Medtronic Posts FY1Q17 Revenue
ORTHOWORLD estimates Medtronic's (MDT) FY1Q17 revenue of US $721.0MM, -5.4% vs. FY1Q16. Quarter ended 7/29/16; growth is as-reported.
ORTHOWORLD estimates spine and orthobiologic segment sales and growth on an as-reported basis, as follows, for FY1Q17.
- Spine $598.0MM, -6.0%
- Orthobiologics $123.0MM, -2.4%
Per earnings call notes, MDT's Core Spine (hardware) revenue overall fell in low-single-digits, though U.S. growth was driven by new product launches.
MDT reported U.S. Infuse sales growth in high-single-digits, with pricing stable, while international sales of IndustOs continued to be affected by a shipping hold in Europe.
Further, the growth of spine products + spine imaging/navigation equipment, combined, hit high-single-digit growth in the U.S.
Received 2-level FDA Premarket Approval for Prestige LP
Received FDA 510(k) clearance to market the CD Horizon® Fenestrated Screw Set, indicated for treatment of advanced stage tumors in the thoracic and lumbar spine
Launched the Pivox™ Oblique Lateral Spinal System with Lateral Plate for OLIF25™ and Divergence-L™ Anterior/Oblique Lumbar Fusion System for OLIF51™.
Preparing to introduce Mazor X with Mazor Robotics at the 2016 NASS meeting
Sources: Medtronic, plc; ORTHOWORLD Inc.