Yahoo Finance Senseonics' (SENS) Deal With Mercy to Drive Eversense CGM Sales
Senseonics Holdings, Inc. SENS and Mercy, a leading healthcare system based in St. Louis, have inked a collaboration deal to revolutionize diabetes population health management. This partnership leverages Senseonics' Eversense Continuous Glucose Monitor (CGM) technology and Mercy's expertise in remote patient monitoring to enhance patient care and drive innovation in diabetes management.
The collaboration marks the first utilization of Senseonics' Eversense CGM technology across a healthcare system. Providers at Mercy plan to begin placing new Eversense devices with patients this July followed by other regions covered by Mercy throughout 2025.
Price Performance
The stock has declined 14% year to date compared with the industry’s 16.6% decline. The S&P 500 Index has increased 9.8% in the same period.
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Deal to Boost Eversense CGM Adoption
Unlike traditional CGM systems, Eversense offers a unique approach to diabetes management by providing continuous glucose monitoring for up to 180 days. This extended monitoring period, combined with the new Eversense Remote Patient Monitoring (RPM) solution, allows for more accurate and timely interventions, leading to improved patient outcomes.
Mercy, a leading healthcare system and accountable care organization, has a strong track record in RPM. With more than 3 million patients served annually, Mercy is well-positioned to implement the Eversense CGM+RPM program across its network. This program is expected to benefit approximately 30,000 Mercy patients, with plans to expand throughout Mercy's system in Missouri, Kansas, Arkansas and Oklahoma.
The goal of the Eversense RPM program is to ensure that all patients who could benefit from Eversense have access to the technology within the next 24 to 36 months. By improving glucose monitoring and providing ongoing coaching and guidance, Mercy aims to reduce emergency room visits and hospitalizations due to diabetes-related complications, leading to significant cost savings and better health outcomes for patients.
Notable Developments
Earlier this month, Senseonics signed a strategic partnership with clinical management platform provider, Rimidi, to develop an RPM program. This deal will also focus on developing the Eversense RPM program for use by healthcare providers.
In April, the company received integrated CGM (iCGM) designation for its Eversense CGM system, which will allow the device to integrate with compatible medical devices, like insulin pumps, as part of an automated insulin delivery system.
The company also filed a 510(k) submission with the FDA seeking iCGM designation for its next-generation Eversense 365-day system during the first quarter.
Senseonics Holdings, Inc. Price
Senseonics Holdings, Inc. price | Senseonics Holdings, Inc. Quote
Zacks Rank & Stocks to Consider
Senseonics currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are DaVita Inc. DVA, Align Technology ALGN and Medpace MEDP.
DaVita, sporting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 13.6%. Its earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 29.4%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s shares have risen 30.3% compared with the industry’s 9.5% growth year to date.
Medpace, sporting a Zacks Rank of 1 at present, has an estimated long-term growth rate of 17.9%. Its earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 12.8%.
Medpace’s shares have risen 27% year to date compared with the industry’s 3.5% growth.
Align Technology, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 6.9%. Its earnings surpassed estimates in three of the trailing four quarters and missed the same in one quarter, delivering an average surprise of 5.9%.
ALGN’s shares have declined 0.5% year to date against the industry’s 2.3% growth.
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DaVita Inc. (DVA) : Free Stock Analysis Report
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Medpace Holdings, Inc. (MEDP) : Free Stock Analysis Report
