Medtronic and Medtronic Foundation Partner to Address COVID-19 Surges with Focus on Equity

Rhea-AI Summary

Medtronic plc (NYSE:MDT) announced a $3M contribution to COVID-19 relief, increasing its total support to $56M. The initiative focuses on underserved regions in India, Brazil, and the U.S., addressing medical supplies, treatment sites, and health worker training. Partnering with nonprofits, the Medtronic Foundation aims to improve healthcare equity and combat vaccine hesitancy. Additionally, it will match employee donations 2:1 to eligible nonprofits and engage employees in virtual volunteer efforts.

Positive

• Increased total COVID-19 support to $56M.
• Focused assistance on underserved regions in India, Brazil, and the U.S.
• Partnerships with established nonprofits enhancing community impact.

Negative

• None.

DUBLIN and MINNEAPOLIS, May 13, 2021 /PRNewswire/ -- Medtronic plc (NYSE:MDT) and the Medtronic Foundation announced an additional $3M USD for COVID-19 relief efforts – a combination of financial resources, personal protective equipment (PPE) donations, and Medtronic employee engagement – focused on underserved areas of India, Brazil, the United States, and other global regions. This latest COVID-19 response expands Medtronic and Medtronic Foundation's COVID-19 support to $56M USD.

The Medtronic Foundation is partnering with established nonprofit organizations already on the ground and actively working with communities to combat the COVID-19 surges. These new resources aim to:

• Provide medical supplies and equipment such as personal protective equipment (PPE) and oxygen concentrators.
• Supply temporary COVID-19 treatment sites and quarantine facilities.
• Train frontline health workers, providing coronavirus health education.
• Address vaccine hesitancy to prevent a third surge.

"The overwhelming surge of record-breaking COVID-19 cases and deaths in communities around the world show us how the pandemic exacerbates the social, economic, and health inequities for underserved communities," said Paurvi Bhatt, Medtronic Foundation president. "Together with our nonprofit partners and Medtronic employees, we are focusing this phase of our COVID-19 response on communities in immediate need of care and vaccines in India, Brazil, and the United States to enable more equitable access so people have an opportunity to survive this devastating pandemic."

Engaging Together
In addition to financial support to nonprofit partners and facilitating product donations, the Medtronic Foundation is matching 2:1 Medtronic employee and retiree donations to eligible nonprofit organizations worldwide and to the Medtronic Employee Emergency Assistance Fund (MEEAF) to support Medtronic employees and their families impacted by COVID-19.

For the 90,000+ global Medtronic employees, the Medtronic Foundation also is organizing virtual volunteer opportunities to support non-profit organizations responding to the COVID-19 surges include serving as vaccine ambassadors and training healthcare workers in underserved areas.

About Medtronic Foundation
Medtronic plc is the sole funder of Medtronic Foundation, whose focus is on improving lives for underserved populations worldwide, as well as supporting communities in which Medtronic employees live and give. For more information, please visit medtronicfoundation.org.

About Medtronic
Medtronic plc (www.medtronic.com), headquartered in Dublin, Ireland, is among the world's largest medical technology, services and solutions companies – alleviating pain, restoring health and extending life for millions of people around the world. Medtronic employs more than 90,000 people worldwide, serving physicians, hospitals and patients in more than 150 countries. The company is focused on collaborating with stakeholders around the world to take healthcare Further, Together.

Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic's periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results.

Contacts:
Elizabeth Costello	John Jordan
Medtronic Foundation	Medtronic
Public Relations	Public Relations
+1-612-940-7693	+1-508-452-4891
Ryan Weispfenning
Medtronic
Investor Relations
+1-763-505-4626

 

 

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SOURCE Medtronic plc

FAQ

What recent funding has Medtronic (MDT) provided for COVID-19 relief?

Medtronic announced an additional $3M for COVID-19 relief, raising its total support to $56M.

Which regions is Medtronic (MDT) focusing on for COVID-19 support?

The focus areas include underserved regions in India, Brazil, and the United States.

How is Medtronic (MDT) engaging its employees in COVID-19 relief efforts?

Medtronic is matching employee donations 2:1 and organizing virtual volunteer opportunities to support nonprofit organizations.

What types of resources is Medtronic (MDT) providing through its COVID-19 response?

Resources include medical supplies, treatment sites, health worker training, and efforts to address vaccine hesitancy.