Medtronic CEO: China VBP Impact Is ‘Largely Behind Us’

China’s volume-based procurement (VBP) policy has impacted several medical device companies this year, including Medtronic.

In fact, Medtronic CFO Karen Parkhill mentioned in February, during the company’s fiscal year 2023 third quarter earnings call, that China’s VBP policy had affected Medtronic more than many of its competitors, because of the size and breadth of the company’s business in China.