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Quarterly Review

4Q13/2013 Revenue: Medtronic

Fiscal 3Q14 ended 1/24/14: $744MM, flat (U.S. $517MM, -1%; ex-U.S. $227MM, +2%)

  • Core Spinal $631MM, flat (U.S. $419MM, -0.7%; ex-U.S. $212MM, +2%)
  • Biologics $113MM, -1% (U.S. $98MM, -2%; ex-U.S. $15MM, +7%)

 

  • Excluding balloon kyphoplasty, Core Spinal +2% globally, +1% U.S.
  • Spine markets continuing to stabilize, globally and U.S.       
  • BMP seeing signs of sequential stability in underlying demand
  • In accounts that have adopted Surgical Synergy program (intra-op imaging, navigation, powered surgical instruments), Core Spinal revenue growth is “significantly high”
  • Kanghui offsetting lost revenue from former Weigao joint venture, with ~20% of Kanghui revenue occurring ex-China; also noting strong growth in trauma
  • PRESTIGE LP next-gen cervical disc slated for U.S. launch this summer
  • FY15 launches include enhancements to interbody, cervical plate offerings