MedTech Dive May 25, 2023
The company is “confident in delivering durable revenue growth in the year ahead” amid continued improvements in procedure volumes.
Medtronic, the world’s largest medtech company by revenue, reported a 2.6% gain in fourth-quarter profit amid growth at its cardiovascular business and as procedure volumes continue to improve.
Minneapolis-based Medtronic also on Thursday announced a boost to its diabetes treatment portfolio with an agreement to buy a Korean diabetes tech firm EOFlow for 971 billion Korean won ($738 million).
CEO Geoff Martha said in a earnings statement that growth in the quarter ended April 28 exceeded the company’s forecasts with revenue rising 5.6% to $8.5 billion. Full-year sales dropped 1.4% to 31.23 billion, hurt in part by foreign-exchange fluctuations.
“Our accelerating...
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