Medtronic 2015 Annual Report Download - page 57

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•Acceptance of the Resolute Onyx drug-eluting coronary stent which received CE Mark approval in November
2014. Resolute Onyx builds on the Resolute Integrity drug-eluting coronary stent with thinner struts to
improve deliverability and is the first stent to feature our CoreWire technology, allowing greater visibility
during the procedure.
•Continued acceptance of the Resolute Integrity drug-eluting coronary stent and the Integrity bare metal stent.
The global stent market continues to experience pricing pressure resulting from government austerity
programs and reimbursement cuts in Western Europe, Japan, and India.
•Continued worldwide growth of the Valiant Captivia Thoracic Stent Graft System.
•Continued and future acceptance of the Endurant family of AAA stent graft products. We received CE Mark
and U.S. FDA approval of the Endurant 2S stent graft late in the second quarter of fiscal year 2015.
•Acceptance of the IN.PACT Admiral drug-coated balloon for the treatment of peripheral artery disease in the
upper leg. The IN.PACT Admiral drug-coated balloon was launched in the U.S. early in the fourth quarter of
fiscal year 2015. We broadened this launch by utilizing our Covidien peripheral sales force in April 2015.
•Future growth in the U.S. from the integration of the legacy Covidien U.S. sales force to maximize cross-
selling opportunities with complementary products.
Minimally Invasive Therapies Group The Minimally Invasive Therapies Group is composed of the Surgical Solutions and
Patient Monitoring & Recovery divisions. With a focus on diseases of the gastrointestinal tract, lungs, pelvic region, kidneys,
obesity, and preventable complications, the group looks to enhance patient outcomes through minimally invasive solutions. The
Minimally Invasive Therapies Group’s products include those for advanced and general surgical care, such as stapling, vessel
sealing, and other surgical instruments; sutures; electrosurgery products; hernia mechanical devices; mesh implants;
gastrointestinal (GI), interventional lung, and advanced ablation solutions; products for patient monitoring and recovery, such as
ventilators, capnography, and other airway products; sensors; monitors; compression and dialysis products; enteral feeding;
wound care; and medical surgical products, including operating room supply products, electrodes, needles, syringes, and sharps
disposals. Minimally Invasive Therapies Group’s net sales from January 26, 2015, the date of the Covidien acquisition, through
April 24, 2015 were $2.387 billion. Revenue growth rates versus the prior year are not meaningful, as the Minimally Invasive
Therapies Group is a new group that contains the majority of Covidien’s former operations.
Net sales contributions in Surgical Solutions included strong performance in both stapling and energy. Stapling results
benefitted from the rollout of new products, including the Endo GIA Reinforced Reload, while energy results included strong
procedural volumes in vessel sealing. GI solutions, advanced ablation, and interventional lung solutions results in Early
Technologies also contributed to net sales.
Net sales contributions in Patient Monitoring & Recovery were led by solid performance in patient monitoring as a result of the
U.S. flu season, which drove pulse oximetry sales.
Looking ahead, we expect Minimally Invasive Therapies Group could be impacted by the following:
•Changes in procedural volumes, competitive pressure, reimbursement challenges, impacts from changes in the
mix of our product offerings, fluctuations in foreign currency and pricing pressure, particularly in developed
markets.
•Integration of Minimally Invasive Therapies Group into Medtronic. We believe the combined company will
allow us to treat more patients, in more ways, and in more places around the world.
•Minimally Invasive Therapies Group’s goals, across a patient’s continuum of care, are to diagnose and
intervene earlier, improve treatments, and help patients recover faster. Our technologies and products span the
entire continuum. We expect a significant amount of our sales growth from the following key growth drivers:
•Accelerating access to and adoption of less invasive surgical techniques to help patients recover
faster and at less overall cost to the healthcare system. Opportunities exist to provide advanced
solutions that minimize complications and increase efficiency. Our goal is to create localized
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