Medtronic reported 1.5 percent revenue increase in the first quarter of the 2020 fiscal year, hitting $7.5 billion.
Five things to know:
1. Medtronic's spine line reported a 0.9 percent revenue increase to $658 million for the first quarter. When combined with Medtronic's spine and enabling technologies sales — which includes spinal robotics and navigation — global spine and U.S. core spine revenues grew in the mid-single digits.
2. Cervical spine sales were up in the mid-single digits, largely attributed to the Infinity OCT system launch and growth of Prestige LP cervical disc use.
3. Medtronic reported Infuse sales were up in the low double-digits for the quarter, on a constant currency basis.
4. The brain therapies sales, which include the neurosurgery business, reported 9.8 percent revenue growth to $740 million. Double-digit growth of StealthStation S8 surgical navigation systems, O-arm surgical imaging systems and Mazor X robotic guidance system drove the neurosurgery business.
5. Medtronic also reported a 7 percent decrease in pain therapies revenue for the first quarter, which hit $292 million. The company attributed channel destocking and a slowdown in the spinal cord stimulation market for the segment's poor performance.