Medical Design Briefs - January 2024 - 8

Inside the OEM: Medtronic
The portable and modular Hugo™
RAS system is designed to move between
ORs and configured to fit patients and
procedures. The Evolut FX system is designed
to make TAVR procedures easier
to visualize and more predictable.
Radio paque gold markers provide a reference
for deployment depth and commissure
location. An optimized stability
layer increases catheter support during
deployment and provides 50 percent
less ventricular movement to enable
greater control. The re-engineered delivery
system expands flexibility for 360°
range of motion and increases conformability
to the anatomy for a 50 percent
reduction in tracking forces in challenging
anatomies.
Financial Strength
Parkhill emphasized Medtronic's robust
financial performance, with revenue
growing by 5 percent, surpassing the
company's expectations. Adjusted earnings
per share stood at $1.25, exceeding
the midpoint of the guidance range.
" Geographic diversification contributed
to broad-based growth, with notable
performance in Western Europe
and Japan, " she said. " Emerging Markets,
excluding Russia, experienced a 9
percent growth, with significant contributions
from the Middle East & Africa,
South Asia, Southeast Asia, and Latin
America. "
The Aurora EV-ICD system provides the life-saving
benefits of traditional ICDs while avoiding certain risks
because its lead (thin wire) is placed outside the heart
and veins. (Credit: Medtronic)
The Evolut FX system is designed to make TAVR procedures
easier to visualize and more predictable.
(Credit: Medtronic)
While gross and operating margins experienced
a decline, they exceeded expectations.
On a constant currency basis,
the adjusted operating margin increased
by 40 basis points. Efficiencies in expense
structure and a 90-basis-point improvement
in selling, general, and administrative
(SG&A) expenses focused
on stabilizing and improving margins.
Parkhill emphasized continued prioritization
of investments in innovation and
returning capital to shareholders.
Medtronic has underscored it commitment
to shareholders through an open
approach to additional capital returns
and a focus on high-growth, high-return
M&A opportunities. The full-year fiscal
24 organic revenue growth guidance
was raised to 4.75 percent, reflecting
the company's momentum and future
pipeline.
The MiniMed™ 780G system, a next generation closed loop insulin pump system for the treatment of type 1 diabetes.
(Credit: Medtronic)
8
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Martha expressed satisfaction with the
strong start to fiscal year 2024, reporting
mid-single digit organic revenue growth
for the first quarter. This growth was attributed
to execution, innovation, and
improved underlying fundamentals in
markets and the supply chain.
The performance of core businesses,
including cranial and spinal technologies,
surgical, and cardiac rhythm,
collectively contributed to 6 percent
organic growth. Cranial and spinal technologies
demonstrated 6 percent global
growth driven by the company's AiBLE™
ecosystem. AiBLE™ Surgical Suite is a
fully connected surgical suite for the
spinal and neurological OR that allows
surgeons to increase efficiency, predict
Medical Design Briefs, January 2024

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Medical Design Briefs - January 2024

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