Josh Jennings

Ford gave a specific timeline, owned the US mitral execution shortfall, cited personnel changes made, and contrasted with international TAVR up 30% in the first half.

Ford did not quantify specific share recapture but provided qualitative detail on Volt conscious sedation advantage and early data suggesting more durable lesions. Expects EP growth to exceed mid-to-high-teens market growth by year-end.

Ford confirmed M&A focus remains med tech and diagnostics. Nutrition does not need inorganic investment to recover; has right products, brands, and teams in place. Price point adjustments and at least eight new product launches over next twelve months sufficient to reignite volume growth. Near-term focus on integrating Exact Sciences post-close.

Ford said ablation double-digit growth significantly driven by international Volt rollout. Maintains mapping leadership in US despite competitor launches. New 13 French digital sheaths and ICE also contributing. Revenue per case increasing with new product introductions. PFA penetration estimates of ~80% US and slightly lower OUS by 2026 considered reasonable. Expects EP to do much better in 2026.

Ford said Navitor sales doubled in 2 years, currently in 20% of US centers. Doubling US commercial team by year-end. International competitor exit plus upcoming low/intermediate risk CE Mark label expansion create tailwinds.

Ford emphasized Abbott actively engaged with AdvaMed sharing data, but not relying on exemptions. On portfolio, maintained diversified model provides strategic advantage and no current plans for divestitures.

Ford outlined Nutrition gross margin recovery opportunity, EPD maintaining margins under FX pressure, and med tech mix accretion as drivers. Confirmed 50-100bp annual improvement target.

Mahoney reaffirmed the 7% to 8% WAMGR call and PFA leadership while conceding U.S. share loss, expecting the business to strengthen in second half 2027 with Ultra and ICE.

Mike acknowledged lower gross margin mix benefit from EP/WATCHMAN deceleration. Offsetting through restrictive OpEx spend controls, shared services scaling, AI automation, and R&D portfolio prioritization to maintain 50-75bp margin expansion.

CEO reaffirmed LRP unchanged: 10%+ organic growth, 150bps margin improvement, leveraged double-digit EPS growth through 2028. WAMGR approaching 9% with Penumbra slightly improving it further.

Management sees no current capacity constraints given strong economics and CMS proposal to increase ablation and LAA reimbursement by roughly 10%. FARAPULSE safety and efficiency supports potential ASC expansion.

CEO viewed tariff impact as manageable, expressed hope for favorable FTC environment for M&A. Noted med-tech historically not targeted by major policy changes. Tax reform outcome uncertain.

Roque projected sequential Q4 margin enhancement despite the Alaris revenue step-down, citing productivity gains landing in Q4; FY27 flow-through offset by pricing, mix and BD Excellence.

Tom reiterated confidence in durable mid-single-digit growth driven by both higher WAMGR market exposure and share gains. Highlighted $35M incremental selling investment behind key platforms. Innovation pipeline has higher gross margin profile than current portfolio.

Tom reported pricing flat to slightly positive overall, up 50bps ex-China. As China VBP abates post-FY26, pricing dynamic becomes more positive. New product categories (Avatene Flowable, SurgiFore, HemoSphere Stream) entering new markets at premium pricing reflecting value delivered.

Jake confirmed field sensor survival consistent with clinical studies across patient spectrum. New patch technology drives meaningful improvement in sensor survival and will extend across entire portfolio including DexCom ONE+ and Stelo. Jereme confirmed 15-day pricing identical to 10-day with 100% rebate inclusion.

Jake confirmed G8 as multi-analyte platform important to future innovation. No timeline disclosed. Planning investor event at Mesa manufacturing facility in H1 2026 to discuss long-range plan and product portfolio. Currently focused on meeting broad user needs including Smart Basal for basal population.

Kevin confirmed DME relationships much stronger than before. Working to get partners enough inventory for 3-month supply cadence. New commercial team spending significant time on relationships. DME partners will be important through competitive bidding process.

Martha still views China as a growth end-market with minimal manufacturing-for-export exposure. The team navigated VBP well, increasing procedures and lowering costs on large tenders; China is growing at the corporate average and remains accretive to profitability despite VBP. He did not give a specific percent-of-revenue figure.

Dallara confirmed U.S. slowdown is timing, not disruption. Simplera production doubling Q1-to-Q2, then doubling again in H2. Instinct (Abbott-based) expected to launch in coming months after ACE approval in July. Separation on track at 15 months.

Salmon detailed country-by-country reimbursement progress: France established, China approved pending hospital listing, Japan pursuing regulatory approval. U.S. remains dominant growth driver.

Kevin described early innings for ASCs. 17% of knees and 14% of hips now in ASCs. Six+ business units per deal. Steady linear trajectory limited by construction pace.

Kevin focused on peripheral vascular build-out first, not broader cardiovascular. Many other M&A priorities across existing businesses.