ICD explants, spine settlement hit Medtronic in Q4
This article was originally published in Clinica
Medtronic saw its net income drop by 66% to $194m in its fiscal fourth quarter ended April 29. One-offs, like the cost of replacing potentially faulty implantable cardioverter defibrillators and a legal settlement over spinal intellectual property, bit a sizeable chunk out of earnings, which would have totalled $645m (+10%) excluding special and purchased in-process R&D charges.
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