His compensation increased 2.6 percent from 2016, when he received $15.3 million. For the full 2017, Medtronic reported $29.7 billion in revenue, a 3 percent increase over 2016. In 2018, the company expects revenue to grow 4 to 5 percent.
In the first quarter of the 2018 fiscal year, Medtronic reported $7.39 billion in revenue, with U.S. revenue increasing 1 percent to $4 billion. U.S. revenue accounts for 55 percent of the company’s overall revenue.
Medtronic made several key moves over the past year, including an investment in Mazor X systems, its robotic guidance system for spinal surgery. Medtronic initially signed a $20 million equity investment in Mazor and now owns 7.27 percent stake in the company.
More articles on spine devices:
20 spine devices receive FDA 510(k) clearance in July
US knee implant market to grow at 5.3% through 2024
Berkeley Medical Center installs 1st Mazor X in West Virginia
At the Becker's 23rd Annual Spine, Orthopedic and Pain Management-Driven ASC + The Future of Spine Conference, taking place June 11-13 in Chicago, spine surgeons, orthopedic leaders and ASC executives will come together to explore minimally invasive techniques, ASC growth strategies and innovations shaping the future of outpatient spine care. Apply for complimentary registration now.
