Minneapolis, MN-based Medtronic announced higher sales for the third quarter in its spine, vascular and neurology products while weaker revenues came in for its implantable devices.
    
Third-quarter sales jumped 10% to $3.05 billion for the period ending January 26. Spinal revenue rose 12%, and sales from vascular products including stents to treat clogged arteries increased 29%. Neurological revenue rose 17% and diabetes revenue increased 24%.

The positives outweighed the major minus, in ICD sales that decreased 2% to $711 million. Medtronic also admitted losing market share to rival ICD manufacturers in the quarter.

CEO Art Collins predicted growth in the U.S. ICD market would rebound to the high-single-digit rate in the company’s next fiscal year and could return to double digits going forward.

In addition the medical device manufacturer posted a net profit of $710 million compared with a profit of $670 million, a year ago.