Medtronic Plc - Company Profile

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Medtronic Plc: Segment Analysis

Business Description

Medtronic Plc (Medtronic), formerly Medtronic Inc, manufactures and markets products for cardiac rhythm management, spinal, neuromodulation, cardiovascular, diabetes and minimally invasive and surgical procedures.

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R&D Overview

Medtronic harnesses its engineering and technical capabilities to advance new products and services; and improve its production processes. It also develops technologies that facilitate the identification of new indications for existing products. The company focuses on advancing existing products, introducing new therapies, and exploring less invasive technologies for emerging markets. The company aims to reduce patient care costs, shorten hospital stays, and address unmet clinical needs. It emphasizes optimizing innovation, enhancing R&D productivity, and generating clinical evidence to create new standards of care and foster growth in emerging markets. The company spent US$2,696 million on its R&D, which as a percentage of revenue, stood at 8.6% in FY2023. Medtronic owns patents, trademarks, trade names, trade secrets, and copyrights of its products and associated technologies.

Business Segments

Overview

-Comprises Cardiac Rhythm & Heart Failure (CRHF), Structural Heart & Aortic (SHA) and Coronary & Peripheral Vascular (CPV) divisions and provides a broad spectrum of minimally invasive products and therapies for coronary artery disease, abdominal and thoracic aortic aneurysms, peripheral vascular disease and heart valve disorders. -CRHF division provides products for the diagnosis, treatment, and management of heart rhythm disorders and heart failure. Principal products include implantable cardiac pacemakers, implantable cardioverter defibrillators (ICDs), implantable cardiac resynchronization therapy devices (CRT-Ds and CRT-Ps), atrial fibrillation (AF) products, and diagnostic and monitoring devices. It also offers care management services, Cath Lab Managed Services (CLMS), remote monitoring services and patient-centered software for the telehealth domain. -SHA division provides products to treat coronary artery disease (CAD) and heart valve disorders. Its major products include coronary stents, balloon angioplasty catheters, guide catheters, guide wires, diagnostic catheters, and accessories. It also offers products for the repair and replacement of heart valves, perfusion systems, positioning and stabilization systems for beating heart revascularization surgery, and surgical ablation products. -The CPV division offers products to treat aortic diseases and peripheral vascular disease (PVD). Its major products include endovascular stent grafts and peripheral vascular intervention (PVI) products. Views product innovation as a major factor for the growth of the segment. The company believes that continued growth and acceptance of Valiant family of thoracic stent grafts, VenaSeal vein closure system in the US, Evolut PRO, self-expanding CoreValve Evolut transcatheter aortic valve replacement platform, care management services and post-acute care services, Cobalt and Crome portfolio of ICDs and CRT-Ds, TYRX Envelope for implantable devices, CRT-P quadripolar pacing system, Claria MRI CRT-D system with EffectivCRT diagnostic, Micra transcatheter pacing system, and effective CRT during AF algorithm.

Performance

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Overview

-Offers continuous glucose monitoring (CGM) systems, insulin pump consumables, insulin pumps, and therapy management software. Considers continued partnership with UnitedHealthcare as the preferred in-network provider of insulin pumps, and partnership with Aetna as major contributor to growth.

Performance

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Overview

-Offers its products and services to hospitals, ambulatory care centers, physicians' offices, and various alternative site healthcare providers through Surgical Innovations division and Respiratory, Gastrointestinal, & Renal division. -The Surgical Innovations division offers advanced and general surgical products including vessel sealing instruments, wound closure and surgical stapling devices, hernia mechanical devices, electrosurgery products, mesh implants, and gynecology products. -The Respiratory, Gastrointestinal, & Renal division offers products for minimally invasive gastrointestinal diagnostics, airway management and ventilation therapies, respiratory monitoring, and the treatment of renal diseases. The major products include ablation systems, ventilators, endotracheal and tracheostomy tubes and DAR filters, patient monitoring systems, cerebral/somatic oximeters, and dialysis access catheters. Envisages continuous investments for the development of vascular creation and maintenance technologies, and implements strategies to obtain regulatory approval, and commercializes new products, including the surgical robotics platform to achieve substantial growth. It also intends to create markets and introduce products and procedures in emerging markets and to execute strategies in order to tackle the competitive pressure of reprocessing of vessel sealing disposables in the US. It seeks to develop innovative treatments for dialysis.

Performance

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Overview

-Focuses on neurostimulation therapies and drug delivery systems for the treatment of chronic pain, various areas of the spine, brain and pelvic health and ear, nose, and throat (ENT) problems. -The Cranial and Spinal Technologies division develops, manufactures and markets a comprehensive line of devices and implants for the treatment of spine and musculoskeletal deformities such as herniated disc, degenerated disc, spinal deformity, spinal tumors, fracture and stenosis. It also provides biologic solutions for the orthopedic and dental markets. The major products of the Spine division include thoracolumbar, cervical and interbody devices, biologic products, and devices for vertebral compression fractures and spinal stenosis. -The Neuromodulation division carries out the development, manufacture, and marketing of an integrated portfolio of devices and therapies to treat neurological disorders and diseases, spinal cord stimulation systems, and implantable drug infusion systems for chronic pain, movement disorders, and epilepsy. It also offers surgical technologies for improving the precision and workflow of neuro procedures. -The Specialty Therapies division manufactures, and markets products and therapies for the treatment of diseases of the ear, nose and throat (ENT), (non-obstructive) urinary retention, chronic fecal incontinence, and offers systems to help control the overactive bladder. It also offers transformative solutions and surgical incision technology products. Focuses on growth in the sales of Solitare FR revascularization device; pipeline embolization devices, endovascular treatments; Neurosurgery StealthStation and O-Arm Imaging Systems, Midas, and ENT power systems; new integrated solutions through the Surgical Synergy strategy, including spinal implants with enabling technologies such as imaging, navigation, power instruments, nerve monitoring and Mazor robotics; CD Horizon Solera Voyager system, Elevate interbody spacers, Kyphon V vertebroplasty system and the Osteocool RF spinal tumor ablation system; and specialty therapies, including therapy for the treatment of overactive bladder, bowel incontinence, and urinary retention; and Transformative Solutions for breast surgery, orthopedic, spine, and Cardiac Rhythm Disease Management device replacement markets.

Performance

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Geographical Segments

Performance

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Performance

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Performance

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