5. Medtronic – Spine Division
2018 revenue: $2.7 billion
Medtronic (NYSE:MDT) in December 2018 closed on its $1.7 billion purchase of Mazor Robotics and its robot-assisted surgery platform for the spine. A month later, it launched its Mazor X Stealth robotic-assisted spinal surgical platform in the U.S.
Medtronic officials expect Mazor X Stealth to help grow the company’s neurosurgery business and create demand for spine implants, CEO Omar Ishrak said during a February earnings call transcribed by Seeking Alpha. “We’ve received early enthusiastic feedback for this combination of best-in-class robotics and navigation capability.”
Ishrak mentioned strong capital equipment sales supporting Medtronic brain therapies growth. “As we execute more of these contracts, we would expect our core spine implant sales to grow over the coming quarters,” he said.
Fridley, Minn.–based Medtronic runs its spine division out of Memphis, Tenn.
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