With $19 billion in sales for 2024, Medical Devices is Abbott’s largest business segment, generating 45% of total company revenue. Helping millions around the world live healthier lives with innovative technologies for diabetes, heart conditions and chronic pain and movement disorders, Abbott’s Medical Devices division is one of the largest medical devices businesses in the world.
From the physicians using Abbott’s medical devices to the patients who are at the center of everything we do, there are many stakeholders in our Medical Devices business. The person at the helm of this globally impactful operation is Lisa Earnhardt, Executive Vice President and Group President, Medical Devices. Earnhardt joined Abbott in 2019 from Intersect ENT, where she served as President and Chief Executive Officer.
On the heels of a strong 2024, Earnhardt shares her insights on what to expect from Medical Devices in 2025.
Abbott’s Medical Devices business reported double-digit organic sales growth for the last eight consecutive quarters1. What is driving that growth?
We have strategically built a diverse portfolio of medical device technologies over the last 20 years, while remaining focused on commercial execution to better serve our customers and patients. We’re driving growth by remaining close to our customers and really listening to what they need for better care. Our insights-driven approach has resulted in treatment options that were never thought possible – smaller, less invasive devices that eliminate the need for major surgery and more personal, portable wearable technologies that people can seamlessly integrate into their lives.
We’ve built a leading cardiovascular business with therapy options to treat heart disease on multiple fronts and deliver better outcomes for patients. For example in Structural Heart, our MitraClip device is the world’s first minimally invasive transcatheter valve repair therapy that helps people avoid open-heart surgery. Last year, we received FDA approval and had an incredibly successful U.S. launch of TriClip, our clip-based device designed to repair the tricuspid valve. Building on our success in Europe, more than 15,000 people with tricuspid regurgitation have had their lives changed by this first-of-its kind technology already.
In Diabetes Care, our FreeStyle Libre continuous glucose monitoring (CGM) systems, which are now used by about 7 million2 people, offer a life-changing alternative to painful finger sticks and access to important information to help users better manage their diabetes. We ended 2024 with $6.8 billion in Diabetes Care revenue, and there are a number of growth-drivers for FreeStyle Libre in front of us.
FreeStyle Libre is already the most successful medical device of all time. How will you reach your goal of $10 billion in annual sales by 2028?
There are more than 500 million people worldwide living with diabetes, and only 10 million of them are currently using CGMs3. So, we see tremendous opportunity for our Libre portfolio. We set a target of a 15% compound annual growth rate3 for FreeStyle Libre sales, and we’re already exceeding that. Abbott’s Diabetes Care revenue, comprised largely of CGM sales, grew almost 20% on an organic basis in 2024.
To meet the growing global demand, last year we opened a new 323,000-square-foot manufacturing site, which will have the highest production of FreeStyle Libre sensors in the world and help Abbott continue supporting people with diabetes to live healthier lives.
We also leveraged our FreeStyle Libre technology to expand into consumer biowearables with the launch of Lingo, an over-the-counter CGM. We see tremendous opportunity for Lingo because it can be used by anyone who is looking to improve their overall health and wellness.
What is in the pipeline for Abbott’s Medical Devices business?
Our medical devices pipeline is one of the most productive in the industry. We’re proud of our history of bringing life-changing innovations to the market, like we did with AVEIR, MitraClip, TriClip and Esprit BTK. Beyond those technologies, we have a robust pipeline and have a number of trials underway to evaluate new products and extend the use of current products to help more people in more places.
In 2024, we significantly advanced clinical studies for two Abbott pulsed field ablation (PFA) catheters, which are being developed to help physicians treat people with abnormal heart rhythms like atrial fibrillation (AFib). We recently announced that we received CE Mark in Europe for the Volt™ PFA System and we have begun commercial PFA cases in the EU. We’re also evaluating the use of our deep brain stimulation system for treatment-resistant depression and working on several new products, including a glucose-ketone sensor for people with diabetes.
Your background is in engineering. How does that inform your leadership style?
As an engineer, I was trained to think methodically about solving problems, and that skill is an excellent foundation for working in MedTech. Our job is to solve some of the most complex healthcare problems with technology, and I believe we must start by understanding the needs of the customer and then listening and observing to see what is working – and what isn’t. To do that, my team continually engages with healthcare providers and patients to gain a deep understanding of the needs of the people we serve and the barriers they might be facing.
That’s what we did when developing our Ultreon imaging software, which physicians use to guide them when placing stents in patients’ arteries. We consulted with several physicians to really understand what they need when performing these procedures. As a result of those discussions, we designed our Ultreon imaging software to use AI and optical coherence tomography (OCT) to help physicians make fast and accurate clinical decisions so they can place stents exactly where needed.
How do you stay inspired?
I’m inspired by the impact and possibility of our work. Here at Abbott, we’re very privileged because our products save and improve people’s lives, which is a great motivation to keep doing this work. I’m reminded of that every time I get to hear the stories of the people we’ve helped. There are thousands of them, but one of my favorites is a volunteer firefighter from Long Island who had struggled with diabetes and peripheral artery disease for years. He had ulcers on his legs and extreme swelling in his feet, so his care team was recommending a double amputation. Thankfully, Abbott was able to offer another option. That firefighter was the first person in the U.S. to receive Esprit BTK following its FDA approval, and as a result he still has both of his legs today. It’s stories like his that keep me – and thousands of my Abbott colleagues – continuing our work to help even more people live fuller lives.
References:
1Double-digit revenue increases reported each quarter from Q1 2023 to Q4 2024.
2Noted in press release about “Above the Bias.”
3Noted in Q3 2024 earnings call transcript.
IMPORTANT SAFETY INFORMATION
MITRACLIP DELIVERY SYSTEMS
TRICLIP™ G4 SYSTEM
AVEIR™ DR
FREESTYLE LIBRE SYSTEMS
Failure to use FreeStyle Libre systems as instructed in labeling may result in missing a severe low or high glucose event and/or making a treatment decision, resulting in injury. If glucose reading and alarms (if enabled) do not match symptoms or expectations, use a fingerstick value from a blood glucose meter for treatment decisions. Seek medical attention when appropriate or contact Abbott at 855-632-8658 or FreeStyleLibre.us for safety info.
About Lingo:
The Lingo Glucose System is intended for users 18 years and older not on insulin. It is NOT intended for diagnosis of diseases, including diabetes.
The Lingo program does not guarantee that everyone will achieve the same results as individual responses may vary. Consult your healthcare professional before making changes to your diet or exercise regimen or if you have an eating disorder or a history of eating disorders.
MITRACLIP DELIVERY SYSTEMS
Rx Only
INDICATION FOR USE
CONTRAINDICATIONS
The MitraClip G4 System is contraindicated in patients with the following conditions: Patients who cannot tolerate, including allergy or hypersensitivity to, procedural anticoagulation or post procedural anti-platelet regime; Patients with known hypersensitivity to clip components (nickel / titanium, cobalt, chromium, polyester), or with contrast sensitivity; Active endocarditis of the mitral valve; Rheumatic mitral valve disease; Evidence of intracardiac, inferior vena cava (IVC) or femoral venous thrombus.
POTENTIAL COMPLICATIONS AND ADVERSE EVENTS
The following ANTICIPATED EVENTS have been identified as possible complications of the MitraClip G4 procedure: Allergic reactions or hypersensitivity to latex, contrast agent, anaesthesia, device materials (nickel / titanium, cobalt, chromium, polyester), and drug reactions to anticoagulation, or antiplatelet drugs, Vascular access complications which may require transfusion or vessel repair including: wound dehiscence, catheter site reactions, Bleeding (including ecchymosis, oozing, hematoma, hemorrhage, retroperitoneal hemorrhage), Arteriovenous fistula, pseudoaneurysm, aneurysm, dissection, perforation / rupture, vascular occlusion, Emboli (air thrombotic material, implant, device component); Peripheral Nerve Injury; Lymphatic complications; Pericardial complications which may require additional intervention, including: Pericardial effuse on, Cardiac tamponade, Pericarditis; Cardiac complications which may require additional interventions or emergency cardiac surgery, including: Cardiac perforation, Atrial septal defect; Mitral valve complications, which may complicate or prevent later surgical repair, including: Chordal entanglement / rupture, Single Leaflet Device Attachment (SLDA), Thrombosis, Dislodgement of previously implanted devices, Tissue damage, Mitral valve stenosis, Persistent or residual mitral regurgitation, Endocarditis; Cardiac arrhythmias (including conduction disorders, atrial arrhythmias, ventricular arrhythmias); Cardiac ischemic conditions (including myocardial infarction, myocardial ischemia, and unstable / stable angina); Venous thromboembolism (including deep vein thrombosis, pulmonary embolism, post procedure pulmonary embolism); Stroke / Cerebrovascular accident (CVA) and Transient Ischemic Attack (TIA); System organ failure: Cardio-respiratory arrest, Worsening heart failure, Pulmonary congestion, Respiratory dysfunction / failure / atelectasis, Renal insufficiency or failure, Shock (including cardiogenic and anaphylactic); Blood cell disorders (including coagulopathy, hemolysis, and Heparin Induced Thrombocytopenia (HIT)); Hypotension / hypertension; Infection including: Urinary Tract Infection (UTI), Pneumonia, Septicemia; Nausea / vomiting; Chest pain; Dyspnea; Edema; Fever or hyperthermia; Pain; Death; Fluoroscopy, Transesophageal echocardiogram (TEE) and Transthoracic echocardiogram (TTE) -related complications: Skin injury or tissue changes due to exposure to ionizing radiation, Esophageal irritation; Esophageal perforation, Gastrointestinal bleeding.
TRICLIP™ G4 SYSTEM
Rx Only
INDICATIONS
The TriClip™ G4 System is indicated for improving quality of life and functional status in patients with symptomatic severe tricuspid regurgitation despite optimal medical therapy, who are at intermediate or greater risk for surgery and in whom transcatheter edge-to-edge valve repair is clinically appropriate and is expected to reduce tricuspid regurgitation severity to moderate or less, as determined by a multidisciplinary heart team.
CONTRAINDICATIONS
The TriClip G4 System is contraindicated in patients with the following conditions: Intolerance, including allergy or untreatable hypersensitivity, to procedural anticoagulation; Untreatable hypersensitivity to implant components (nickel-titanium alloy, cobalt-chromium alloy); Active endocarditis or other active infection of the tricuspid valve. POTENTIAL
ADVERSE EVENTS
The following events have been identified as possible complications of the TriClip™ G4 Procedure. Allergic reactions or hypersensitivity to latex, contrast agent, anaesthesia, device materials and drug reactions to anticoagulation, or antiplatelet drugs; Additional treatment / surgery from device-related complications; Bleeding; Blood disorders (including coagulopathy, hemolysis, and Heparin Induced Thrombocytopenia (HIT)); Cardiac arrhythmias (including conduction disorders, atrial arrhythmias, ventricular arrhythmias); Cardiac ischemic conditions (including myocardial infarction, myocardial ischemia, and unstable / stable angina); Cardiac perforation; Cardiac tamponade; Chest pain; Death; Dyspnea; Edema; Embolization (device or components of the device); Endocarditis; Fever or hyperthermia; Fluoroscopy, Transesophageal echocardiogram (TEE) and Transthoracic echocardiogram (TTE) -related complications: Skin injury or tissue changes due to exposure to ionizing radiation, Esophageal irritation, Esophageal perforation, Gastrointestinal bleeding; Hypotension / hypertension; Infection including: Septicemia; Nausea / vomiting; Pain; Pericardial effusion; Stroke / Cerebrovascular accident (CVA) and Transient Ischemic Attack (TIA); System organ failure: Cardio-respiratory arrest, Worsening heart failure, Pulmonary congestion, Respiratory dysfunction / failure / atelectasis, Renal insufficiency or failure, Shock (including cardiogenic and anaphylactic); Thrombosis; Tricuspid valve complications, which may complicate or prevent later surgical repair, including: Chordal entanglement / rupture, Single Leaflet Device Attachment (SLDA), Dislodgement of previously implanted devices, Tissue damage, Tricuspid valve stenosis, Worsening, Persistent or residual regurgitation; Vascular access complications which may require additional intervention, including: Wound dehiscence, Bleeding of the access site, Arteriovenous fistula, pseudoaneurysm, aneurysm, dissection, perforation / rupture, vascular occlusion, Embolism (air, thrombus), Peripheral nerve injury; Venous thromboembolism (including deep vein thrombosis, pulmonary embolism). CAUTION: Product(s) intended for use by or under the direction of a physician. Prior to use, reference to the Instructions for Use, inside the product carton (when available) or at https://www.eifu.abbott/ for more detailed information on Indications, Contraindications, Warnings, Precautions and Adverse Events.
AVEIR™ DR
Rx Only
Brief Summary: Prior to using these devices, please review the Instructions for Use for a complete listing of indications, contraindications, warnings, precautions, potential adverse events and directions for use.
Indications: The Aveir™ Leadless Pacemaker system is indicated for management of one or more of the following permanent conditions: Syncope, Pre-syncope, Fatigue, Disorientation. Rate-modulated pacing is indicated for patients with chronotropic incompetence, and for those who would benefit from increased stimulation rates concurrent with physical activity. Dual-chamber pacing is indicated for patients exhibiting: Sick sinus syndrome, Chronic, symptomatic second- and third-degree AV block, Recurrent Adams-Stokes syndrome, Symptomatic bilateral bundle-branch block when tachyarrhythmia and other causes have been ruled out. Atrial pacing is indicated for patients with: Sinus node dysfunction and normal AV and intraventricular conduction systems. Ventricular pacing is indicated for patients with: Significant bradycardia and normal sinus rhythm with only rare episodes of AV block or sinus arrest, Chronic atrial fibrillation, Severe physical disability.
Intended Use: The Aveir™ Leadless Pacemaker (LP) is designed to provide bradycardia pacing as a pulse generator with built-in battery and electrodes for implantation in the right ventricle and/or right atrium. The LP is intended to provide sensing of intrinsic cardiac signals and delivery of cardiac pacing therapy within the implanted chamber for the target treatment group. The LP is also intended to operate optionally with another co-implanted LP to provide dual-chamber pacing therapy.
The Aveir™ Delivery Catheter is intended to be used in the peripheral vasculature and the cardiovascular system to deliver and manipulate an LP. Delivery and manipulation includes implanting an LP within the target chamber of the heart.
Contraindications: Use of the Aveir™ Leadless Pacemaker is contraindicated in these cases:
Adverse Events: Potential complications associated with the use of the Aveir™ Leadless Pacemaker system are the same as with the use of single or dual chamber pacemakers with active fixation pacing leads including, but not limited to: Cardiac perforation, Cardiac tamponade, Pericardial effusion, Pericarditis, Valve damage and/or regurgitation, Heart failure, Pneumothorax/hemothorax, Cardiac arrhythmias, Diaphragmatic/phrenic nerve stimulation / extra-cardiac stimulation, Palpitations, Hypotension, Syncope, Cerebrovascular accident, Infection, Hypersensitivity reaction to device materials, contrast media, medications, or direct toxic effect of contrast media on kidney function, Pacemaker syndrome, Inability to interrogate or program the LP due to programmer or LP malfunction, Intermittent or complete loss of pacing and/or sensing due to dislodgement or mechanical malfunction of the LP (non-battery related), Loss of capture or sensing due to embolization or fibrotic tissue response at the electrode, Increased capture threshold, Inappropriate sensor response, Interruption of desired LP function due to electrical interference, either electromyogenic or electromagnetic, Battery malfunction/ premature battery depletion, Device-related complications (Premature deployment, Device dislodgement/embolization of foreign material, Helix distortion), Death. As with any percutaneous catheterization procedure, potential complications include, but are not limited to: Vascular access complications; such as perforation, dissection, puncture, groin pain, Bleeding or hematoma, Thrombus formation, Thromboembolism, Air embolism, Local and systemic infection, Peripheral nerve damage. General surgery risks and complications from comorbidities; such as hypotension, dyspnea, respiratory failure, syncope, pneumonia, hypertension, cardiac failure, reaction to sedation, renal failure, anemia, and death.
MAT-2306873 v1.0 | Item is approved for US Use
Esprit™ BTK Everolimus Eluting Resorbable Scaffold System
INDICATIONS
The Esprit™ BTK Everolimus Eluting
Resorbable Scaffold System is indicated for improving luminal diameter in
infrapopliteal lesions in patients with chronic limb-threatening ischemia
(CLTI) and total scaffolding length up to 170 mm with a reference vessel
diameter of ≥ 2.5 mm and ≤ 4.00 mm.
CONTRAINDICATIONS
The Esprit™ BTK Everolimus Eluting Resorbable Scaffold System is contraindicated for use in:
WARNINGS
PRECAUTIONS
POTENTIAL ADVERSE EVENTS
Potential adverse events include, but are not limited to:
Allergic reaction or hypersensitivity to contrast agent, anesthesia, scaffold materials (poly[L-lactide] [PLLA], poly[D, L-lactide] [PDLLA], platinum, or everolimus), and drug reactions to anticoagulation or antiplatelet drugs
The risks described below include the anticipated adverse events referenced in the contraindications, warnings, and precautions sections of the everolimus labels / SmPCs and / or observed at incidences ≥ 10% in clinical trials with oral everolimus for different indications. Refer to the drug SmPCs and labels for more detailed information and less frequent adverse events.
There may be other potential adverse events that are unforeseen at this time.
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