Novadaq Tech Inc Success

These days are not the best days of the health care technology. Most of the stocks in health care drops in Canada including one of the biggest biomedical company based in Ontario called Novadaq Technologies Inc. (TSX: NDQ) According to Canadian Business journal, but what is very impressive about this particular company?

Coronary bypass surgery is one of the most common surgeries these days in which arteries from other parts of the patient are used to replace the blocked vessels. Usually 10% to 20% of such surgeries led to othe medical intervention(Canadian Business,2007).
Spy is an embedded system developed by Novadaq which can monitor the coronary surgery in real time. It helps the surgery to be so successful that insurance companies provided reimbursment for unsuccessful surgeries.

Spy was developed after after Dr.John Docherty and his graduate student "discovered a laser light could track the progress of the harmless dye,indocyanine green, though thr body's circulatory system"(Canadian business,2007).

Now a days, almost 400,000 bypass surgeries are being done only at US annually and Novadaq earn 600$US to 800$US from each surgery.

They are expanding the Spy's ability to be able to help surgens in other surgeries too.

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PS.
Company -----TICKER(TSX) -----1 year totat return (%) -----Market Cap(mil$)
(Biomed)

Novadaq Tech Inc -----NDQ ----- -9.0 ----- 180

Monogen Inc. -----MOG----- 95.7 ----- 164

Image Dynamics Co. ----IDL ----- -70.2 ----- 78