1. Medtech Insight
  2. >>Business
  3. >>Deals

Medtronic Sales Slump In Q4 2020 But CEO Reveals Appetite For Tuck-In Acquisitions

 
• By Catherine Longworth

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.

Medtronic-HQ_1200x675

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.

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Medtech Insight for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Deals

Roar Of Eargo-hearX Merger Echoes Through US OTC Hearing Aid Market

 
• By Malcolm Spicer

The firms recently announced they will operate as combined company LXE Hearing marketing Eargo’s namesake line and hearX’s Lexie brands. Eargo majority owner Patient Square Capital added $100m to its investment.

Anglonordic 25: Women’s Health Needs Therapeutic Success To Encourage Wider Investment

 
• By Natasha Barrow

Health tech is at the forefront of the women's health sector, securing 38% of venture capital in 2024. However, panelists at the Anglonordic Life Science Conference held 3 April asserted that a successful therapeutic breakthrough is key to gaining investor confidence and accelerating venture capital.

Careology And Entia Partner To ‘Enhance’ Remote Monitoring For Patients With Cancer

 
• By Natasha Barrow

Careology and Entia are partnering to “alleviate the burden of routine patient assessments” on people with cancer. The two early-stage London-based health tech startups already provide services to UK National Health Service (NHS) patients.

Amplitude Acquisition Marks Global Medtech Entry With High Potential In India For Zydus

 
• By Vibha Ravi

Zydus Lifesciences plans to expand global markets for patented products of French orthopedic tech company Amplitude Surgicals which it is acquiring from PE firm PAI Partners and others. Could the European business also serve as a buffer to upheaval in the US amid talks of tariffs?

More from Business

‘Preparing For Regulatory Milestones, Commercial Launch’ Are Priorities, Says New Freenome CEO Aaron Elliott

 
• By Marion Webb

Freenome plans to file for US FDA approval of its blood-based screening test for colorectal cancer mid-year. If cleared, the test would rival Guardant Health’s Shield, the first FDA-cleared blood test for primary screening of colorectal cancer. Exact Sciences is also in the race to bring a blood-based colorectal screening test to market.

Biotech Leader Predicts Delays On Device Approvals As FDA Makes Life-Saving Drugs Sole Priority

 
• By Natasha Barrow

Nawal Ouzren, Sensorion CEO and director, shared the latest industry reaction to US FDA layoffs at the McDermott Will & Emery European Health and Life Sciences Symposium in Paris.

LSI 2025: Egg Medical Builds ‘Nests’ Around Interventional Cardiologists To Protect Against Scatter Radiation

 
• By Marion Webb

Egg Medical is ramping up efforts to expand international sales of its EggNest scatter radiation protection system to shield X-ray procedure room staff without disrupting workflow. Medtech Insight sat down with Bob Wilson, Egg Medical’s CEO, to discuss the various EggNest systems, marketing opportunities and the competitive landscape.