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22 DEVICES & IMPLANTS Medtronic raises quarterly dividend despite Q4 spine revenue drop: 6 details By Laura Dyrda M edtronic reported its fourth quar- ter revenue dropped 26 percent during the pandemic, hitting $6 billion. Full-year earnings were in line with guidance the company provided April 21 to account for losses due to the postponement or cancellation of elective procedures around the world. Six things to know: 1. Medtronic's restorative therapy group, which includes spine, pain and brain di- visions, reported a 5.6 percent drop in fis- cal year 2020 revenue to $7.725 billion. Fourth-quarter revenue was down 33 percent to nearly $1.5 billion. e fourth-quarter de- cline reflects the impact of COVID-19. 2. Titan Spine contributed $15 million to the company's fourth-quarter revenue as part of Medtronic's Restorative erapies Group. 3. e overall spine revenue was down 31 percent in the fourth quarter to $480 million. Core spine revenue dropped by a percentage in the high 20s in the U.S. and internationally. 4. Bone morphogenetic protein sales were down by a percentage in the high 30s. Pain therapies fourth-quarter revenue was down $198 million, a 42 percent drop. 5. Neurosurgery revenue dropped by a per- centage in the high 20s. 6. Medtronic did not provide guidance for future financial results due to the pandemic. e company did report a cash dividend for the first quarter of the 2021 fiscal year on May 20, raising the quarterly amount to 58 cents per share. Annually, this dividend would jump from $2.16 per share to $2.32 per share. e company returned $3.6 billion to share- holders in the 2020 fiscal year. n Former Stryker, NuVasive executive appointed COO of Nexxt Spine By Alan Condon Nexxt Spine onboarded James Abraham as chief operating officer May 12. Mr. Abraham has more than 30 years of experience in the medical device industry, including executive leadership roles at Stryker, Amedica and Isotis Orthobiologics. Most recently, he served as managing director of NuVasive's Australia and New Zealand subsidiary, where he was responsible for the sales, marketing, operations and finance departments. Prior to joining NuVasive, Mr. Abraham was senior vice president of global sales at Amedica and senior director of orthopedic trauma sales at Stryker. n Camber Spine launches 2 anterior cervical devices By Alan Condon Camber Spine on May 7 launched the Spira-C integrated interbody system and the Fortico anterior cervical plating system. Three things to know: 1. Spira-C is a cervical fixation device and Fortico is a two-screw plating system. 2. Spira-C features Camber Spine's "Surface by Design" technology — an osteopromotive surface intended for load redistribution to optimize end plate contact and promote arthrodesis. 3. Fortico was designed to match the anterior face of the Spira-C system and can be used with the company's Coveris cervical implants. n Implanet to sell total knee implant, focus 100% on spine business By Alan Condon Orthopedic device manufacturer Implanet entered into exclusive negotia- tions May 18 to sell its Madison total knee implant. "Implanet will be 100 percent devoted to the treatment of spinal disorders," CEO Ludovic Lastennet said. The company aims to use the funds to accelerate the growth of its spine business, which includes its Jazz portfolio for the treatment of degenerative spine disorders requiring fusion. Selling the knee system will also provide Implanet with funding for initia- tives including potential acquisitions in the spine field. The company did not reveal who the potential buyers were. n