Welcome to our dedicated page for Medtronic news (Ticker: MDT), a resource for investors and traders seeking the latest updates and insights on Medtronic stock.
Medtronic plc (MDT) is a global leader in medical technology, developing innovative healthcare solutions that address chronic diseases and complex conditions. This dedicated news hub provides investors and professionals with timely updates on the company's strategic initiatives, regulatory milestones, and technological breakthroughs.
Access authoritative information spanning earnings announcements, product approvals, partnership developments, and clinical trial outcomes. Our curated collection ensures you stay informed about MDT's advancements in cardiac care, neuromodulation, diabetes management, and surgical robotics.
Discover press releases detailing regulatory submissions, executive appointments, and global market expansions. Each update is verified for accuracy, offering insights into how Medtronic maintains its position at the forefront of medical innovation while navigating evolving healthcare landscapes.
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Medtronic LABS is expanding its scope to address comprehensive community health needs rather than focusing solely on specific diseases. Acknowledging that over 5 billion people lack access to healthcare, the organization aims to enhance healthcare delivery across various conditions including hypertension, diabetes, mental health, and more.
With its technology platform SPICE, LABS has reached over 1 million patients and trained more than 6,500 health workers globally. The initiative is set to grow further with new partnerships, potentially amplifying its impact 10 times over the next few years.
Volunteer Appreciation Month is celebrated every April, recognizing the impact of volunteers and encouraging ongoing volunteerism. The Medtronic Foundation supports communities through resources that enhance volunteer efforts. Marcus Reid, a 30-year Medtronic employee, initiated a grassroots project to teach young probationers their strengths through skills-based volunteering. This initiative has gained traction, with the District Attorney's office requesting training for their staff. Reid's program helps individuals like James, a 20-year-old probationer, to develop self-esteem and explore educational opportunities. The Medtronic Foundation also offers volunteer grants and matching programs to further encourage employee involvement in community support.
Medtronic and DaVita have launched Mozarc Medical, an independent kidney health technology company aimed at enhancing patient care. Announced on April 1, 2023, Mozarc Medical will leverage expertise from Medtronic's former Renal Care Solutions unit and DaVita's leadership to innovate in kidney health technologies. CEO Ven Manda emphasized the need for patient-centered solutions, particularly as demand for in-home kidney care rises. Both companies hold equal equity stakes in Mozarc Medical, which had combined revenues of $64 million, $63 million, and $70 million in the first three quarters of Medtronic's fiscal year 2023.
Medtronic's CFO, Karen Parkhill, highlighted significant strides in gender representation and pay equity within the company during her tenure. By 2022, women constituted 51% of the workforce, with 43% in management and 36% on the board. Parkhill is dedicated to elevating women's roles in the medical device industry and supports Medtronic's international pay equity efforts, achieving 100% gender pay equity in the U.S. and 99% globally. Her experience spans major financial institutions, with a focus on transforming the finance function at Medtronic to enhance patient care. Parkhill's commitment to inclusion and diversity aims to reshape corporate culture for future growth.
Medtronic plc (NYSE: MDT) announced the pricing of a $2 billion offering of senior notes through its subsidiary Medtronic Global Holdings S.C.A. The offering consists of $1 billion of 4.25% senior notes due in 2028 and $1 billion of 4.50% senior notes due in 2033. Proceeds from the offering will primarily be used to repay existing debt, including a portion of Medtronic Luxco's yen-denominated term loan, alongside general corporate purposes. The offering is expected to close on March 30, 2023, subject to standard conditions, and is managed by Barclays Capital Inc., J.P. Morgan Securities LLC, and Mizuho Securities USA LLC.
Medtronic highlights the journey of Mira Sahney, president of the company's Pelvic Health business, emphasizing her dedication to enhancing health care access and supporting women in STEM fields.
Sahney's background includes engineering roles in military aircraft, CEO of a startup, and co-founder of a neuro-robotics firm. She aims to mainstream the company’s InterStim therapy for bladder and bowel control, which affects millions yet remains stigmatized.
The Pelvic Health Operating Unit recently initiated a study on a new implantable tibial neuromodulation therapy, potentially lowering care costs and improving patient access.
Medtronic (NYSE: MDT) has announced a strategic collaboration with Cosmo Pharmaceuticals and NVIDIA to launch the GI Genius™ AI Access™ platform, designed to enhance AI innovation in healthcare. This platform will incorporate NVIDIA's AI technologies into the GI Genius™ intelligent endoscopy module, the first FDA-cleared AI-assisted colonoscopy tool. The initiative aims to host multiple AI algorithms and facilitate third-party developers in creating real-time AI applications to improve patient outcomes. This announcement coincides with the inaugural GI Genius™ summit hosted in Minneapolis, showcasing advancements in AI for gastrointestinal procedures.
Medtronic announced its commitment to the Science Based Targets initiative (SBTi), joining over 4,600 organizations aiming to achieve carbon neutrality. The SBTi guides companies in setting science-based emissions reduction targets in line with climate science. Medtronic aims for operational carbon neutrality by FY30 and net-zero emissions across all scopes by FY45. This formal commitment emphasizes the company's dedication to reducing its carbon footprint and addressing climate change risks. Targets will be validated by SBTi within 24 months, marking a significant step in Medtronic's sustainability journey.
Medtronic (NYSE:MDT) received CE Mark approval for its Affera Mapping and Ablation System, featuring the Sphere-9 Catheter, on March 15, 2023. This innovative system integrates pulsed field ablation, radiofrequency, and high-density mapping technologies, aimed at treating atrial arrhythmias, including atrial fibrillation (AFib), which affects nearly 60 million globally. The Sphere-9 Catheter allows for efficient procedure times by requiring fewer ablation applications. The product is set to be commercially available in Europe in the first half of 2023, while it remains investigational in the U.S.
