The medical community has just exploded with a重磅消息——global device giant Medtronic delivers the strongest earnings report in nearly a decade!

On November 21, Medtronic released its fiscal year 2026 second-quarter financial report, with global revenue reaching $8.96 billion and earnings per share (EPS) at $1.36. Both core figures exceeded the company’s expectations. More notably, this represents Medtronic's strongest growth performance in over a decade, excluding the special comparison effects post-pandemic.

Behind the financial reports, a "disruptive black technology" in the cardiac field has become the absolute protagonist. Today, let's break down: what cardiac technologies hold the key to Medtronic's growth?

1. Eye-popping Performance: Cardiovascular Business Becomes the Absolute Pillar

Breaking down Medtronic's revenue landscape,Cardiovascular BusinessKnown as the "stabilizing force." This sector in the quarterGlobal revenue of $3.44 billion, a year-on-year increase of 9.3%, directly leading all business lines。

"This is our strongest growth in more than a decade. Excluding the special comparison period post-pandemic, such performance is particularly remarkable," emphasized Thierry Piéton, Medtronic's Chief Financial Officer, during the earnings call.

To understand, in the context of increasingly fierce global competition in the medical device market, it is not easy for established giants to achieve such high growth. And at the core of all this isA Technological Breakthrough in Cardiac Ablation —— Pulse Field Ablation (PFA)。

2. Core Engine PFA: A "Cardiac Treatment Revolution" with 71% Growth

If the cardiovascular business is the pillar, then the PFA technology is the core fulcrum of the pillar.This quarter, Medtronic's global revenue from cardiac ablation solutions surged 71%, with a staggering 128% growth rate in the U.S. market, marking a "rocket-like rise."

Some friends may not know what PFA is? Simply put, it's a new type of ablation technology for treating atrial fibrillation, known in the industry as a "disruptive innovation." Unlike traditional radiofrequency and cryoablation, PFA uses high-voltage electrical pulses to precisely destroy diseased myocardial cells without damaging surrounding tissues such as blood vessels and nerves, offering higher safety and significantly reducing operation time.

Currently, Medtronic has two PFA products approved by the FDA:PulseSelect PFA System and Affera Mapping & Ablation System (with Sphere-9 Catheter)Among them, the Affera system has seen a surge in sales since its approval, becoming a "hot commodity" among doctors.

"Doctors not only recognize Affera's shortened procedure time but are increasingly praising its excellent durability." Medtronic CEO Geoff Martha revealed that customer demand is exceptionally strong, continuously requesting the purchase of more Affera systems to be utilized in additional labs. More crucially, Medtronic's PFA promotion is still in its early stages, with future growth potential clearly visible.

III. Multiple Blooming: Not Only PFA, These Technologies Are Also Making Efforts

In addition to the outbreak of PFA, Medtronic's cardiovascular sector has multiple growth points working simultaneously, forming a "multi-point blossoming" pattern:

1. Cardiac Rhythm Management Business: Global revenue increased by 5% year-over-year, driven primarily by the Aurora EV-ICD (Implantable Cardioverter Defibrillator), which saw growth of nearly 80%. This device effectively monitors heart rhythms and provides life-saving protection for high-risk patients, with market demand continuing to rise.

2. Structural Heart Business: Global revenue increased by 7%, driven by the continued success of the Evolut Transcatheter Aortic Valve Replacement (TAVR) platform. TAVR technology, which does not require open-heart surgery, provides a minimally invasive treatment option for patients with aortic valve disease and has become one of the mainstream solutions in the industry.

3. Renal Denervation TechnologyMedtronic's Symplicity Spyral Renal Denervation System Receives Policy Boost: U.S. CMS (Centers for Medicare & Medicaid Services) Releases Final Nationwide Coverage Decision, Expanding Eligible Population, Removing Kidney Function Restrictions, and Reducing Medication Adherence Time Requirements, Significantly Lowering Patient Access Barriers.

4. Industry Insight: Technological Innovation is the Real Driving Force

The impressive performance has greatly boosted Medtronic's confidence, leading to an upward revision of its revenue growth and EPS expectations for the fiscal year 2026. This report card essentially serves as the best testament to "growth driven by technological innovation."

In the Chinese market, the PFA sector is also gaining significant attention. Currently, PFA products from domestic companies such as Jinjiang Electronics and Denovo Electrophysiology have been approved. The pattern where foreign brands once occupied over 85% of the domestic electrophysiology market is gradually being broken. For Chinese manufacturers, PFA may be an important opportunity to "overtake on a curve."

For doctors and patients, technological innovation brings safer and more efficient treatment options. Like PFA technology, it not only makes atrial fibrillation treatment more precise but also reduces the risk of complications, truly improving patients' quality of life.

In the future, with the implementation of more medical high-tech innovations and the improvement of policies, what changes will the cardiovascular treatment field undergo? We will wait and see.

What are your thoughts on new medical technologies like PFA? Feel free to leave a comment and join the discussion!