Medtronic Q2 spine revenue up 5.5%, Titan Spine adds $16M: 5 notes

Laura Dyrda -   Print  |

Medtronic reported $7.7 billion revenue for the second quarter of the 2020 fiscal year, a 3 percent increase year over year, and Titan Spine added $16 million.

Five things to know:

1. Medtronic closed the acquisition of Titan Spine earlier this year and it joined the company's spine division in the restorative therapies group, which reported a 6 percent increase in revenue to $2.1 billion.

2. Medtronic's spine division revenue was up 5.5 percent to $692 million, and combined with its robotic, navigation, imaging and power surgical instruments used in spine, global and U.S. revenue was up in the high single digits.

3. The cervical spine products revenue was up in the mid-single digits driven by Infinity OCT system and Prestige LP cervical disc system sales.

4. Both spinal robotics, with the Mazor technology, and Infuse bone graft sales grew in the low-double digits.

5. Pain therapies was relatively flat at $315 million in quarterly revenue. Medtronic's Kyphon balloon kyphoplasty and OsteoCool radiofrequency ablation system sales drove low-double-digit growth for the interventional pain business. However, the pain stimulation sales declined due to a slowdown in the market.

More articles on orthopedic devices:
New Jersey hospital completes 2 M6-C artificial cervical disc surgeries
29 orthopedic devices receive FDA 510(k) clearance in October
5 big spine device companies making deals in 2019

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