How Did Medtronic’s Restorative Therapies Group Perform?
Medtronic’s (MDT) Spine Therapies generated revenues of $1.3 billion in the first half of fiscal 2019.
Dec. 14 2018, Updated 7:30 a.m. ET
Spine Therapies revenue trends
Medtronic’s (MDT) Spine Therapies generated revenues of $1.3 billion in the first half of fiscal 2019. Spine Therapies’ worldwide revenues over the first half of fiscal 2019 remained flat compared to the same period the prior year. Spine Therapies’ net revenues in the second quarter of fiscal 2019 amounted to $656.0 million.
In the US market, the Spine Therapies generated revenues of $900.0 million in the first half of fiscal 2019, reflecting a ~1% YoY decline.
Brain Therapies revenue trends
Medtronic’s (MDT) Brain Therapies generated revenues of $1.2 billion in the first half of fiscal 2019, reflecting ~11% YoY growth. The segment reported revenues of $618.0 million in the second quarter of fiscal 2019, which represents ~7% YoY growth.
The Solitare Platinum segment primarily contributed to the revenue growth of the Neurovascular and Neurosurgery segment. The consistent demand of the Mazor X robotic guidance system, the StealthStation S8 navigation system, and the O-arm imaging systems pushed the revenue growth of Medtronic’s Brain Therapies division in the second quarter of fiscal 2019.
Specialty Therapies revenue trends
Medtronic’s (MDT) Specialty Therapies generated revenues of $789.0 million in the first half of fiscal 2019 compared to $734.0 million in the same period the prior year, reflecting ~7% YoY growth. The Specialty Therapies segment reported revenues of $405.0 million in the second quarter of fiscal 2019, reflecting ~11% YoY growth.
The increase in the sales of InterStim neurostimulator in the US market pushed the revenue growth of the Specialty Therapies segment in the second quarter of fiscal 2019.
Pain Therapies revenue trends
Medtronic’s (MDT) Pain Therapies segment generated revenues of $628.0 million in the first half of fiscal 2019 compared to $533.0 million in the first half of fiscal 2018, reflecting ~18% YoY growth. The Pain Therapies segment reported revenues of $314.0 million in the second quarter of fiscal 2019, reflecting ~19% YoY growth.
In the Medtronic’s Pain Therapies segment, spinal cord stimulation primarily contributed to the segment’s revenue growth in the second quarter of fiscal 2019. The steady performance of the SynchroMed targeted drug delivery system also contributed to the revenue growth.