Medtronic profit tops estimates on strength in heart devices business

FILE PHOTO – An empty bed is pictured at the Children’s Hospital of Georgia in Augusta, Georgia, U.S., January 14, 2022. REUTERS/Hannah Beier

Feb 22 (Reuters) – Medtronic Plc (MDT.N) edged past quarterly profit estimates on Tuesday, as strength in its critical heart implants business cushioned weakness in segments such as pelvic health during the Omicron-led surge in COVID-19 infections.

Demand for Medtronic’s pacemakers and other devices for heart failure has not been significantly impacted by the pandemic as procedures that involve these devices cannot be postponed in most cases.

However, overwhelmed by soaring infections and a shortage of healthcare workers, hospitals across the United States had to put off non-critical surgical procedures to free up staff and beds, denting demand for devices used in non-urgent procedures.