More bad news for Medtronic

Not like we needed any additional evidence that the Medtronic diabetes franchise is having a very difficult time more came along yesterday when IntriCon, one of their key suppliers reported results. Per the earnings release;

“Revenue in IntriCon’s Medical business in the first quarter of 2020 was $16.4 million, a decrease from $20.8 million in the comparable prior-year period. The year over year decline was driven primarily by the COVID-19 impact on diabetes, one-time revenue recognition adjustment, partially offset by medical coil demand.”

Just as a reminder Medtronic is Intricon’s single largest customer . . .

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