As medtech companies across the world grapple with the impact of the coronavirus pandemic, Medtronic PLC is no exception. On 21 May, the medtech giant reported revenues of $6bn for the fourth quarter, down 26% on a reported basis.
Medtronic Sales Slump In Q4 2020 But CEO Reveals Appetite For Tuck-In Acquisitions
Medtronic's revenue for the fourth quarter of fiscal 2020 was down 25% year-year-over due to the COVID-19 pandemic. The hardest-hit segment was restorative therapies, which reported a 33% year-over-year decline in the quarter due to the drop off in deferrable procedures and capital purchases. For the full fiscal year, Medtronic's revenue was down 4.2% to $28.9bn.
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