CLAIM #40329 · Medtronic PLC (MDT) · 2023Q4 earnings call · May 25, 2023 · due Apr 30, 2024
“We expect our U.S. Diabetes growth to ramp over time as our existing customers come up for renewal and as consumers switch to Medtronic.”
Geoff Martha · CEO
In context
“the U.S. as we execute our Expand URO pivotal trial. We also saw a meaningful acceleration in sales of our Touch Surgery Enterprise solution, which is the first AI powered surgical video, analytics platform for the operating room. With Hugo and touch surgery, we're bringing innovative solutions to surgeons around the world. And given the low penetration of robotic surgery and our strong position as a global leader in the surgical space, we expect to deliver meaningful growth over the coming years. And in diabetes, it was a big quarter for us, as our warning letter was lifted and we received FDA approval of our MiniMed 780G system with the Guardian 4 sensor. These products drove double-digit growth in Western Europe and we're very excited to begin shipping them to U.S. consumers next week. We expect our U.S. Diabetes growth to ramp over time as our existing customers come up for renewal and as consumers switch to Medtronic. Health care professionals and people living with diabetes are really going to appreciate the innovation we're delivering, particularly the advanced meal detection technology. And just this morning, we announced our intent to acquire EOFlow, the manufacture of the EOPatch, a tubeless, wearable and fully disposable insulin delivery device. The EOPatch is already available in Europe, South Korea and the UAE. And this will accelerate our speed to market in the fast growing patch pump space with a product that has demonstrated manufacturability. In addition, upon close, we'll work quickly to integrate our clinically proven meal detection technology algorithm, which is in the MiniMed 780G system into the EOPatch and seek marketing authorization. Look, we have not blinked when it comes to diabet”
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SEC filings for MDT ↗ · Claim quote is verbatim from the 2023Q4 earnings call.