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Table of Contents
50
America countries, and the MiniMed 620G, the first integrated system customized for the Japanese market.
The Company continues to make progress in bringing the MiniMed 640G to the U.S., and plans to submit the
premarket approval to the U.S. FDA in the third quarter of fiscal year 2017. In addition, the Company is on
track to file its premarket approval to the U.S. FDA for the first hybrid closed loop system by the end of June
2016.
• Acceptance of MiniMed Connect, which allows users to view their insulin pump and CGM data on a smartphone
and provides remote monitoring and text message notifications. The Company received U.S. FDA approval
during the first quarter of fiscal 2016.
• Selection by UnitedHealthcare as the preferred in-network provider of insulin pumps, giving their members
access to our advanced diabetes technology and comprehensive support services.
Operations by Market Geography
The graph below illustrates net sales by market geography for fiscal years 2016, 2015, and 2014:
The table below illustrates net sales by market geography for each of our operating segments for fiscal years 2016 and 2015:
Fiscal Year 2016 Fiscal Year 2015
(in millions) U.S.
Non-U.S.
Developed
Markets Emerging
Markets U.S.
Non-U.S.
Developed
Markets Emerging
Markets
Cardiac and Vascular Group $ 5,347 $ 3,283 $ 1,566 $ 4,435 $ 3,412 $ 1,514
Minimally Invasive Therapies Group 5,014 3,299 1,250 1,230 856 301
Restorative Therapies Group 4,921 1,542 747 4,569 1,556 626
Diabetes Group 1,140 584 140 1,071 548 143
Total $ 16,422 $ 8,708 $ 3,703 $ 11,305 $ 6,372 $ 2,584
For fiscal year 2016, net sales for the U.S. increased 45 percent, developed markets outside the U.S. increased 37 percent, and
emerging markets increased 43 percent compared to the prior fiscal year. Currency translation had an unfavorable impact of $1.4
billion on net sales for fiscal year 2016. Net sales growth in the U.S. was led by strong growth in the Cardiac and Vascular Group
and solid growth in the Restorative Therapies Group and Diabetes. The growth in all markets was primarily driven by the addition
of Minimally Invasive Therapies Group net sales totaling $9.6 billion for fiscal year 2016 and was also favorably impacted by an
additional selling week during the first quarter of fiscal year 2016.
For fiscal year 2015, net sales for the U.S increased 22 percent, non-U.S. developed markets increased 13 percent, and emerging
markets increased 23 percent over the prior fiscal year. Currency translation had an unfavorable impact of $666 million on net
sales for fiscal year 2015. Net sales growth in non-U.S. developed markets was driven by the addition of the Minimally Invasive
Therapies Group in the fourth quarter, as a result of the Covidien acquisition, offset by unfavorable currency translation. Emerging
markets growth was led by strong growth in the Restorative Therapies Group and Diabetes, solid growth in the Cardiac and
Vascular Group, and the addition of the Minimally Invasive Therapies Group in the fourth quarter as a result of the Covidien
acquisition, partially offset by unfavorable currency translation.