Medtronic Plc logo is seen displayed in this illustration taken, April 10, 2023.
Medtronic, which makes pacemakers, catheters and other tools used in heart and gastrointestinal surgeries, joins rivals, including Abbott Laboratories (ABT.N), Stryker (SYK.N) and Boston Scientific (BSX.N), on benefiting from a rise in non-urgent surgeries.
CEO Geoff Martha said trends pointed to a recovery in surgical volumes as some procedures returned to stronger than pre-pandemic levels.
Whereas, revenue from its medical surgical unit rose 5.5% to $2.04 billion.
Medtronic also said that it was expecting to split its patient monitoring and respiratory interventions businesses in the first half of fiscal 2025.
Persons:
Dado Ruvic, Stryker, Geoff Martha, It's, Martha, Edward Jones, John Boylan, Medtronic, Bhanvi Satija, Christy Santhosh, Shweta Agarwal
Organizations:
REUTERS, Abbott, Abbott Laboratories, Boston, Thomson
Locations:
Dublin, Bengaluru