The Cochlear Limited (ASX: COH) share price will be on watch this morning after the manufacturer and distributor of cochlear implantable devices released an update on its Nucleus Profile Plus Series.
What was in the update?
According to the release, Cochlear has now received U.S. Food and Drug Administration (FDA) approval for the Nucleus Profile Plus Series cochlear implant.
In light of this approval, the company advised that it will commence the launch of the products in the United States immediately. This comes hot on the heels of the launch of the product range in Germany in April.
What is the Nucleus Profile Plus Series?
Cochlear's Nucleus Profile Plus Series is the latest range of Nucleus implants that three decades worth of collaborative clinical and technical research work has created.
The latest implant has been designed for routine 1.5 and 3 Tesla magnetic resonance imaging scans without the need to remove the internal magnet.
This essentially means that users of the implant can undergo a scan such as an MRI without needing to remove the internal magnet or to apply a bandage and splint. This wasn't possible with previous implants, making the new implant much more manageable and convenient for its users.
It is also the thinnest implantable hearing solution on the market at just 3.9mm.
What else is Cochlear working on?
Whilst this new range is arguably the highest quality on the market now, management isn't resting on its laurels.
Earlier this year the company revealed its ambitions for a totally implantable cochlear implant technology. Whilst a commercially available product is not expected for years, it remains a long-term development goal for Cochlear.
According to that release, the new technology being studied "includes an implanted microphone, an implanted rechargeable battery, and an implanted sound processor. This means that the patients can choose between using an external sound processor, or taking it off and relying on the implanted microphone and internal sound processor, while still maintaining hearing function."
Ultimately, the aim is "to provide totally implantable cochlear implant technology that will enable people to hear with and without any externally worn components, helping them to have useful hearing 24 hours a day."
Innovation like this is why Cochlear's shares, and those of equally innovative healthcare stars CSL Limited (ASX: CSL) and ResMed Inc. (ASX: RMD), have generated outstanding returns for their shareholders over the last decade.
