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Key Updates on Medtronic’s Restorative Therapies Group

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Revenue trends

Medtronic’s (MDT) Restorative Therapies Group consists of spine, brain, specialty, and pain therapies. The segment generated net revenues of $1.9 billion in the first quarter of fiscal 2019 compared to $1.8 billion in the first quarter of fiscal 2018, reflecting an ~8% YoY increase.

In the first quarter of fiscal 2019, the segment’s spine, brain, speciality, and pain therapies reported revenues of $652.0 million, $599.0 million, $384.0 million, and $314.0 million, respectively, compared to $649.0 million, $522.0 million, $369.0 million, and $269.0 million in the first quarter of fiscal 2018. In the first quarter of fiscal 2019, Medtronic’s brain, speciality, and pain therapies witnessed ~15%, ~4%, and ~17% YoY growth, respectively.

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Recent developments

In September 2018, Medtronic launched the Infinity Occipitocervical-Upper Thoracic (or OCT) System in the US market. Medtronic’s Infinity OCT System simplifies posterior cervical spine surgery. Medtronic’s OCT system will be utilized for the treatment of individuals with degenerative disc disease, instability or deformity, and traumatic spinal fractures. Medtronic plans to launch the OCT System worldwide throughout 2018 and 2019.

Minimally Invasive Therapies Group

Medtronic’s Minimally Invasive Therapies Group’s net revenues declined from $2.5 billion in the first quarter of fiscal 2018 to $2.1 billion in the first quarter of fiscal 2019, reflecting a ~17% YoY decline. Medtronic’s Minimally Invasive Therapies Group consists of the Surgical Innovations and Respiratory, Gastrointestinal & Renal segments. In Q1 of fiscal 2019, the Minimally Invasive Therapies Group’s Surgical Innovations division generated revenues of $1.4 billion, while the Respiratory, Gastrointestinal, and Renal division generated revenues of $655.0 million.

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