Medtronic reports further growth in Q2 2015

Medtronic has expressed satisfaction with its financial performance for the second quarter of its 2015 fiscal year, which ended on October 24th 2014.

During the three months, the company's worldwide second-quarter revenue total came to $4.37 billion (2.78 billion pounds), up by four percent on a reported basis. This strong performance was well-balanced across its various businesses and geographic territories.

Recent product launches and initiatives helped its restorative therapies, cardiac and vascular, and diabetes groups all achieve year-on-year growth. The company now expects revenue growth in the range of four to five percent on a constant currency basis for the full year.

The firm is also on track to complete its takeover of Covidien early during the 2015 calendar year, a move that will significantly expand its capabilities.

Omar Ishrak, Medtronic's chairman and chief executive officer, said: "Revenue growth was at the upper end of our full-year revenue outlook and within our mid-single digit baseline goal, reflecting the strong execution of our global organisation."

The $42.9 billion deal to acquire Covidien was agreed in June 2014 and will create one of the world's biggest medical technology and services businesses.