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Quarterly Review

3Q13 Revenue: Medtronic

(for FY2Q14 ended 10/25/13)

$746MM, -3% (U.S. $517MM, -6%; ex-U.S. $229MM, +2%)

  • Core Spinal $636MM, -1% (U.S. $421MM, -2%; ex-U.S. $215MM, +2%)
  • BMP $110MM, -17% (U.S. $96MM, -19%; ex-U.S. $14MM, flat)


  • Excluding balloon kyphoplasty, core spinal flat worldwide, -1% U.S.
  • Core spine growing in upper-single-digits in those accounts that have adopted O-Arm technology
  • A little less benefit from positive mix, overall procedure growth rate is flat, pricing stable in the low- to mid-single-digits
  • Performance softer in the U.S., Germany, Japan, Latin America
  • Surgeons continue to reduce Infuse use via patient selection, smaller kits
  • Following U.S. launch of Prestige LP cervical disc, planning series of cervical plate launches in FY15
  • Will bolster interbody line with new products, including next-generation expandable cages