Recently, Physio-Control, which is a subsidiary of Medtronic, launched ReadyLink 12-Lead ECG device, which is capable of providing improved care for patients who had heart attack or are at the risk of an attack. It also helps in expanding STEMI systems regionally. Medtronics claims that the device is the first of its kind to have a wide access to chest pain management networks.
Physio-Control recorded revenue of $103 million in the first quarter of fiscal 2012. This is an increase of about 17% at a constant exchange rate. This increase is due to the high pre-hospital market sales. Medtronic is planning to separate from Physio-Control business.
The growth in Physio-Control is really heartening. However, Medtronic has ample problems in its CRDM and Spinal sectors. CRDM has not shown any progress during the last few months. ICD sales dropped by 3% to $ 697 million, though pacing system rose by 7% to $ 508 million.
Lower procedure volume in the ICD market had its effect on the CRDM sales. Apart from that, the growth of 4% in Biologics, amounting to $ 215 million was nullified by almost 2% drop or $ 610 million in Core Spinal.
The take over of Osteotech was fruitful for the Biologics, but the gain was neutralized by the lower sales in Infuse. In an effort to compensate for the sale lost in the core sectors, Medtronic has decided to deal in alternate business, including CardioVascular and Diabetes, which had tremendous growth during the quarter.
Just as in the case of most of the companies, fiscal 2011 have been crucial for Medtronic due to the prevailing macroeconomic condition, lower utilization etc. Apart from that there is competition from reputed establishments like St. Jude Medical, Boston Scientific etc. The company is doing its best to swim against the tide in the present conditions.