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Medtronic Spine

Will Controversy Lead Medtronic To Sell Its Spine Business?

Will Controversy Lead Medtronic To Sell Its Spine Business?

Will Controversy Lead Medtronic To Sell Its Spine Business? I cover science and medicine, and believe this is biology's century. Could the controversy over Medtronic 's bone-graft product Infuse, assailed in a major medical journal last week, lead the medical device company to ditch it's entire spine business? Lawrence Biegelsen, a sell-side analyst at Wells Fargo Securities, makes that suggestion in a note downgrading Medtronic to market perform today. He says that last week's report by The Spine Journal, which said that surgeons receiving millions of dollars from Medtronic failed to disclose side effects from clinical trials of Infuse , is "just the tip of the iceberg." We believe the InFuse papers published in The Spine Journal on June 28 will have broader implications for Medtronic (MDT-$39.12; Market Perform) and its spine business than the Street currently expects. We think The Spine Journal papers could lead to the following outcomes: (1) a significant reduction in the sales of MDT's spine biologics franchise; (2) a reduction in the sales of MDT's spinal instrumentation business; (3) a potential FDA review of InFuse, including an Advisory Committee meeting, which could lead to more limited use of InFuse; (4) potentially larger criminal penalties in the Department of Justice (DOJ) investigation of the off-label promotion of InFuse; (5) the potential emergence of class action lawsuits; and (6) the potential sale of the entire spine business. Biegelsen writes that in the short term, competing products like NuVasive and Orthofix could benefit from Infuse's porblems, but that the controversy is likely to result in fewer surgical procedures using any of these products to create bone growth. There has been a wave of consolidation in the spine business, with Johnson & J Continue reading >>

Medtronic Spines Plan

Medtronic Spines Plan

Rob Carson, VP Medtronic Spine / Medtronic plc Since April 2015, he's been in charge of Medtronic plc's spine's marketing and strategy and, along with business president Doug King and other company leaders, has to figure out how to guide the 800 lb. gorilla of spine through a whole new healthcare economic environment and back to taking market share. Medtronic and DePuy Synthes have been losing market share bit by bit to smaller competitors over the past few years. But in the emerging post fee-for-service era of Big Data, health system consolidation and need for scale, Medtronic is playing a whole new game. Over the last couple of months, Carson has been sharing with OTW the companys plan to win in this new era. He has the tools. Armed with the biggest intellectual property toolbox in the industry (including Michelson patents) and a scale of access to customers worldwide, the spine market leader is ready to engage this new environment. The job of the company, says Carson, is to improve spinal carethrough procedure advancements, economic innovations, and global patient accessusing all the expertise and resources available to the company. To do these three things, we have to do the basics very wellbut also try things outside of the traditional. Central to that vision is alignment. Economic alignment with stakeholder interests and technical alignment with a focus on sagittal alignment of the spine for better surgical outcomes. The company calls this effort the Sagittal Alignment Global Initiative (SAGI). Carson outlined four key strategies which build on Medtronic spines strengths: First, invest in core technologies and cadence. The company needs regular cycles of product releases. Since most are 510(k) in nature, speed matters. As an example he cited the launch of the ove Continue reading >>

Medtronic Spine (@medtronic_spine) | Twitter

Medtronic Spine (@medtronic_spine) | Twitter

Pending Pending follow request from @Medtronic_Spine Cancel Cancel your follow request to @Medtronic_Spine We shape spine surgery for the better delivering smart procedures & therapeutic biologics. Our innovations help create better outcomes for more spine patients. Are you sure you want to view these Tweets? Viewing Tweets won't unblock @Medtronic_Spine AANS2018 Less than two weeks away! See you there. Medtronic Spine Thanks. Twitter will use this to make your timeline better. Undo Were committed to recruiting, supporting, and activating a global network of patient, employee, and retiree volunteers. This National Volunteer Week, we celebrate the power of volunteers who lend their time, skills, and voice in their communities. Thanks. Twitter will use this to make your timeline better. Undo At Medtronic, we create technologies to treat patients in new ways, so people can live better. Watch Colonel Humphrey's Thanks. Twitter will use this to make your timeline better. Undo SIR attendees: We look forward to seeing you next year in Austin, Texas! pic.twitter.com/gZOyofRZ8v Thanks. Twitter will use this to make your timeline better. Undo OPuS One will be highlighted at tonight's poster session, 6pm (PST) in the Concourse Foyer. Please join us to hear more about this Thanks. Twitter will use this to make your timeline better. Undo Thanks. Twitter will use this to make your timeline better. Undo SIR attendees, join OPuS One Principal Investigator InterventionalOncology Clinical Research Informal Reception - Tonight, March 19, 6:30PM (PST) Thanks. Twitter will use this to make your timeline better. Undo DougBeall and Kevin Ong 10:00-10:30 AM (PST) TODAY SIR18LA Medtronic booth #315 pic.twitter.com/XAezzfj6nI Thanks. Twitter will use this to make your timeline better. Undo Sacr Continue reading >>

10 Things To Know About Medtronic

10 Things To Know About Medtronic

Written by Shayna Korol| March 09, 2018| Print | Email Medtronic is a global healthcare solutions company and medical device manufacturer. Here are 10 things to know about Medtronic. 1. Earl Bakken and his brother-in-law Palmer Hermundslie founded Medtronic in 1949 as a medical equipment repair shop. 2. Medtronic's first therapeutic offering was a wearable, battery-powered cardiac pacemaker. Today, Medtronic technologies treat nearly 40 medical conditions, including diabetes, back pain and heart issues. 3. Medtronic operates in more than 160 countries with more than 360 locations worldwide. Its principal executive office is in Dublin, Ireland, and its operational headquarters is in Minneapolis. 4. Omar Ishrak has served as chairman and CEO of Medtronic since June 2011. In 2014, he led the acquisition of Covidien, a $10 billion global manufacturer of surgical products and supplies. The Covidien acquisition was the largest medical technology acquisition in the industry's history, and Medtronic moved headquarters to Ireland, where Covidien was located, in a tax inversion strategy. Here is more information on Mr. Ishrak. 5. Medtronic employs more than 84,000 people. The company released a new restructuring plan that is expected to save $3 billion by 2022 and will impact an undisclosed number of employees. The company expects to add $1.6 billion to $1.8 billion in charges over the next five years, with half being employee-related costs; however, the company plans to keep the total employee account steady. Currently there are 9,000 Medtronic employees in Minnesota, the largest concentration of any site worldwide. 6. Medtronic offers posterior occipitocervical upper-thoracic reconstructive systems,radiofrequency ablation system for spinal metastases, spinal cord neurostimulat Continue reading >>

Medtronic (mdt) Q4 Earnings: Can Spine Division Turn Around?

Medtronic (mdt) Q4 Earnings: Can Spine Division Turn Around?

Medtronic (MDT) Q4 Earnings: Can Spine Division Turn Around? Of late, Medtronic plc's ( MDT - Free Report ) spine business has been registering soft performance due to a challenging market scenario. Let us see if there is any possibility of a rebound this time around. The company is scheduled to report fourth-quarter and fiscal 2018 results before the opening bell on May 24. Click here to know how the companys overall Q4 performance is likely to be. In the last reported quarter, Medtronics spine division was flat year over year. Despite a mid-single-digit growth in BMP (Bone Morphogenetic Protein) at CER, a low-single digit decline in Core Spine hampered overall sales. However, the company noted that though growth was sluggish, it was in line with the global spine market. Per management, the combination of advanced technologies in imaging, navigation, powered instruments and nerve monitoring has spurred growth in this division. The company has also started to demonstrate positive outcome related to its distribution relationship with Mazor Robotics. Medtronic PLC Price and EPS Surprise | Medtronic PLC Quote Nevertheless, since the beginning of fiscal 2018, Medtronic is suffering from significant pricing pressure in this business, which offset the strong procedural growth. The company believes that this price reduction basically stems from consolidations within hospitals. The company stated that hospitals are getting more sophisticated with their buying patterns and are consolidating their vendor base resulting in price declines. Medtronic expects this competitive pricing pressure to reduce over the next couple of quarters leading to net procedural growth for the company. However, looking at the companys outlook, we are uncertain of a near-term recovery. The company earl Continue reading >>

5. Medtronic Spinal Biologics

5. Medtronic Spinal Biologics

Robert H. Blankemeyer, Sr. VP and President, Surgical Technologies Jean-Luc Butel, Sr. VP and President, Medtronic International H. James Dallas, Sr. VP, Quality and Operations Kathleen Erickson DiGiorno, VP and Chief Ethics and Compliance Officer Gary L. Ellis, Sr. VP and Chief Financial Officer Stephen R. La Neve, Sr. VP and President, Spinal and Biologics Stephen N. Oesterle, M.D., Sr. VP, Medicine and Technology Catherine M. Szyman, Sr. VP, Strategy and Innovation Not every company can overcome a litany of economic, regulatory and political challenges and still turn a profit. Medtronic Inc. managed such an unlikely feat in fiscal 2009 by striving to deliver better healthcare to both patients and the market. That struggle, along with a tenacious focus on its core mission of alleviating pain, restoring health and extending patients lives, helped the device giant emerge from the most serious economic downfall since the Great Depression with double-digit earnings growth and top market positions in five of its seven business segments. This fiscal year saw an unprecedented convergence of challenges in the economy and our industry, Medtronic Chairman and CEO William A. Hawkins told shareholders in a letter published within the companys 2009 annual report. The global economic crisis, public and government demands for greater financial transparency, challenges to the existing federal regulatory regime, a new administration, and looming healthcare reform have all contributed to an uncertainty that is expected to prevail into 2010. Despite these challengesperhaps because of these challengeswe ended this past fiscal year stronger, more nimble and more resilient than ever before. Medtronic also ended the fiscal year much richer. Net sales rose 8 percent to $14.6 billion and gro Continue reading >>

Medtronic Product Linked To Surgery Problems

Medtronic Product Linked To Surgery Problems

Medtronic Product Linked to Surgery Problems By DAVID ARMSTRONG | The Wall Street Journal A potent substance used in spine-repair surgery to promote bone growth has been linked to life-threatening complications in dozens of patients. Many of the complications involving the product, Medtronic Inc.'s "Infuse Bone Graft," have occurred during "off label" uses, when surgeons use it in ways that haven't been approved by the Food and Drug Administration. The FDA warned surgeons in July that it had received reports of life-threatening complications associated with using the product in surgeries on the cervical spine, around the neck. The agency said it received 38 reports over four years of side effects, mainly swelling of neck and throat tissue, which resulted in compression of the airway and other structures in the neck. Patients reported difficulty swallowing, breathing and speaking. Several required emergency treatment, including tracheotomies and the insertion of feeding tubes, as well as second surgeries, according to reports filed with the agency. Medtronic says it takes the reports of complications seriously and has been active in warning doctors of certain problems related to use of the bone graft. At the same time, the company says the rate of complications is low and that reports to the FDA of problems represent one-tenth of 1 percent of the units sold. Each year, an estimated half-million people undergo spinal-fusion procedures to repair and stabilize damaged discs, and to correct conditions like scoliosis, a curvature of the spine. Infuse Bone Graft, a biologically engineered liquid, has become a best seller for Minneapolis-based Medtronic. One analyst estimates the product notched sales of about $815 million in the fiscal year ended in April. The problems with I Continue reading >>

5. Medtronic Spine - Covering The Specialized Field Of Orthopedic Product Development And Manufacturing

5. Medtronic Spine - Covering The Specialized Field Of Orthopedic Product Development And Manufacturing

Karen L. Parkhill, Exec. VP and Chief Financial Officer Gary L. Ellis, Exec. VP of Global Operations and Information Technology Bradley E. Lerman, Sr. VP, General Counsel and Corporate Secretary Geoffrey S. Martha, Exec. VP and President, Restorative Therapies Group Robert ten Hoedt, Exec. VP and President, EMEA One of the most beloved movie endings ever filmed almost never made it onscreen. The script for the 1971 musical fantasy Willy Wonka and the Chocolate Factory originally ended with Grandpa Joe shouting, Yippie! and then fading to black. But Emmy award-winning director Mel Stuart wanted a better closing line, and reportedly phoned writer David Seltzer from the set to request a more memorable finale. Seltzer could only come up with one idea, though it was a bit clich. In the films final scenecherished by millions of fans worldwidethe eccentric title character announces he is giving his entire factory to Charlie Bucket, a kind-hearted, honest, but poor boy who lives with his widowed mother and four bedridden grandparents in the slums of an unnamed European city. As Charlies disbelief turns to gratitude, Wonka hugs the boy, then tells him, But Charlie, dont forget what happened to the man who suddenly got everything he always wanted. He lived happily ever after, Wonka replies, smiling. Of course he did. It is a movie, after all. Hollywood is notorious for its happy endings, but such closure is not as readily found off-screen. Fairy tales and their all-is-well finales are pure fiction; the real world doesnt work that wayits cold, inconsistent, and oftentimes unfair. It offers no guarantees on contentment. Joy can be particularly elusive in business, even for companies that follow Wonkas guide to eternal euphoria. Apple Inc.s Cinderella-like evolution, for example, s Continue reading >>

Medtronic Receives Fda Approval Of New Spine Surgery Indications For Infuse Bone Graft

Medtronic Receives Fda Approval Of New Spine Surgery Indications For Infuse Bone Graft

Medtronic receives FDA approval of new spine surgery indications for Infuse Bone Graft Please provide your email address to receive an email when new articles are posted on this topic. Receive an email when new articles are posted on this topic. Medtronic plc announced it has received FDA approval of Infuse Bone Graft for new spine surgery indications. According to a company press release, these new indications include use of the Infuse Bone Graft with additional spine implants make of polyetherketone (PEEK) in oblique lateral interbody fusion (OLIF 25 and OLIF 51) and anterior lumbar interbody fusion (ALIF) procedures at a single level. Approved for certain spine, oral-maxillofacial and orthopedic trauma surgeries since 2002, new indications for the graft include: use in OLIF 51 procedures with Divergence-L Interbody Fusion Device at a single level from L5-S1; use in OLIF 25 procedures with Pivox Oblique Lateral Spine System at a single level from L2-L5; and use in ALIF procedures with Divergence-L Interbody Fusion Device at a single level from L2-S1. Infuse Bone Graft remains one of the most-extensively studied products in spine that is commercially available today, Doug King, senior vice president and president of Medtronics spine division, said in the release. The expanded approval with these PEEK devices for OLIF25, OLIF51 and ALIF procedures provide important options for surgeons and their patients. Continue reading >>

Medtronic Spine Division Shows Growth In Fourth Quarter 2017 - Memphis Business Journal

Medtronic Spine Division Shows Growth In Fourth Quarter 2017 - Memphis Business Journal

Digital Producer, Memphis Business Journal After seeing its strongest performance in seven years, the Memphis division of an Ireland-based medical technology company continue to grow. Medtronic announced financial results May 25 for the fourth quarter and the 2017 fiscal year, which ended April 28. The company reported fourth quarter worldwide revenue of $7.9 billion, compared to $7.5 billion in the fourth quarter of fiscal year 2016, an increase of 5 percent. Fourth quarter U.S. revenue was $4.4 billion and represented 56 percent of the company's overall revenue. Net income for the quarter was $1.836 billion, with diluted earnings per share of $1.33. Medtronic's Restorative Therapies Group (RTG), which includes the Brain Therapies, Specialty Therapies and Pain Therapies divisions, as well as the Memphis-based Spine division, grew 5 percent. The Memphis-based Spine division's revenue of $676 million was an increase of 3 percent. Medtronic Spine delivered another strong quarter of growth for the fourth quarter, Doug King , senior vice president and president of Medtronic Spine, said in a statement. Our new product pipeline has had great response from customers. We continue to differentiate by launching complete procedural solutions at a large enough scale to impact the market. In addition, our Surgical Synergy program is gaining traction through bundling, enabling technologies like navigation systems with our implants and instruments to improve outcomes. During the earnings conference call, chairman and CEO of Medtronic Omar Ishrak said the company made progress in each of its growth strategies. "We delivered record revenue of $29.7 billion, growing approximately 5 percent, in the mid-single digits for the fifth consecutive year," Ishrak said. "But most importantly in f Continue reading >>

25 Things To Know About Medtronic

25 Things To Know About Medtronic

Written by Mary Rechtoris| June 25, 2015| Print | Email Medtronic is the world's third largest medical device company specializing in technology, services and solutions. Here are 25 things to know about Medtronic: 1. The company has more than 85,000 employees and 53,000 patents in more than 160 countries. 2. Medtronic has its principal executive offices located in Ireland with its operational headquarters based in Minneapolis. 3. Medtronic is presently the world leader in spinal and musculoskeletal therapies. The company's second largest business is spinal and biologics. 4. Medtronic was ranked 14th among large companies on Computerworld's "Best Places to Work in IT" in 2015. 5. Medtronic had a total revenue of $20.2 billion in the 2015 fiscal year, up 19 percent. 6. GAAP earnings were $1.7 billion, an increase of 16 percent in 2015. 7. In the fiscal year 2015, diluted earnings per share were up 6 percent to $4.28. Net earnings were $2.6 billion, down 13 percent from 2014. 8. In the last quarter, Medtronic had earnings of $2.3 billion in cardiac and vascular products; $1.7 billion in restorative therapy products; $449 million in diabetes products; and $2.4 billion in Covidien products. 9. In the United States, Medtronic had a quarterly revenue total of $3.8 billion in the current 2015 fiscal year. In the 2014 fiscal year, Medtronic reported total revenue of $14.4 billion in the United States. 10. In 2015, Medtronic's market cap was approximately $100 billion after its acquisition of Covidien. Medtronic purchased Covidien for $49.9 billion as one of the largest transactions among device companies last year. 11. The company's quarterly dividend presently is 38 cents per share, totaling to $1.52 per share. Medtronic's dividend yield is 1.98 percent. 12. Medtronic's curren Continue reading >>

Medtronic Spine Jobs, Employment | Indeed.com

Medtronic Spine Jobs, Employment | Indeed.com

Tip: Enter your city or zip code in the "where" box to show results in your area. Laparoscopic surgery, TURP, Cysto, ESWL, Spine surgery, ENT. Type of equipment Stryker, Olympus, Medtronic, ESWL, High power holmium laser, Davinci SI.... Washington, DC 20004 (Downtown area) +9 locations Ortho, Spine or O.R. At Medtronic, the Sales Representative 1, Spine Therapies is responsible for soliciting orders, selling Medtronic Spinal products assigned... Memphis, TN 38118 (Parkway Village-Oakhaven area) As an Upstream Associate Product Specialist with Medtronic Spine, you will work with a team to develop and launch procedural solutions that drive new... Memphis, TN 38118 (Parkway Village-Oakhaven area) Join the Field Training team for Medtronic's Spine business. In this role you will be a critical part of the Training and Education team working on training... Basic Anatomy and Pathology of the spine is preferred. In addition, Medtronic will provide reasonable accommodations for qualified individuals with disabilities... Responsible for selling and integrating Medtronic Complex Spine and Deformity technologies into spine surgery. SPINE shapes spine surgery for the better;... SPINE shapes spine surgery for the better; At Medtronic, we push the limits of what technology, therapies and services can do to help alleviate pain, restore... Driving conversion of surgeons to Medtronic Spine anterior cervical procedures. The Spinal Anterior Cervical Specialist is responsible for the selling and... Ortho or Spine experience preferred. Comply with all Medtronic Spinal policies. Resolve customer complaints in accordance with Medtronic Spinal policies and... Comply with all Medtronic Restorative Therapy Group policies. Responsible for selling and integrating OLIF technologies into spine surge Continue reading >>

Medtronic Launches Revamped Minimally Invasive Spine Fusion Procedures

Medtronic Launches Revamped Minimally Invasive Spine Fusion Procedures

Medtronic Launches Revamped Minimally Invasive Spine Fusion Procedures Innovative Procedural Solutions Offer Efficiencies for Surgeons Using a Lateral Approach Medtronic plc recently announced the continued development of the OLIF Platform with the launch of the Pivox Oblique Lateral Spinal System with Lateral Plate for OLIF25 and Divergence-L Anterior/Oblique Lumbar Fusion System for OLIF51 at the International Meeting on Advanced Spine Techniques (IMAST) in Washington, D.C. Lumbar interbody fusions aim to stabilize the back by fusing two or more vertebrae with bone grafts or devices. Oblique Lateral Interbody Fusion (OLIF) is a surgical technique that minimizes cutting to muscles and addresses unmet needs seen with traditional lateral approaches by utilizing an oblique-lateral trajectory to access multiple levels of the lumbar spine. Compared to traditional approaches, the OLIF25 and OLIF51 Procedures: Use minimally invasive techniques that minimize muscle disruption, Allow for increased access to certain levels of the spine, and Employ direct visualization to ensure an approach to the disc space free from vascular, peritoneal, and nerve obstructions. The OLIF25 Procedure helps surgeons preserve the patient's psoas muscle when treating the L2-L5 levels of the spine and gives surgeons easier access around the patient's iliac crest - enabling placement of an implant into the disc space for anterior column support. It also reduces patient positioning steps and allows for a more upright surgeon posture with direct visualization of the disc space, psoas muscle, and anterior longitudinal ligament. The OLIF51 Procedure provides lateral access to the L5-S1 disc space and doesn't require surgeons to reposition the patient if multiple levels of surgery are conducted. The incis Continue reading >>

Medtronic Spine Fusion Device Subject Of Senate Investigation - Abc News

Medtronic Spine Fusion Device Subject Of Senate Investigation - Abc News

A U.S. Senate committee has launched an investigation into reports that doctors with financial ties to the medical device company Medtronic were aware of potentially serious complications with a spine surgery product made by the company yet failed to reveal those problems in published journal articles. Citing news articles based on a Journal Sentinel/MedPage Today investigation, two powerful members of the Senate Finance Committee contacted Medtronic Tuesday demanding an extensive list of documents, including financial records and communications between the company and doctors who have received millions in royalties and other payments from Medtronic over the last decade. Medtronic was warned not to destroy or make inaccessible any of the documents, data or other related information in the letter signed by committee chairman Max Baucus (D-Mont.) and senior member Chuck Grassley (R-Iowa). The growing controversy involves Medtronic's spine surgery product Infuse, which was approved by the Food and Drug Administration in 2002. Over the last year, an ongoing series of Journal Sentinel/MedPage Today investigations has raised questions about annual payments made to a core of prominent surgeons around the country who were involved either in the clinical testing of Infuse or co-authoring positive medical journal articles that failed to link the product to serious complications. "We are extremely troubled by press reports suggesting that doctors conducting clinical trials examining the safety and effectiveness of Infuse on behalf of Medtronic were aware that Infuse, a treatment commonly used in spinal surgery, may cause medical complications, but failed to report this in the medical literature," Baucus and Grassley wrote. "This issue is compounded by the fact that some clinical Continue reading >>

What New Fda Implant Approval Means For Spine Labelling

What New Fda Implant Approval Means For Spine Labelling

What new FDA implant approval means for spine labelling The FDA has approved Medtronics Infuse(TM) Bone Graft in new spine surgery indications. InfuseBone Graft is now approved for use with additional spine implants made of polyetheretherketone (PEEK) in oblique lateral interbody fusion (OLIF 25(TM) and OLIF 51(TM)) and anterior lumbar interbody fusion (ALIF) procedures at a single level. This is the second expanded indication in just over two years. The new approved indications for InfuseBone Graft are: Use in OLIF 51 procedures with Divergence-LInterbody Fusion Device at a single level from L5-S1. Use in OLIF 25 procedures with Pivox(TM) Oblique Lateral Spine System at a single level from L2-L5. Use in ALIF procedures with Divergence-LInterbody Fusion Device at a single level from L2-S1. "Different spine patients can have very different surgical needs, so the more options surgeons have to combine a clinically-proven bone grafting technology like Infuse with different procedures and implants, the greater the likelihood of successful outcomes," said Dr. Richard Hynes, president and spine surgeon at the B.A.C.K. Center in Melbourne, Florida. "This latest approval addresses some fairly common degenerative spine surgical correction needs." InfuseBone Graft is used with certain Medtronic interbody fusion devices to treat lumbar degenerative disc disease. This condition can cause back and/or leg pain, as well as functional problems, such as tingling or numbness in the legs or buttocks or difficulty walking. "Infuse Bone Graft remains one of the most-extensively studied products in spine that is commercially available today," said Doug King, senior vice president and president of Medtronic's Spine division, which is part of the Restorative Therapies Group at Medtronic. "The Continue reading >>

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