian workforce transition into jobs in the medical device and life sciences industries.[15] He currently serves as chairman of the program.

See also

References

  1. ↑ "ABIOMED, Inc. - Press Releases". investors.abiomed.com. Retrieved 2016-07-19.
  2. ↑ "ABIOMED, Inc. - Press Releases". investor.abiomed.com. Retrieved 2016-08-09.
  3. ↑ Hevesi, Dennis (2012-08-28). "David Lederman, Pioneer of Artificial Heart, Dies at 68". The New York Times. ISSN 0362-4331. Retrieved 2016-07-19.
  4. ↑ Altman, Lawrence K. (2006-09-06). "Implantable Heart Device Receives F.D.A. Approval". The New York Times. ISSN 0362-4331. Retrieved 2016-07-19.
  5. ↑ Regalado, Antonio. "CPR for the Artificial Heart". Retrieved 2016-07-19.
  6. ↑ Altman, Lawrence K. (2001-12-01). "Man With Artificial Heart Dies 5 Months After Implant". The New York Times. ISSN 0362-4331. Retrieved 2016-07-19.
  7. ↑ Hevesi, Dennis (2012-08-28). "David Lederman, Pioneer of Artificial Heart, Dies at 68". The New York Times. ISSN 0362-4331. Retrieved 2016-07-19.
  8. ↑ Altman, Lawrence K. (2006-09-06). "Implantable Heart Device Receives F.D.A. Approval". The New York Times. ISSN 0362-4331. Retrieved 2016-07-19.
  9. ↑ "New Abiomed chief Minogue looks to pump up sales - Boston Business Journal". Boston Business Journal. Retrieved 2016-07-19.
  10. ↑ "Abiomed to pay $45M to buy Impella CardioSystems - Boston Business Journal". Boston Business Journal. Retrieved 2016-07-19.
  11. ↑ Burke, Alan. "How to mend a broken heart, and make millions". Retrieved 2016-07-19.
  12. ↑ "ABIOMED, Inc. - Management". investors.abiomed.com. Retrieved 2016-07-19.
  13. ↑ "A mobile lab about heart pumps stops in Lincoln". Retrieved 2016-07-19.
  14. ↑ "Abiomed Impella 2.5 Recognized for Innovative Design". Retrieved 2016-07-19.
  15. ↑ "About - MVPvets". Retrieved 2016-07-19.
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