Copy to clipboard 
ORTHOWORLD estimates Medtronic’s FY1Q18 revenue at US $728.0MM, +1.0% vs. FY1Q17. (Quarter ended 7/28/17) Sequentially, this growth is lower than FY4Q17’s increase of +3.0% YoY. Leadership estimates that the U.S. and global spine markets slowed in the period, but maintains its own share gains achieved in core spine.
ORTHOWORLD estimates spine and orthobiologic segment sales and growth on an as-reported basis, as follows.
| 2Q17 | 2Q16 | $ Change | % Change | |
| Spine | $608.0 | $598.0 | $10.0 | 1.7% |
| Orthobiologics | $120.0 | $123.0 | -$3.0 | -2.4% |
| Total | $728.0 | $721.0 | $7.0 | 1.0% |
| 1H17 | 1H16 | $ Change | % Change | |
| Spine | $1,234.0 | $1,215.0 | $19.0 | 1.6% |
| Orthobiologics | $253.0 | $243.0 | $10.0 | 4.1% |
| Total | $1,487.0 | $1,458.0 | $29.0 | 2.0% |
Performance highlights:
Revenue growth was supported by product launches like the Solera Voyager and Elevate, as well as an increase in synergies with navigation and powered surgical instrumentation platforms sold by the company’s neurosurgery unit. Mention was also made of strong growth in cervical disc arthroplasty, driven by Prestige LP. Product launches are expected to continue in core spine, though no specifics were given.
Traction continues to take hold in the Medtronic/Mazor partnership, and while no direct comment was made to confirm that relationship’s move to the next level of co-distribution, leadership noted a continuing expansion of the partnership and a chance to talk about it more in the next quarter.
Orthobiologics’ global growth was impacted by a change in product mix—in other words, sales of smaller sizes of bone morphogenetic protein. Ex-U.S., however, InductOs BMP has returned to the EU market after a shipping hold that took effect in late 2015/early 2016, we estimate.
No word was given on progress in the company’s orthopaedic program, despite FDA 510(k) clearance in July for the total hip system. The total knee is documented on the Medtronic Orthopedic Solutions website; no mention of the hip yet, there.
Sources: Medtronic plc; ORTHOWORLD estimates
ORTHOWORLD estimates Medtronic’s FY1Q18 revenue at US $728.0MM, +1.0% vs. FY1Q17. (Quarter ended 7/28/17) Sequentially, this growth is lower than FY4Q17’s increase of +3.0% YoY. Leadership estimates that the U.S. and global spine markets slowed in the period, but maintains its own share gains achieved in core spine.
ORTHOWORLD estimates...
ORTHOWORLD estimates Medtronic’s FY1Q18 revenue at US $728.0MM, +1.0% vs. FY1Q17. (Quarter ended 7/28/17) Sequentially, this growth is lower than FY4Q17’s increase of +3.0% YoY. Leadership estimates that the U.S. and global spine markets slowed in the period, but maintains its own share gains achieved in core spine.
ORTHOWORLD estimates spine and orthobiologic segment sales and growth on an as-reported basis, as follows.
| 2Q17 | 2Q16 | $ Change | % Change | |
| Spine | $608.0 | $598.0 | $10.0 | 1.7% |
| Orthobiologics | $120.0 | $123.0 | -$3.0 | -2.4% |
| Total | $728.0 | $721.0 | $7.0 | 1.0% |
| 1H17 | 1H16 | $ Change | % Change | |
| Spine | $1,234.0 | $1,215.0 | $19.0 | 1.6% |
| Orthobiologics | $253.0 | $243.0 | $10.0 | 4.1% |
| Total | $1,487.0 | $1,458.0 | $29.0 | 2.0% |
Performance highlights:
Revenue growth was supported by product launches like the Solera Voyager and Elevate, as well as an increase in synergies with navigation and powered surgical instrumentation platforms sold by the company’s neurosurgery unit. Mention was also made of strong growth in cervical disc arthroplasty, driven by Prestige LP. Product launches are expected to continue in core spine, though no specifics were given.
Traction continues to take hold in the Medtronic/Mazor partnership, and while no direct comment was made to confirm that relationship’s move to the next level of co-distribution, leadership noted a continuing expansion of the partnership and a chance to talk about it more in the next quarter.
Orthobiologics’ global growth was impacted by a change in product mix—in other words, sales of smaller sizes of bone morphogenetic protein. Ex-U.S., however, InductOs BMP has returned to the EU market after a shipping hold that took effect in late 2015/early 2016, we estimate.
No word was given on progress in the company’s orthopaedic program, despite FDA 510(k) clearance in July for the total hip system. The total knee is documented on the Medtronic Orthopedic Solutions website; no mention of the hip yet, there.
Sources: Medtronic plc; ORTHOWORLD estimates
You are out of free articles for this month
Subscribe as a Guest for $0 and unlock a total of 5 articles per month.
You are out of five articles for this month
Subscribe as an Executive Member for access to unlimited articles, THE ORTHOPAEDIC INDUSTRY ANNUAL REPORT and more.
JV
Julie Vetalice is ORTHOWORLD's Editorial Assistant. She has covered the orthopedic industry for over 20 years, having joined the company in 1999.
