Medtronic leaned into its robotics and navigation strategy during the third quarter of 2024.
Here are four things to know:
1. On the heels of a strong start for Medtronic's fiscal year 2025, CEO Geoff Martha credited one of the company's key product lines for spine growth in an Aug. 20 earnings call.
"Our spine business continues to just really outperform the market with 7% global and 9% U.S. core spine growth," he said, as transcribed by Seeking Alpha. "This sustained share capture is being driven by our AiBLE ecosystem. AiBLE's differentiated features and the sheer scale around the world is — it's a winning formula for our spine business.
2. Medtronic is opening a new hub in Boston, one of the world’s largest hubs for biotechnology. Medtronic is establishing the facility in an effort to tap into the city's large population of physicians, hospitals and universities to help develop new robotic and artificial intelligence technologies.
3. Medtronic appointed James Porter, MD, as chief medical officer of robotic surgical technologies and digital technologies within the company's surgical business.
4. Medtronic is partnering with Siemens Healthineers to co-market the Siemens Healthineers Multitom Rax imaging system. Siemens Healthineers' imaging platform will be integrated with Medtronic's AiBLE ecosystem for spine surgery. The Multitom Rax has standing, weight-bearing imaging, cone-beam CT and supine X-ray capabilities.