Medtronic cardiovascular unit shows Q1 growth

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Medical device manufacturer Medtronic’s cardiovascular business unit reported a positive uptick in revenues for its fiscal 2008 first quarter (end-July 27, 2007) compared with the same quarter last year.

The business segment stated revenues of $486 million for the period, an 8 percent increase compared with the same period the prior fiscal year. The Minneapolis-based firm said that the unit’s sales growth was driven by coronary stents and endovascular products.

Medtronic said that its coronary stent revenue of $152 million for the quarter grew 27 percent and its endovascular revenue grew 13 percent.