Five notes:
1. Quarterly revenue increased 5.3% year over year. The company’s cardiovascular portfolio saw 6.1% growth year over year with $3.1 billion, and its medical surgical portfolio grew 1.2% year over year with $2.1 billion.
2. Medtronic’s neuroscience portfolio saw a 7.1% increase in revenue year over year with $2.5 billion.
3. Cranial and spinal technology sales were $1.2 billion, a 6.7% increase year over year. Specialty therapies grew 4.6% with $737 million in sales.
4. Neuromodulation sales saw significant gains with $480 million, a 12.6% increase year over year.
5. Medtronic saw $1.3 billion in net income. The company is also raising its full-year guidance for fiscal year 2025 to 4.75% to 5% growth year over year.
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.