CLAIM #40446 · Medtronic PLC (MDT) · 2024Q3 earnings call · Feb 20, 2024 · due Apr 30, 2025
“We expect our advantages will not only displace the competitor's device, we will expand the population far beyond the existing segment and be a strong growth driver for CRM.”
Geoff Martha · CEO
In context
“riven by the launch of our next-generation Micra AV2 and VR2 devices. We're also benefiting from the adoption of conduction system pacing, an alternative to traditional single or dual chamber pacing. Our 38-30 lead the only one on the market approved for conduction system pacing, continue to grow strong double-digits. In CRM, we also began training and the limited launch of our Aurora EV-ICD. We expect the EV-ICD to reaccelerate our Defibrillation Solutions growth in the coming quarters. As I've shared with you in the past, Aurora is a game-changer in the ICD space. It delivers the benefits of a traditional ICD including similar-size, longevity and pacing features. But without the leads in the harder veins, and these benefits can be realized with one device and only one implant procedure. We expect our advantages will not only displace the competitor's device, we will expand the population far beyond the existing segment and be a strong growth driver for CRM. Now turning to our synergistic businesses, combined they grew mid-single-digits in Q3. And I'll highlight some of the drivers here. Let's start with Aortic which grew 13% on supply recovery and continued momentum of our Endurant AAA franchise. Cardiac Surgery grew 10% driven by strength in Perfusion and Cannula and ECLS Oxygenators, given competitor quality issues and the strong sales in international markets of our Avalus surgical valve. Coronary grew 7%, driven by double-digit growth in both guide catheters and balloons. And we increased our drug-eluting stent share in the US and in Europe on the continued rollout of our Onyx Frontier drug-eluting stent. Now turning to businesses in our highest-growth markets. As I mentioned earlier, together these businesses grew in the high-single-dig”
Verify independently
SEC filings for MDT ↗ · Claim quote is verbatim from the 2024Q3 earnings call.