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    Medtronic revenue up as sales of heart-rhythm devices slip

    By Dan Haugen | Published Tue, Feb 17 2009 9:41 am

    Medtronic is selling fewer pacemakers and defibrillators but more drug-coated stents and neuromodulation products.

    The Fridley-based medical device company reported today that revenue for the three months ending Jan. 23 rose 3 percent from a year ago to $3.5 billion.

    “Despite global macroeconomic uncertainties and an unfavorable impact from foreign currency on our business units this quarter, Medtronic continues to deliver growth in a challenging environment,” CEO Bill Hawkins said in the company's statement.

    Sales revenue from the company's cardiac rhythm disease management unit, which includes pacemakers and defibrillators, decreased 4 percent from last year.

    CardioVascular, which includes the company's coronary stent products, increased 10 percent. Neuromodulation, a unit that uses pacemaker-like devices to treat pain and other conditions, saw revenue grow 11 percent, the company reported.

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