Rick Wise: Hi. Good morning. Thanks Ryan. Maybe, I will just €“ interest of time here, just focus on €“ back on one topic, Hugo. Geoff, it seems like you are seeing a good ramp in Europe. But maybe you could quickly update us on supply chain? Is that resolved, resolving, almost resolved? What’s your thought about that process and your ability to meet the demand? Last quarter, you talked about backlog. Maybe you could give us some more color there. And specifically, just a little more detailed color about once Hugo is in place, the kind of adoption and maybe pull-through of instrumentation you are seeing just to €“ so we have a real €“ a better sense of exactly where you are with Hugo. Thank you so much.
Geoff Martha: Yes. Great to hear from you, Rick. Thanks for the question. I will turn it over to Bob for some of the details there. But I would say just on Hugo, what €“ the evolution of the €“ is the feedback that we are getting, right. I mean we felt confident in the design. And as we get closer to launch, I was spending more time with physicians that were involved with the design that they don’t work for Medtronic, but they were involved, and they were very bullish on it and happy with the way the product turned out. But now we are getting feedback from physicians that are converting from the competition or have both and they are high-volume users and they have a high bar for robotic surgery and that feedback has been really, really strong.
And that is, I think is very encouraging. And that word is spreading, as I talk to U.S. physicians that don’t have access to it yet because they are not part of the trial and they have a pretty detailed understanding of the robot and its features and its capabilities. And so, we are getting €“ and so that’s just driving really strong adoption. Yes. I will let Bob talk about any kind of constraints or supply chain and any other details on adoption now.
Bob White: Yes. Thanks Geoff and Rick, thanks for the question. A couple of other points I think Rick, that would be helpful for you is we are now starting to fulfill repeat orders by customers, which is nice. So, customers have not just bought one, they are coming back to buy additional ones. And the other thing is we are seeing a mix really of both early robotic adapters and experienced accounts, which is nice because we built Hugo with the differentiator that what physicians’ needs in mind. So, we are excited what we see there. And with respect to the supply chain, as it relates to Hugo, a good €“ that is behind us. So, we had €“ I talked in previous quarters about hardening our supply chain and working through those manufacturing processes.
That’s all in the rearview mirror for us. And then as Geoff and Karen mentioned more broadly, for our surgical business, we have seen our supply chains improve dramatically through the year, and you see that in the sequential quarter-on-quarter growth in that business. So hopefully, that’s helpful. Thanks.
Rick Wise: Thank you.
Geoff Martha: And I think the €“ Rick, I think on the pull-through €“ for that pull-through to have an impact, it’s going to take a little bit of time. And it’s a big surgical innovations business we have, $6 billion or so. But I will point to the spine business, and Joanne asked the question earlier, two quarters in a row of double-digit implant growth in the U.S., which is 80% of the market. That is largely driven by pull-through of an ecosystem of technology that’s hard to match, that takes a lot of expertise, a lot of balance sheet and a lot of time. And we spent a lot of time on this robot, and we have invested a lot into it, and it’s not just the robot. It is visualization, it is the digital platform. And we are confident that, that ecosystem will be a differentiator for Medtronic and pull through instrumentation and be a durable growth driver for the company.
And that’s why we stuck with it for the last too many years to admit to, to get it to this point. And we feel like we have something to build from.
Rick Wise: Appreciate it. Thanks Geoff. Thank you.
Ryan Weispfenning: Thank you, Rick. Geoff, please go ahead with your closing remarks.
Geoff Martha: Alright. Well, thanks for the questions, some great questions this morning. I really appreciate your support and continued interest in the company, and we hope you will join us for our Q4 earnings broadcast, which we anticipate holding on Thursday, May 25th, where we will update you on our progress and how we finished our fiscal year. And of course, I look ahead at fiscal €˜24. So with that, thanks again for spending time with us today. Please stay healthy and safe, and have a great rest of your day.
