Seven insights from the third quarter of Medtronic’s fiscal year 2021:
1. Cranial and spinal technology revenue was $1.1 billion, a 3.2 percent decrease as reported year over year. There were mid-single-digit declines in spine revenue.
2. Medtronic’s restorative therapies group, which includes cranial and spinal technologies, specialty therapies, and neuromodulation divisions, reported third-quarter revenue of $2.1 billion, a 0.7 percent increase.
3. During the third quarter, Medtronic had sales growth of its Mazor robotics, O-arm imaging and Midas-Rex surgical instruments in the U.S.
4. Worldwide revenue was $7.8 billion, a 0.8 percent year-over-year increase.
5. Third-quarter net income was $1.27 billion.
6. U.S. revenue declined 2 percent year over year to hit $3.9 billion and represent 51 percent of total third-quarter revenue.
7. The company didn’t provide formal annual or quarterly financial guidance.
More articles on devices:
Will disc replacement supersede spinal fusion? 7 spine surgeons weigh in
FDA clears two surgical robots focused on imaging, spine
These CMS changes would significantly improve spine care: 6 surgeons weigh in
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.