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 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 [...]

Rodman starts Novadaq at outperform

Rodman & Renshaw has initiated coverage of Novadaq Technologies (TSX:NDQ) with a “market outperform” rating and 12-month price target of $6, saying the company’s SPY intra-operative fluorescent imaging technology represents a platform technology that could help in improving outcomes and / or reducing global costs using perfusion imaging. “Our valuation methodology employs a traditional discounted cash [...]

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 [...]

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 [...]