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.