Taglich Brothers, Inc. announces it initiated coverage of Novadaq Technologies Inc. (TSX: NDQ).
Novadaq Technologies Inc., headquartered in Mississauga, Ontario, Canada, has commercialized SPY imaging, a patented visualization technology that enables surgeons to monitor circulation and tissue perfusion intraoperatively, facilitating surgical mapping and revisions during major procedures.
The technology can also visualize lymphatic systems, potentially detecting the extent of lymph node involvement in cancer cases, and differentiate between normal and cancerous tissue on the margins of a surgical resection.
SPY imaging is currently used mainly in cardiac bypass and breast reconstruction surgical procedures. The technology can potentially be applied over a wider range of surgeries, including urological, gynecological, and gastrointestinal procedures. SPY has been adapted to open, minimally invasive and robotic surgery.
Recent studies have demonstrated improvements in surgical outcomes, reductions in post-operative complications and cost savings stemming from the adoption of fluorescence angiography. These results should underlie wide acceptance of Novadaq's SPY systems, which are adaptable for use in a wide variety of major surgeries. SPY systems have so far been used widely in post-mastectomy breast reconstruction and coronary artery bypass graft procedures. Variants of SPY have been developed for use in urological, gastrointestinal, and organ transplant procedures. The technology has also been refined for use in rigid endoscopes, making it useful in minimally invasive surgery.
The complete 22-page report is available at www.taglichbrothers.com.
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