How Medtronic’s Minimally Invasive Therapies Group Has Performed

Medtronic’s (MDT) Minimally Invasive Therapies Group (or MITG) consists of the Surgical Innovations (or SI), and Respiratory, Gastrointestinal & Renal (or RGR) segments.

Medtronic’s MITG segment generated revenues of $4.1 billion in the first half of fiscal 2019 compared to $4.4 billion in the first half of fiscal 2018, reflecting an ~8% YoY decline.

The MITG segment reported net revenues of $2.05 billion in the second quarter of fiscal 2019 compared to $1.95 billion in the second quarter of fiscal 2018, reflecting ~5% YoY growth.

In the US market, the MITG segment generated revenues of $2.65 billion over the first half of the second quarter of 2019 compared to $2.48 billion in the same period the prior year, reflecting ~7% YoY growth.

In the non-US developed region and emerging markets, the MITG segment’s revenues over the first half of fiscal 2019 amounted to $840.0 million and $451.0 million, respectively, compared to $788.0 million and $405.0 million in the same period the prior year, reflecting ~7% and ~11% YoY growth.

Medtronic’s (MDT) Surgical Innovations (or SI) segment generated revenues of $2.8 billion in the first half of 2019 compared to $2.7 billion in the same period the prior year, reflecting ~2% YoY growth. The SI segment reported revenues of $1.4 billion in the second quarter of fiscal 2019 compared to $1.3 billion in the second quarter of fiscal 2018, reflecting ~4% YoY growth.

Medtronic’s RGR segment generated revenues of $1.3 billion in the first half of fiscal 2019 compared to $1.7 billion in the first half of fiscal 2018, reflecting a ~23% YoY decline. The RGR segment generated revenues of $654.0 million in the second quarter of fiscal 2019 compared to $618.0 million in the second quarter of fiscal 2018, reflecting ~6% YoY growth.