Fridley, Minn. – Medtronic said Tuesday it is pulling out all the stops to boost its slumping implantable-defibrillator market.
The medical-device company said in Tuesday’s first-quarter earnings conference it plans to spend up to $100 million this fiscal year on efforts to win back doctors and patients, including a TV campaign aimed at consumers.
“We want to increase awareness of the dangers of sudden cardiac death as well as the efficacy and safety of ICDs (implantable cardiac defibrillators),” said Medtronic chief executive Art Collins.
The implantable-defibrillator market is expected to grow 8 percent to 12 percent over the next five years – half the growth rate of the past few years.
The slowdown results from a reduction in heart-failure patients because of improved drug therapies and the spate of defibrillator recalls in the last year.
