St Jude Medical reports strong financial results for Q1 2016

St Jude Medical has announced its financial results for the first quarter of 2016, during which it delivered a net sales total of $1.45 billion (993.68 million pounds).

This represented an eight percent year-on-year increase on a reported basis, or a two percent rise in comparable constant currency terms. The figure was on the high end of the company's internal guidance range, as was its earnings performance.

During the quarter, St Jude Medical was able to complete the integration of Thoratec, with left ventricular assist device sales seeing strong double-digit growth, while neuromodulation sales rose ten percent as the firm expanded its chronic pain offering.

Atrial fibrillation sales were also up, driven by double-digit growth from the TactiCath and FlexAbility ablation catheters.

For the second quarter, St Jude Medical expects its revenues to grow in the range of one to three percent on a comparable constant currency basis, with a two to four percent improvement forecast for the year as a whole.

Michael Rousseau, president and chief executive officer of St Jude Medical, said: "With ten product approvals and associated launches in key regions around the world, we demonstrated our commitment to bringing lifesaving products to patients while driving sales momentum in the areas of atrial fibrillation, heart failure and neuromodulation."