Brace Yourself for a More Competitive Medtronic
ment and clinician decision support solutions beyond robotics.”
Martha said Medtronic is targeting a limited launch this fall for the Touch Surgery Enterprise, which he described as “an extremely easy-to-use, surgical video capture solution, paired with a computer and connected to the cloud.”
Medicrea has differentiated technology that incorporates artificial intelligence into surgical planning for spine cases, and then uses the plan to create personalized spinal implants.
“With Medicrea, Medtronic will be the first company to offer an integrated spine surgery solution that includes AI-driven surgical planning, personalized implants, and robotic-assisted surgical delivery,” Martha said. “This further extends our competitive advantage in spine.”
The CEO also noted during the call that the company will continue to use the strength of its balance sheet to supplement organic growth and to help drive increased and sustained revenue growth into the future.
Analysts seemed impressed
The message from Martha and other Medtronic executives during the earnings call seemed to resonate with industry analysts.
“We expect [Medtronic] and investors to reap the benefits of a steady cadence of product introductions in the back half of FY21, and longer-term we believe these products could materially shift [Medtronic’s] growth profile on a sustainable basis,” Ryan Zimmerman, a medtech analyst at BTIG, noted in his report.
Needham & Co.’s Matson said in his report that he believes the fourth quarter of Medtronic’s fiscal year 2020 marked the bottom for the company’s growth and that its new products and balance sheet are allowing Medtronic to emerge from the pandemic stronger than its competitors.