CLAIM #40515 · Medtronic PLC (MDT) · 2024Q4 earnings call · May 23, 2024 · due Apr 25, 2025
“But we see in any given quarter, mid-single to high-single to double.”
Geoff Martha · CEO
In context
“ain markets like China shut down and then you had VBP. So the last couple of years have been choppy on emerging markets, I would say. But those fundamentals are coming back, right? VBP is almost like China is a big one there, right. VBPs are mainly behind us, not totally. You've seen, I'd say we're 80% of the way there. And you've seen the growth accelerating throughout the year for us. The last two quarters, double digits for China. When that last, call it, we don't think the -- there's a little bit of, I'll call it, hanging chads on VBP and the timing of those tenders in some of our smaller businesses in the like aortic or peripheral vascular, and there's a little bit left in neurovascular. When those hit, it could impact the quarter, so going from that double-digits down to mid-single. But we see in any given quarter, mid-single to high-single to double. But China is by and large back and the procedures are strong. And that's a big part of our emerging market business. And we're a combination there of import and local. That also gives us some strength our local product investments. And those local products also can be exported to other parts of the world. So I think the other thing we've done here over the last couple of years is empowered our emerging market leaders a bit more than we had in the past, and they're able to allocate resources, I think, more effectively to -- because the health care is local and these markets have different emphasis on different clinical areas. And some have more cath labs than others, and that makes a difference, for example. And so with our emerging market leaders able to have more influence and control ov”
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SEC filings for MDT ↗ · Claim quote is verbatim from the 2024Q4 earnings call.