CLAIM #40524 · Medtronic PLC (MDT) · 2025Q1 earnings call · Aug 20, 2024 · due Apr 30, 2025
“We expect Sphere-9 will allow us to capture more revenue per procedure, as it will take the place of other competitors mapping and RF catheters.”
Geoff Martha · CEO
In context
“hat we said last quarter, our CAS growth rate accelerated in Q1, growing over 6%. We're seeing rapid market adoption of our PulseSelect PFA catheters, and its growth is more than offsetting [crowd declines] (ph). The PulseSelect launch has been successful, with more than 550 physicians in 20 countries having treated over 10,000 patients. To meet the strong market demand, we're dramatically increasing our PulseSelect catheter manufacturing capacity and expanding into new accounts. As a result, we expect PulseSelect to meaningfully accelerate our overall CAS growth rate through this fiscal year, including a strong acceleration in Q2. And then we have our differentiated Sphere-9 focal catheter. This all-in-one catheter can perform high-density mapping as well as pulse field and RF ablations. We expect Sphere-9 will allow us to capture more revenue per procedure, as it will take the place of other competitors mapping and RF catheters. We're in limited launch in Europe, and we've submitted to FDA for approval earlier this calendar year. As we launch and scale Sphere-9 and our fair mapping system, we expect our cash growth will accelerate even further over time, as we reach and then exceed market growth in this large and fast growing $9 billion cardiac ablation space. Next, in Structural Heart, we continue to deliver high single-digit growth excluding the impact of our Harmony Pulmonary Valve that we relaunched last year. During the quarter, we started with the limited US launch of our Evolut FX plus TAVR valve and have now begun full market launch this month. FX plus is important for two reasons: one, it allows for easier coronary access due to the large windows in its frame; and two it creates an additional opportunity”
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SEC filings for MDT ↗ · Claim quote is verbatim from the 2025Q1 earnings call.