por Lynn Shapiro
, Writer | August 26, 2009
Neuromodulation revenue rose 7 percent to $373 million, or 11 percent, after adjusting for an unfavorable $13 million currency translation impact.
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Diabetes revenue of $295 million grew 10 percent, or 15 percent, after adjusting for an unfavorable $14 million currency translation impact, on strong U.S. insulin pump and continuous glucose monitoring (CGM) product sales, as well as sales of consumables in Europe. International sales climbed 14 percent. During the quarter, the business unit launched the Paradigm Veo pump in the UK and Ireland, the first semi-closed loop product, extending its lead as the only company with a proprietary CGM sensor augmented pump.
Revenue from surgical technologies grew to $227 million, up 12 percent, or 16 percent, after adjusting for an unfavorable $7 million currency translation impact. Revenue in the business unit grew on sales of the monitoring product line, the launch of NIM 3.0, a new nerve integrity monitor and strong ear, nose and throat and neurological power disposable sales.
In Europe, sales of navigation equipment used in both brain and spinal surgery procedures were also strong during the quarter.
Physio-Control reported $97 million in revenue, up 3 percent, or 7 percent after adjusting for an unfavorable $4 million currency translation impact. The launch of the LIFEPAK 15 monitor/defibrillator contributed to revenue growth in the quarter, the company said.
"Our solid performance across all businesses demonstrates the strength of our product portfolio and geographic diversity," said Bill Hawkins, Medtronic chairman and chief executive officer. "Our focused efforts to provide innovative solutions to the growing and global challenge of chronic disease are enabling us to bring our therapies to more people than ever before."
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