• Login
    • Join
  • Subscribe Free
    • Magazine
    • eNewsletter
    Checkout
    • Magazine
    • News
    • Exclusives
    • Manufacturing
    • Markets
    • Top 10
    • Buyers' Guide
    • Events
    • Microsites
    • More
  • Magazine
  • News
  • Exclusives
  • Manufacturing
  • Markets
  • Top 10
  • Buyers' Guide
  • Events
  • Microsites
  • Current & Past Issues
    Features
    Departments
    Columns
    Editorial
    Digital Edition
    Subscribe Now
    Advertise Now
    Editorial Guidelines
    eNewsletter Archive
    eBook
    Top Features
    Checking Up on the Hip Replacement Market

    Evaluating Material Options for Orthopedics

    ODT's 2022 Orthopedic Device Industry Year in Review

    Initiating Implant Infection Innovation

    Achieving Machining Mastery for Ortho Devices
    Breaking News
    Certifications
    Clinical Trials
    Device Approvals & Patents
    Financial & Deals
    International
    Market Data & Trends
    OEM News
    Orthopedic Innovators
    People
    Product & Service Releases
    Products
    Quality, Recalls & Risk
    Regulatory & Legal
    Supplier & Contract Mfg.
    Live From Shows
    Top News & Features
    ODT's Most-Read Stories This Week—Feb. 4

    Toetal Solutions Secures $1.8 Million in New Financing

    Adrian Tyndall Joins Axogen's Board of Directors

    ADSM-Synchro Medical Acquired by Tyber Medical

    Solid Growth Ahead for Orthopedic Power Tools Market
    3-D Printing/Additive Mfg.
    Assembly & Automation
    Biocompatibility & Testing
    Clean Room
    Coatings/Surface Modification
    Contract Manufacturing
    Design
    Extrusion
    Finishing
    Forging & Casting
    Instruments, Cases & Trays
    International/Offshoring
    Laser Processing
    Materials
    Machining & Tooling
    Molding
    Packaging & Sterilization
    Prototyping
    Research & Developement
    Software & Quality
    Staffing, Training & Prof. Dev.
    Supply Chain

    ODT's Most-Read Stories This Week—Feb. 4

    Toetal Solutions Secures $1.8 Million in New Financing

    Adrian Tyndall Joins Axogen's Board of Directors

    ADSM-Synchro Medical Acquired by Tyber Medical

    Solid Growth Ahead for Orthopedic Power Tools Market
    Biologics
    Bracing/Prosthetics
    Extremities
    Imaging
    Instruments
    Large Joint
    MIS/Robotics
    Spine/Neurology
    Trauma/Sports
    Top Markets
    X-Ray Sterilization Considered a 'Game-Changer' for Orthopedic Industry

    Medtech Firms Turning to Rigid Containers Amid Sterilization Wrap Shortage

    7 Ways Design Can Impact Orthopedic Manufacturing Costs

    EtO Alternatives Dependent Upon Product and Packaging Material

    Sterilization Method Impacts Packaging Material Choice
    Companies
    Categories
    Company Capabilities
    White Papers
    Add New Company
    International Buyers Guide Companies
    AV&R

    Modern Plastics

    Braxton Manufacturing

    Tiodize

    Life Science Outsourcing Inc.
    Industry Events
    Webinars
    • Magazine
      • Current & Past Issues
      • Features
      • Editorial
      • Departments
      • Columns
      • Digital Edition
      • eNewsletter Archive
      • Editorial Guidelines
      • Subscribe Now
      • Advertise Now
      • eBook
    • Breaking News
    • Buyers' Guide
      • Companies
      • Categories
      • Company Capabilities
      • White Papers
      • Add Your Company
    • Manufacturing
      • 3-D Printing/Additive Mfg.
      • Assembly & Automation
      • Biocompatibility & Testing
      • Clean Room
      • Coatings/Surface Modification
      • Contract Manufacturing
      • Design
      • Extrusion
      • Finishing
      • Forging & Casting
      • Instruments, Cases & Trays
      • International/Offshoring
      • Laser Processing
      • Materials
      • Machining & Tooling
      • Molding
      • Packaging & Sterilization
      • Prototyping
      • Research & Developement
      • Software & Quality
      • Staffing, Training & Prof. Dev.
      • Supply Chain
    • Markets
      • Biologics
      • Bracing/Prosthetics
      • Extremities
      • Imaging
      • Instruments
      • Large Joint
      • MIS/Robotics
      • Spine/Neurology
      • Trauma/Sports
    • Top 10
    • Online Exclusives
    • Slideshows
    • Videos
    • Webinars
    • Events
      • Industry Events
    • Live from Show Event
    • About Us
      • About Us
      • Contact Us
      • Privacy Policy
      • Terms of Use
      • Advertise With Us
    Top 10 Orthopedic Device Firms

    5. Medtronic Spine

    ...

    5. Medtronic Spine
    Related Content
    • Bone Cancer: The Global Burden and Medtech Opportunity
    • Corin Group Appoints Former Medtronic Executive as CEO
    • Southern Spine Names John Hart President and CEO
    • Todd Potokar Joins DiFusion Technologies Board
    • FDA Approval of Medtronic’s Recharge-Free Spinal Cord Stimulation Platform
    08.14.19
    AT A GLANCE
    Rank: #5 (Last year: #5)
    $2.65 Billion
    Prior Fiscal: $2.67 Billion
    Percentage Change: -0.7%
    No. of Employees: 90,017
    Global Headquarters: Dublin, Ireland

    KEY EXECUTIVES:
    Omar Ishrak, Chairman and CEO
    Karen L. Parkhill, Exec. VP and CFO
    Richard E. Kuntz, M.D., M.Sc., Sr. VP, Chief Medical and Scientific Officer
    Geoffrey S. Martha, Exec. VP and President, Restorative Therapies Group
    Jacob Paul, Sr. VP and President, Spine

    Medtronic’s Spine division has been out of alignment for some time. It all began with the maligned Kyphon acquisition—in 2007, Medtronic bought the company for about $4.1 billion, a month before CEO Art Collins retired to be replaced by Bill Hawkins. Industry insiders believed at the time the price Medtronic paid was far too high, and Kyphon’s financial performance didn’t quite pan out as hoped.

    Just after current CEO Omar Ishrak took the reins in 2011, the firm’s blockbuster InFuse bone growth biologic came under fire. InFuse was approved in 2002 to treat lumbar degenerative disc disease, but had made millions over the year in off-label procedures—which, in some cases, had deadly results. Several lawsuits ensued charging Medtronic with promoting off-label use, and the company settled many with as much as $300 million. Although Medtronic wasn’t convicted of any wrongdoing, sales suffered. Many experts speculated whether it was time for the company to sell its Spine unit. However, Geoff Martha, president of Medtronic’s Restorative Therapies Group, who followed Ishrak from GE Healthcare in 2011, set out on a journey to stabilize the business when he took over as head of the group in 2015.

    His next move: Medtronic began the deal to acquire Israel’s Mazor Robotics for $1.7 billion last September, building on a prior arrangement between the two that had included Medtronic taking a stake in Mazor and serving as the sole distributor of the robotics company’s Mazor X system. By combining its spine implants, navigation, and intraoperative imaging technology with Mazor’s robotic-assisted systems, Medtronic intends to offer a fully-integrated procedural solution for surgical planning, execution, and confirmation.


    ANALYST INSIGHTS: Medtronic continues to expand its business through M&A across multiple market segments. While it has placed many bets for future growth, none of its investments are greater than its commitment to robotics. CEO Omar Ishrak has made it clear 2020 will be ‘the year of the robot’ for Medtronic. It will be interesting to observe whether they can create adoption for its Mazor, SuperD, and other robotic platform investments.

    —Dave Sheppard, Co-Founder and Managing Director, MedWorld Advisors



    “Over the past two years it’s become clear to us that enabling technology like this is the future,” Martha told Bloomberg. “It improves outcomes in spinal surgery and reduces the variability. Once we realized this is clearly the future, we knew we had to integrate all this technology.”

    The deal was an effort to hasten the move toward guided, robotic procedures. Medtronic and Mazor unveiled their new Mazor X system at last year’s North American Spine Society conference. Mazor X identifies spine abnormalities and creates a patient-specific surgical implant, potentially positioning Medtronic to better compete with rival Globus Medical. The deal for Mazor was completed last December, valued at about $1.7 billion.

    But a robotic system, advanced as it may be, raised questions about whether it would fit into the cost-conscious era of value-based care. In response to these concerns, Martha told MedCity News that certain surgical steps could be automated and if all the technology’s innovations occur as planned, 40 percent of operating room time could be removed from a basic degenerative procedure. Saving time in the OR is invaluable to health systems.

    “You can automate some of the bone cutting, some of the tissue resection using all this technology together,” Martha told MedCity News.

    Though certainly a boost for Medtronic’s spine procedure capabilities, Mazor is technically not a part of the company’s Spine franchise. Mazor is housed in the company’s Brain Therapies division, which includes neurovascular, brain modulation, and neurosurgery offerings. Medtronic’s Spine division encompasses interbody spacers, fixation systems, cervical plates, artificial discs, orthobiologics, bone grafts, and demineralized bone matrix products. Spinal products are often used in concert with the firm’s Neurosurgery solutions, meaning larger sales of Mazor products will likely correlate with rising Spine product revenue as more healthcare organizations adopt the robotic technology.

    The Spine franchise accrued $2.66 billion in revenue, dropping 1 percent. Despite the slip, the segment saw incremental growth due to increased spinal impact attachment rates in conjunction with the company’s Surgical Synergy strategy, which integrates spinal implants with robotics, imaging, navigation, power instruments, and nerve monitoring. The firm’s “Speed to Scale” initiative, which relies on quicker innovation cycles and launching a steady cadence of new products at scale with sets immediately available for the market, also contributed to growth.


    ANALYST INSIGHTS: Medtronic continues to be a juggernaut with strong fundamentals. However, the company had a bit of a wobble recently with their false start in orthopedics, flagging spine revenue, and slow move into robotics.

    —Patrick West, Partner, Mirus Capital Advisors



    Infuse Bone Graft was FDA approved for two new spine surgery indications last April. The second expanded indication for Infuse in just over two years, it can now be used with polyetheretherketone (PEEK) implants in oblique lateral interbody fusion (OLIF) 25 and 51 and anterior lumbar interbody fusion (ALIF) procedures at a single level.

    A day later at the American Association of Neurological Surgeons (AANS) annual meeting, Medtronic launched TiONIC technology—a titanium 3D printed platform for spine surgery implants. TiONIC technology’s enhanced surface textures are created with a differentiated laser method, increasing osteoconductivity and promoting bone response. ARTiC-L, for use in transforaminal lumbar interbody fusion (TLIF) spine surgery, was the first implant to feature TiONIC technology. The implant’s 3D printed honeycomb design provides an osteoconductive scaffold for bony ingrowth and improved mechanical load distribution.

    The Synergy TLIF workflow was also unveiled at last year’s AANS meeting. The spine surgery procedural workflow combines Medtronic’s O-arm System imaging and SteathStation imaging guidance technologies to create a completely navigated, minimally invasive procedure allowing for fewer intraoperative surgical steps. The new CD Horizon Solera Voyager 5.5 System has percutaneous and mini-open rod insertion options for treating both degenerative and adult deformity conditions. The system’s non-cannulated ATS screw reduces the number of screw placement steps from nine to three (vs. traditional pedicle screw placement).

    Last September saw the Infinity OCT (occipitocervical-upper thoracic) Spinal System’s launch. Infinity OCT immobilizes and stabilizes the spine while it fuses. It includes a multi-axial screw with 60 degrees of angulation in any direction, a locking cap with a quick-start thread, and 3.0 and 5.5 mm screws. When paired with the company’s O-arm imaging and StealthStation navigation system, Infinity OCT can simplify complex posterior cervical procedures. It can be used in cases of degenerative disc disease, instability or deformity, tumors, and traumatic spinal fractures or traumatic dislocations.
    Related Searches
    • 3d printed
    • spinal
    • scaffold
    • north american spine society
    Suggested For You
    Bone Cancer: The Global Burden and Medtech Opportunity Bone Cancer: The Global Burden and Medtech Opportunity
    Corin Group Appoints Former Medtronic Executive as CEO Corin Group Appoints Former Medtronic Executive as CEO
    Southern Spine Names John Hart President and CEO Southern Spine Names John Hart President and CEO
    Todd Potokar Joins DiFusion Technologies Board Todd Potokar Joins DiFusion Technologies Board
    FDA Approval of Medtronic’s Recharge-Free Spinal Cord Stimulation Platform FDA Approval of Medtronic’s Recharge-Free Spinal Cord Stimulation Platform
    Zimmer Biomet Appoints New Execs Zimmer Biomet Appoints New Execs
    First Clinical Use Reported for Viseon First Clinical Use Reported for Viseon's Next-Generation MaxView System
    FDA Clears Medtronic’s Patient-Specific UNiD Rods FDA Clears Medtronic’s Patient-Specific UNiD Rods
    Is Orthopedics on the Road to Pandemic Recovery? Is Orthopedics on the Road to Pandemic Recovery?
    Medtronic Unveils Mobile App for Spinal Cord Stimulation Therapy Progress Medtronic Unveils Mobile App for Spinal Cord Stimulation Therapy Progress
    Neurosurgeon to Pay $4.4M to Settle Federal Kickback Allegations Neurosurgeon to Pay $4.4M to Settle Federal Kickback Allegations
    Sustainable Packaging Likely in Medtech Sustainable Packaging Likely in Medtech's Future
    Global Bone Tumor Ablation Devices Market to Top $111 Million by 2027 Global Bone Tumor Ablation Devices Market to Top $111 Million by 2027
    Medtronic Intellis Platform Approved for U.S. Labeling by FDA Medtronic Intellis Platform Approved for U.S. Labeling by FDA
    Medtronic’s Midas Drills, Mazor System Used Together in First Surgeries Medtronic’s Midas Drills, Mazor System Used Together in First Surgeries

    Related Columns

    • Bone Cancer: The Global Burden and Medtech Opportunity

      Bone Cancer: The Global Burden and Medtech Opportunity

      There are so many medical devices critical to the treatment of cancer.
      Maria Shepherd, President and Founder, Medi-Vantage 09.14.21

    • Corin Group Appoints Former Medtronic Executive as CEO

      Corin Group Appoints Former Medtronic Executive as CEO

      Jacob Paul will lead Corin through the next phase of their mission to enhance patient activity and wellbeing.
      Corin Group 09.13.21

    • Spine/Neurology
      Southern Spine Names John Hart President and CEO

      Southern Spine Names John Hart President and CEO

      New leader has more than 35 years of executive leadership experience in the medical device, life science and biologics fields.
      Business Wire 08.13.21


    • Todd Potokar Joins DiFusion Technologies Board

      Todd Potokar Joins DiFusion Technologies Board

      New member has more than 30 years experience in the medical device space serving as CEO and in other executive leadership roles.
      Business Wire 06.16.21

    • Spine/Neurology
      FDA Approval of Medtronic’s Recharge-Free Spinal Cord Stimulation Platform

      FDA Approval of Medtronic’s Recharge-Free Spinal Cord Stimulation Platform

      Vanta implantable neurostimulator offers up to 11 year battery life and personalized pain relief.
      PR Newswire 06.10.21

    Loading, Please Wait..

    Trending
    • Toetal Solutions Secures $1.8 Million In New Financing
    • Mainstay Medical Launches ReActiv8 In Australia
    • Study: Cannabis Use Complicates Total Knee, Hip Procedures
    • The FDA’s Flip-Flop On Hyaluronic Acid
    • DePuy Synthes’ INHANCE Shoulder System Cleared By FDA For Reverse Total Shoulder Arthroplasty
    Breaking News
    • ODT's Most-Read Stories This Week—Feb. 4
    • Toetal Solutions Secures $1.8 Million in New Financing
    • Adrian Tyndall Joins Axogen's Board of Directors
    • ADSM-Synchro Medical Acquired by Tyber Medical
    • Solid Growth Ahead for Orthopedic Power Tools Market
    View Breaking News >
    CURRENT ISSUE

    November/December 2022

    • Checking Up on the Hip Replacement Market
    • Evaluating Material Options for Orthopedics
    • ODT's 2022 Orthopedic Device Industry Year in Review
    • View More >

    Cookies help us to provide you with an excellent service. By using our website, you declare yourself in agreement with our use of cookies.
    You can obtain detailed information about the use of cookies on our website by clicking on "More information”.

    • About Us
    • Privacy Policy
    • Terms And Conditions
    • Contact Us

    follow us

    Subscribe
    Nutraceuticals World

    Latest Breaking News From Nutraceuticals World

    GOED Elects New Board Officers for 2023
    Aspire Hires Darrec Jones as VP of Business Development
    Pycnogenol Supplementation Linked to Better Hair Density in Menopausal Women
    Coatings World

    Latest Breaking News From Coatings World

    PPG Completes COLORFUL COMMUNITIES Project in Denmark
    10 Partners of the Automotive Industry Form JV, Cofinity-X
    BASF Recognized as Top Company for Supplier Diversity
    Medical Product Outsourcing

    Latest Breaking News From Medical Product Outsourcing

    MPO's Most-Read Stories This Week—Feb. 4
    MO SCI Acquires Assets of 3M’s Advanced Materials Business
    Neurent Medical’s NEUROMARK System Becomes Commercially Available in U.S. Markets
    Contract Pharma

    Latest Breaking News From Contract Pharma

    Lilly 4Q Revenues Down 9% to $7.3B
    Bionova Expansion Project to Quadruple GMP Biologics Manufacturing Capacity
    Steriline Provides Fill-Finish Solution for Berkshire Sterile Manufacturing
    Beauty Packaging

    Latest Breaking News From Beauty Packaging

    Pacifica Introduces Glow Baby Skincare Line
    Kohl’s Names Tom Kingsbury as Chief Executive Officer
    Mielle Unveils Haircare Bundles Inspired by Amazon Original Series Harlem
    Happi

    Latest Breaking News From Happi

    Glow Balms and Slugging are Top Skincare Trends: Spate
    Curl Care Sales Jump as Consumers Transition to Natural Hairstyles
    Amyris & Tia Mowry’s Haircare Launch, New Product Awards in Beauty and Home Care
    Ink World

    Latest Breaking News From Ink World

    Weekly Recap: Pigments, Inkjet Ink Market Reports Top This Week’s Stories
    Roland DGA Announces Key Changes to Leadership Team
    Ball Reports 2022 Results
    Label & Narrow Web

    Latest Breaking News From Label & Narrow Web

    Brandywine names new president, Brook + Whittle grows and more
    MM Packaging adds first Nilpeter press for Dublin site
    Polytag develops new UV tag reading technology
    Nonwovens Industry

    Latest Breaking News From Nonwovens Industry

    Weekly Recap: K-C Requests Huggies-Related Lawsuit to be Thrown Out, WPT Makes Investment & More
    What You’re Reading on Nonwovens-Industry.com
    Kimberly-Clark Supports Period Poverty Initiative in Australia
    Orthopedic Design & Technology

    Latest Breaking News From Orthopedic Design & Technology

    ODT's Most-Read Stories This Week—Feb. 4
    Toetal Solutions Secures $1.8 Million in New Financing
    Adrian Tyndall Joins Axogen's Board of Directors
    Printed Electronics Now

    Latest Breaking News From Printed Electronics Now

    Weekly Recap: CES 2023, ams OSRAM and Celanese Top This Week’s Stories
    Zebra Provides East West Shrine Bowl with RFID Tracking Technology
    AAAS Elects Three ORNL Scientists as Fellows

    Copyright © 2023 Rodman Media. All rights reserved. Use of this constitutes acceptance of our privacy policy The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Rodman Media.

    AD BLOCKER DETECTED

    Our website is made possible by displaying online advertisements to our visitors.
    Please consider supporting us by disabling your ad blocker.


    FREE SUBSCRIPTION Already a subscriber? Login