Novadaq partnering strategy hits marketing milestone

Novadaq Technologies (TSX:NDQ), a maker of real-time fluorescence imaging products for the operating room, reached a significant milestone earlier this month when it named MAQUET Cardiovascular as the exclusive distributor of its CO2 Heart Laser system in the U.S. “We have now completed our strategic agenda of partnering each one of our first four surgical [...]

JMP starts Novadaq at market outperform

JMP Securities has initiated coverage of Novadaq Technologies (TSX:NDQ) with an “outperform” rating and 12-month price target of $7. The stock closed at $4.72 on Monday SPY is a breakthrough imaging system that allows surgeons to visualize blood flow and perfusion in real-time. The company has established partnerships with LifeCell and Intuitive Surgical, which “in [...]

Novadaq in sales and marketing pact with Kinetic

Novadaq Technologies (TSX:NDQ) has signed exclusive multiyear sales and marketing agreements with Kinetic Concepts Inc. and its LifeCell business unit for the commercialization of Novadaq’s SPY system in additional surgical and wound-care applications. Under the accord, KCI will pay Novadaq exclusivity payments consisting of $3 million up front and additional milestone payments. KCI and Novadaq [...]

Novadaq shipments exceed expectations

Combined third quarter shipments of fluorescence imaging systems by Novadaq Technologies (TSX:NDQ) exceeded expectations by reaching a total of 165, CEO Dr. Arun Menawat said in the third quarter report. “Since the launch of SPY Elite in February and the da Vinci fluorescence imaging system in July, the primary sales focus for our two partners, [...]

Novadaq ships 165 fluorescence imaging units in Q3

Novadaq Technologies (TSX:NDQ) shipped a total of 165 fluorescence imaging systems during the third quarter, compared with 92 shipments in the second quarter of 2011, and topping management’s earlier estimate of 80 systems discussed during the company’s second quarter conference call on Aug. 4. “We are delighted with the continued momentum of SPY Imaging technology [...]

Novadaq SPY deliveries to triple in second quarter

Novadaq Technologies (TSX:NDQ) expects to deliver about 70 of its SPY surgical imaging systems in the current second quarter, compared with 20 installations by its two partners in the first three months of 2011. The SPY fluorescence imaging system allows surgeons to intra-operatively capture, view and archive high quality image sequences of blood flow in [...]

Prescription for growth

We, at biotuesdays.com, attended Dundee Capital Markets’ second emerging growth conference last week, where over 20 technology, life sciences and industrial growth companies presented. Dundee specializes in early-stage growth, and to say that the one-day showcase was jammed full of investment ideas is a bit of understatement. Here’s a sampling of what we took away [...]

Novadaq inks SPY imaging deal with LifeCell

Novadaq Technologies (TSX:NDQ) has signed a five-year agreement with LifeCell for exclusive rights to market and distribute its SPY imaging system in the fields of open plastic reconstructive, gastrointestinal, and head and neck surgery in North America. Under the accord, LifeCell will pay Novadaq $5 million (U.S.), including a $1 million investment by LifeCell’s parent [...]

Dundee selects Novadaq as top pick

Calling Novadaq Technologies (TSX:NDQ) its “top pick” in the healthcare sector, Dundee Securities analyst David Martin figures the medical devices company can “at least triple revenues by 2012.” He rates the stock a “buy, speculative risk,” with a 12-month price target of $7.10. The stock closed at $3.50 on Friday, with a 12-month trading range [...]