SEC Filings

10-Q
MEDTRONIC PLC filed this Form 10-Q on 12/04/2017
Entire Document
 


Continued acceptance and future growth of the MiniMed 670G system, the first hybrid closed loop system in the world. The system features our most advanced SmartGuard algorithm, which enables improved glucose control with reduced user input. The MiniMed 670G system received U.S. FDA approval during the second quarter of fiscal year 2017 and launched in the U.S. in June 2017.
Changes in medical reimbursement policies and programs, along with payor coverage of the MiniMed 670G system.
Continued acceptance and future growth of the MiniMed 640G system with SmartGuard Suspend before Low technology, which has launched in Europe, Australia, and select countries in Latin America and Asia, and the MiniMed 620G system, the first integrated system customized for the Japanese market.
Continued acceptance and future growth of Guardian Connect CGM system which displays information directly to a smartphone. This system received CE mark in 2016 and has launched internationally, with an expected U.S. launch in the second half of fiscal year 2018.
Continued partnership with UnitedHealthcare as the preferred in-network provider of insulin pumps, giving their members access to our advanced diabetes technology and comprehensive support services.
Continued partnership and future growth of our outcomes-based agreement with Aetna, where a component of our pump reimbursement is based on successfully meeting clinical improvement thresholds as part of our value-based healthcare solutions.
OPERATIONS BY MARKET GEOGRAPHY
The tables below include net sales by market geography for each of our operating segments for the three and six months ended October 27, 2017 and October 28, 2016:
 
U.S.(1) 
 
Non-U.S. Developed Markets(2)
 
Emerging Markets(3)
 
Three months ended
 
Three months ended
 
Three months ended
(in millions)
October 27, 2017
 
October 28, 2016
 
% Change
 
October 27, 2017
 
October 28, 2016
 
% Change
 
October 27, 2017
 
October 28, 2016
 
% Change
Cardiac and Vascular Group
$
1,423

 
$
1,353

 
5
 %
 
$
895

 
$
823

 
9
 %
 
$
455

 
$
408

 
12
 %
Minimally Invasive Therapies Group
795

 
1,266

 
(37
)
 
783

 
853

 
(8
)
 
374

 
354

 
6

Restorative Therapies Group
1,258

 
1,261

 

 
394

 
383

 
3

 
211

 
182

 
16

Diabetes Group
258

 
272

 
(5
)
 
169

 
150

 
13

 
35

 
40

 
(13
)
Total
$
3,734

 
$
4,152

 
(10
)%
 
$
2,241

 
$
2,209

 
1
 %
 
$
1,075

 
$
984

 
9
 %
 
U.S.(1) 
 
Non-U.S. Developed Markets(2)
 
Emerging Markets(3)
 
Six months ended
 
Six months ended
 
Six months ended
(in millions)
October 27, 2017
 
October 28, 2016
 
% Change
 
October 27, 2017
 
October 28, 2016
 
% Change
 
October 27, 2017
 
October 28, 2016
 
% Change
Cardiac and Vascular Group
$
2,756

 
$
2,650

 
4
 %
 
$
1,782

 
$
1,652

 
8
 %
 
$
881

 
$
800

 
10
%
Minimally Invasive Therapies Group
2,040

 
2,501

 
(18
)
 
1,648

 
1,716

 
(4
)
 
750

 
680

 
10

Restorative Therapies Group
2,479

 
2,468

 

 
788

 
767

 
3

 
405

 
363

 
12

Diabetes Group
501

 
535

 
(6
)
 
336

 
305

 
10

 
74

 
74

 

Total
$
7,776

 
$
8,154

 
(5
)%
 
$
4,554

 
$
4,440

 
3
 %
 
$
2,110

 
$
1,917

 
10
%
(1)
U.S. includes the United States and U.S. territories
(2)
Non-U.S. developed markets include Japan, Australia, New Zealand, Korea, Canada, and the countries of Western Europe
(3)
Emerging markets include the countries of the Middle East, Africa, Latin America, Eastern Europe, and the countries of Asia that are not included in the non-U.S. developed markets, as defined above

64

X