This past week at the Congress of Neurological Surgeons annual meeting, Medtronic has launched several new products that could set the foundation for a new growth in the company's spine business.
The products include:
• Capstone PTC Spinal System
• Clydesdale PTC Spinal System
• Anatomic Peek PTC Cervical Fusion System
• CornerstoneSR Ti-Coated AnatomicalCervical Cage
• DIVERGENCE Anterior Cervical Fusion System
The new device designs aim to shake-up traditional design and make surgery more efficient for the surgeon and patient. When surgery is streamlined, there is less time in the operating room per case. This also means patients spend less time under anesthesia and could potentially increase recovery time. The quicker timeline can create significant savings for healthcare providers, as OR time is extremely costly per minute.
"The introduction of the DIVERGENCE Anterior Cervical Fusion System demonstrates Medtronic's commitment to improving how spinal fusions are performed around the world," said President of the spine business and Senior Vice President at Medtronic Doug King.
While the company has been weathering a multiple controversies over the past few years — from the scandal surrounding Infuse clinical study data and related lawsuits to its Covidien acquisition and plans to move headquarters to Ireland — Medtronic continues to grow. Seeking Alpha named Medtronic a "healthy" stock yesterday with revenues up 5 percent for last quarter. The company's stock also has a dividend increase track record.
The company's total revenue was $17 billion as of April 25, 2014, and gross profit was at $12.6 billion. Recent market reports have also named the company as a serious contender to take over the top position among orthopedic device companies in the next five to 10 years.