And we did disclose our growth rates in China already so we will continue to disclose that. All right. And then just on the other income tailwind that you've experienced in fiscal '20 outside of FX hedging, can you talk about the drivers of that benefit and then how sustainable and predictable that line item will be going forward? Even though much of it was transient, we did not perform at the level we were expecting, and the drivers surfaced at the end of the quarter. And as a reminder, this is a product that carries a 3x price uplift relative to a standard dual-chamber system and our indications for use cover all AV block patients. OK. Really, the procedure losses in a business like MITG where the procedures happen, that just isn't going to come back. Q1 2021 Medtronic PLC Earnings Call. Next question please. In fact, we'll be meeting with them later this week. For this call, unless we say otherwise, rates and ranges are given on a constant-currency basis which compares to the third quarter of fiscal year 2019 after adjusting for foreign currency. And year-to-date, free cash flow was $4.9 billion, representing a conversion ratio of 90%, well above our full-year target of 80%-plus. Things like the Micra AV which launched last quarter, is now in full steam and moving ahead well, and that one, we're projecting a strong success. We've got to get the new product flow going, and we're confident that we'll be doing that starting soon. We and our partners will store and/or access information on your device through the use of cookies and similar technologies, to display personalised ads and content, for ad and content measurement, audience insights and product development. It sounds like some of the headwinds there, like LVADs and TAVR, may take at least another quarter to address. Good morning and welcome to Medtronic's fiscal year 2020 third-quarter conference call and webcast. RTG's performance was affected by customer buying patterns in BMP and the continued market slowdown and slight share loss in pain stim ahead of our DTM therapy launch. And that's one of the reasons that we've guided MITG to above trend for the quarter. We'll recover fully. In Q3, we grew emerging markets 14% with contributions from geographies around the globe. So can you just help us quantify the third-quarter issues and offer some clarity of what fourth quarter implies in terms of recovery and drivers of acceleration? Hi. At our upcoming investor day in June, I'm going to walk you through what innovation-driven growth means for Medtronic and the comprehensive set of initiatives to take full advantage of the pipeline. We weren't able to offset these issues given that many of them emerged late in the quarter. And Eastern Europe grew 16% which included 39% growth in Russia. And I think what we expect to see is continued improvement as datasets provide that level of comfort. I just wanted to ask Sean if he could just provide his overall thoughts on diabetes since he's kind of taken over the role and then if we could just kind of get an update on 780G.

And welcome to the Medtronic third-quarter earnings conference call. Maybe talk to exactly what happened in the quarter, the dynamics in the U.S. and how you expect this continue throughout fourth quarter and '21. We're talking about focus on increasing our revenue and the overall revenue growth as well as the consistency and predictability of that revenue growth, but we don't want to take a step back on the margin improvement that we've built up and the cash flow conversion improvements that we had done over the last couple of years as a result of our -- these are sustainable changes from our enterprise excellence program so we don't want to take a step back on that. And certainly, we lost some procedures when we weren't able to ship products to customers. We've worked very hard to get an accountability around that, and we're going to -- that's going to stay.

And what we wound up doing because of the relative immaturity of a good bit of our field force is pulling reps who are supporting large accounts to help with that expansion into new accounts. We have a full pipeline that will accelerate our revenue growth and take share not just next quarter but next year and beyond. Thank you. Cumulative Growth of a $10,000 Investment in Stock Advisor, Medtronic (MDT) Q3 2020 Earnings Call Transcript @themotleyfool #stocks $MDT, Top 3 Dividend Stocks You'll Want to Own Forever. The good news however, is that this was more than offset by 90 basis points of operating margin expansion, well ahead of our expectations, resulting in strong EPS and free cash flow growth, both ahead of plan. Regarding the coronavirus, our top concern is the health and well-being of our employees in China and across the globe. Finally, our EPS guidance does not include any charges or gains that would be reported as non-GAAP adjustments to earnings during the fiscal year.

For the fourth quarter, we expect $1.62 to $1.64. Karen, just to confirm from your last question, is the right way to think about fiscal '20. Our adjusted operating margin expanded 90 basis points as we continued to see the benefits of our enterprise excellence initiatives, particularly on the SG&A line. We actually lost a number of -- lots of product -- manufacturing lots of product early in the quarter which now has stabilized. In addition, South Asia grew 13%, as did the Middle East and Africa. Yeah. We received U.S. approval and are launching our Stealth Autoguide cranial robotic system. So those are two very interesting platforms for us in the neuromodulation space. Medtronic (MDT) to Report Q3 Earnings: What's in Store? And as we think about the net other expense or income line item, we had a benefit this quarter. Maybe just some thoughts around the timeline there. First, we drove a better operating margin despite the light top line and free cash flow was outstanding. OK. In diabetes, we grew 0.8%, slightly ahead of expectations.

We're excited about utilizing the strength and capability of Digital Surgery to advance our minimally invasive and robotic surgery platforms. I'll just stick with one.

Because the situation is so fluid, it is difficult to truly quantify the impact just a few weeks into our quarter.

When you look at next year, I think Geoff made some comments on changing incentives. In heart failure, although our LVAD business has anniversaried the headwinds we faced over the past year, the business declined in the low single digits and hasn't returned to the growth levels we were expecting. We also had strong financial leverage driven in part by the debt refinancing that we completed earlier this fiscal year. And with the SureScan leads, it is 1.5 and 3 Tesla full body conditional.

You'll see how to use the two investment approaches - technical and fundamental analysis - to indentify promising securities in strongly trending markets.

Please operator. Absolutely.

What quarter are you expecting it? Also, we will share risk stratification data for our TYRX anti-infection product. And the customer response has been strong in terms of interest in the technology. Larry Biegelsen -- Wells Fargo Securities -- Analyst. So are you still comfortable accelerating off of that 4.5% that we'll see hopefully in the fourth quarter on a same selling day basis?

It does have CE mark. But the rest of China, in places like Beijing and Shanghai, right now, there are procedure delays. Good morning. This was, however, a transient issue. There are others, like the -- in the spinal cord stimulation market, we just launched the Stimgenics waveform on the Intellis platform. Thanks for taking the question. So it sounds like you're seeing a little bit of an improvement in the DCB trends, at least in the U.S. Could you speak to that and whether you think we could see a kind of continued uptick there or a change in the FDA stance at some point during the year?

Importantly, we're continuing to invest in building out a robust long-term pipeline of continuous innovation, invention and disruption. Hi. We're excited about the response we've received from physicians and the broader SCS community following the acquisition announcement and Stimgenics data presentation last month at NANS as well as on our nine-year battery warranty on Intellis. We remain committed to disciplined capital deployment, balancing investment in R&D and tuck-in acquisitions to drive future growth while returning a minimum of 50% of our annual free cash flow to our shareholders. I think we have about $2 billion in China revenue round numbers, an approximately kind of an annual run rate there. It sounds like that is getting pushed a little in the U.S. into next fiscal year. So that is creating a greater sense of confidence in the physician base that the significant morbidity issues that come with not using these drug-coated balloons and just using PTA balloons are beginning to get attention. I think that's the best I can do. And in addition, we are expecting to get labeling expansion to one year dating on that product in the United States which will help us significantly in terms of just the logistics of its growth. Revenue growth fell short of our expectations driven in part by customers curbing their purchasing ahead of our new product launches, principally in CVG and RTG. Our U.S. business declined in the low double digits which is anticipated and resulted from competitive challenges while we await our new products. Obviously, as more datasets come in, they're providing more comfort to physicians and the FDA for that matter, I believe, that the signal that had been observed in those first three randomized trials around SFA seem not consistent with the new data coming in. We're not seeing anything that would cause us to have a concern that the overall market for ICDs is somehow slowing significantly. And if necessary, a related follow up. And so it was really driven by that. Thanks for taking my question.

Obviously, I think you know the Spyral product is available in Europe currently. Omar Ishrak -- Chairman and Chief Executive Officer. Your next question comes from the line of Robbie Marcus with JP Morgan.

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