Medtronic plc (MDT) CEO Geoffrey Martha Presents at Morgan Stanley 20th Annual Global Healthcare Conference (Transcript)

Medtronic plc (NYSE:MDT) Morgan Stanley 20th Annual Global Healthcare Conference September 12, 2022 12:30 PM ET

Company Participants

Cecilia Furlong - VP, Medical Technology Equity Research

Conference Call Participants

Geoffrey Martha - Chairman and CEO

Cecilia Furlong

Good afternoon. Welcome to the first day of the Morgan Stanley Healthcare Conference. I'm Cecilia Furlong. I'm med device analyst here at Morgan Stanley. It is my pleasure to have Medtronic CEO, Geoff Martha, with us here today. Really quickly disclosures, please see morganstanley.com/disclosures.

With that Geoff, thank you for being here today.

Geoffrey Martha

Yes, it's great to be here. Thanks for the great walk-upm, I'm ready to go now.

Cecilia Furlong

So back, but I'd love to just start…

Geoffrey Martha

So back, still on my plate here every day, that's on my every day. That's not to a throwback to me.

Question-and-Answer Session

Q - Cecilia Furlong

But I'd love to start just kind of high level what you're seeing today in the market? Any updates? I know it hasn't been that long since your call, but kind of how you're viewing a lot of the macro dynamics?

Geoffrey Martha

I was actually in Europe last week, so I didn't -- wasn't at the Wells conference, but there was a lot of positive, I think, I guess, more upbeat news I think that's consistent with what we're seeing is that the -- one, the staffing issue is -- continues to improve.

It's not 100% back, but it's a lot better than it was. And for the most part, I'd say we're back to prepandemic levels in terms of procedures, a couple of pockets where we're not, but for the most part, we are. And then the supply chain issues are -- there's a lot of plastics, resins, packaging, things like that in semiconductors.