Medtronic Shuffling the Deck at Its Restorative Therapies Group
Medtronic (NYSE:MDT) is shuffling the deck at its restorative therapies group as it looks to boost its ailing spine and neuromodulation businesses.
Fridley, Minn.-based Medtronic said yesterday that restorative therapies sales were up just 1% to $1.88 billion, including a -1% decline for its spine division at $737 million and a -5% slide to $494 million in neuromodulation.
Discussing the company’s fiscal 4th-quarter results with analysts yesterday, chairman & CEO Omar Ishrak said a “speed to scale” program in spine helped drive a steady cadence of new product launches, resulting in “a sequential improvement to our growth rate” for the business.
Fridley, Minn.-based Medtronic said yesterday that restorative therapies sales were up just 1% to $1.88 billion, including a -1% decline for its spine division at $737 million and a -5% slide to $494 million in neuromodulation.
Discussing the company’s fiscal 4th-quarter results with analysts yesterday, chairman & CEO Omar Ishrak said a “speed to scale” program in spine helped drive a steady cadence of new product launches, resulting in “a sequential improvement to our growth rate” for the business.