CLAIM #40346 · Medtronic PLC (MDT) · 2023Q4 earnings call · May 25, 2023 · due Oct 31, 2023
“We completed enrollment for ferrous persistent (ph) trial in December. So we expect that, that one-year endpoint will be reached mid of this fiscal year.”
Sean Salmon · EVP
In context
“f you could talk maybe a little bit more about how you expect to -- the time line for that is big as you can? And then how you expect to sort of navigate this perceived pressure on the single shop market? And I have just one follow-up, if I might. Geoffrey Martha: Sure. Yeah. Well, thanks for that, Matt. It's exciting for the industry, and we believe we're well positioned in those tailwinds you just mentioned. So it is good to see, and I'm going to ask Sean to answer the specific questions around PFA and how we're positioned there. Sean Salmon: Yeah, Matt. We really like our position. As you know, we've maintained a CE Mark for our point-by-point solution in Europe, and we just filed the PMA for our single-shot product in the United States and we'll have a data readout sometime next year. We completed enrollment for ferrous persistent (ph) trial in December. So we expect that, that one-year endpoint will be reached mid of this fiscal year. In terms of how we see the shift, obviously, we've got 85% of the market to play in, in point by point. And we have the other segment that we've been really strong in with Cryo at 15%. And I think as we initially launched into Europe, that's a much bigger opportunity for us as we go to point-by-point solutions. And when we come to the United States being among the first in PFA solutions and all of those are going to be anatomical or single shot. I think we'll garner interest from that 85% of the market that really wants to get to PFA, and they don't need to do that. So I think while you have the potential for some erosion of your base in anatomical, you also have the attraction of having the very first PFA offering coming in for anatomical solutions that will pull interest from 85% pool.”
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SEC filings for MDT ↗ · Claim quote is verbatim from the 2023Q4 earnings call.