Bill Hawkins, Medtronic’s CEO and chairman, attributed the company’s success to launching the Solera spinal system and introducing the Arctic Front Cryoballoon procedure for atrial fibrillation. Additional innovation in the cardiology business helped drive the increase in revenues.
The company reported revenue from its spinal business as $861 billion, an increase of 2 percent from the third quarter of 2010. Core Spinal revenue declined 1 percent, but Core Metal Construct grew by 2 percent. Biologics revenue increased10 percent, driven by the company’s acquisition of Osteotech.
Neuromodulation revenue was reported as $401 million, a 2 percent increase over last year. The increase was driven by the Deep Brain Stimulation system for movement disorders and the InterStim Therapy for overactive bladder and urinary retention.
Read the news release on the 3Q FY 2011 financial report for Medtronic.
Read other coverage on Medtronic:
– Medtronic Releases CD HORIZON SOLERA Spinal System
– Medtronic Reports $3.903B in Total Revenue for 2Q FY 2011, 2% Increase
– Medtronic Receives FDA 510(k) Clearance for Kyphon Xpander II
