A computer crash that shut down Medtronic Plc’s systems for global ordering, fulfillment and manufacturing for a week last month will crimp quarterly sales at the world’s largest medical technology company, Chief Financial Officer Karen Parkhill said.
But the CFO said she’s confident that the company will meet its “full fiscal-year guidance of 4 to 5 percent constant-currency revenue growth, and 9 to 10 percent earnings-per-share growth.”
Last month, Medtronic’s diabetes unit launched the first-ever artificial pancreas for type 1 diabetics. The device automatically monitors blood sugar and administers insulin without requiring constant testing and attention from the patient.
Parkhill’s 10-year-old daughter was diagnosed with diabetes four years ago, which helped introduce her to the company’s efforts before she was in talks about the CFO role. Her daughter was one of the earliest and youngest users of the device, which Medtronic sells as the 670G.