Welcome to our dedicated page for Medtronic plc news (Ticker: MDT), a resource for investors and traders seeking the latest updates and insights on Medtronic plc stock.
Medtronic plc (NYSE: MDT) is an American medical device company with its operational and executive headquarters in Minneapolis, Minnesota, and legal headquarters in Dublin, Ireland, following its acquisition of Covidien in 2015. As one of the largest medical-device companies globally, Medtronic specializes in developing and manufacturing therapeutic medical devices for chronic diseases.
The company’s extensive product portfolio includes pacemakers, defibrillators, heart valves, stents, insulin pumps, spinal fixation devices, neurovascular products, advanced energy, and surgical tools. It markets these products to healthcare institutions and physicians worldwide, with international sales accounting for approximately 50% of its total revenue.
In a recent announcement on April 10, 2024, Medtronic unveiled significant advancements in artificial intelligence (AI) for endoscopic care through the launch of ColonPRO™ software for the GI Genius™ intelligent endoscopy system. This new software improves polyp detection and introduces procedural highlights to enhance physicians' workflow. The company has also entered into a collaboration with Modernizing Medicine® to integrate AI-driven data with electronic health records (EHR).
Medtronic recently reported its financial results for the fourth quarter and fiscal year 2024, showcasing a global revenue of $32.364 billion, a 3.6% increase compared to the previous year. The company's revenue growth was fueled by advancements in its Cardiovascular, Neuroscience, Medical Surgical, and Diabetes portfolios.
In addition to its financial performance, Medtronic has made strides in technological innovation. The U.S. FDA approved the Inceptiv™ closed-loop rechargeable spinal cord stimulator (SCS) for chronic pain treatment, demonstrating the company’s commitment to addressing unmet clinical needs and improving patient care through advanced technologies.
Medtronic remains dedicated to its mission of alleviating pain, restoring health, and extending life, driven by a global team of over 95,000 employees across 150 countries. The company continues to leverage its diverse knowledge and insatiable curiosity to deliver innovative solutions that transform lives. For more information, visit Medtronic's official website.
Medtronic plc (NYSE:MDT) has announced plans to separate its Patient Monitoring and Respiratory Interventions businesses into a new entity, referred to as NewCo. This strategic move aims to enhance operational focus and drive value creation for stakeholders. The separation is expected to be tax-free for U.S. shareholders and is anticipated to complete within 12 to 18 months, subject to regulatory approvals. NewCo will provide connected care solutions, leveraging its strong commercial footprint and wide-ranging product portfolio, which generated approximately $2.2 billion in revenue in fiscal 2022.
Medtronic (NYSE:MDT) announced significant approvals for its Hugo™ robotic-assisted surgery system, enhancing its market presence globally. The approvals include CE Mark clearance for general surgery in the EU, a license for laparoscopic surgery in Canada, and MHLW approval for urologic and gynecologic laparoscopic procedures in Japan. These milestones position Medtronic to access key markets, particularly in Japan, the third-largest robotic surgery market, and capitalize on the growth of minimally invasive procedures, which account for over 80% of global RAS procedures.
Medtronic plc has launched a groundbreaking program called My Insights for users of the MiniMed™ 770G system, utilizing data science to deliver personalized diabetes management tips and trends. This is the first program offering tailored insights based on individual user data, enhancing diabetes care with monthly educational emails. The MiniMed 770G system, known for its automated insulin adjustments and smartphone connectivity, supports users aged two and above. Medtronic aims to simplify diabetes management and empower users with customized tools.
Medtronic has received FDA approval for its SelectSecure Model 3830 cardiac lead to include left bundle branch area pacing, enhancing its conduction system pacing capabilities for patients with bradycardia. This innovative method mimics natural heart contraction, reducing complications associated with traditional pacing. The approval is based on evidence from over 20,000 patients, demonstrating a 92% procedural success rate and a low complication rate of 2.5%. Medtronic remains the only company with FDA-approved therapies for conduction system pacing, further solidifying its leading position in cardiac pacing technologies.
Medtronic plc (NYSE:MDT) announced a live webcast on November 7, 2022, at 5 p.m. CST, to discuss updates on its Coronary and Renal Denervation business during AHA 2022. The webcast will feature management remarks and present the 6-month results from the SPYRAL HTN-ON MED Randomized Trial. The ON MED data will be presented earlier that day, starting at 3:38 p.m. CST. A press release detailing the ON MED results will also be issued on the same date. A replay of the webcast will be available within 24 hours on Medtronic's investor relations page.
Medtronic plc announced the release of its Fiscal Year 2022 Integrated Performance Report, emphasizing progress in health equity, workforce diversity, and environmental sustainability. Key highlights include:
- Investment of over $69 million for healthcare training, reaching 350,000 medical professionals.
- $2.7 billion invested in R&D.
- Reduction of greenhouse gas emissions intensity by 35%.
The report reflects Medtronic's commitment to its mission of improving health outcomes globally.
Medtronic plc (NYSE: MDT) announced the successful closing of a public offering totaling €3.5 billion in Senior Notes. This includes €500 million of 2.625% Notes due 2025, €1 billion of 3.000% Notes due 2028, €1 billion of 3.125% Notes due 2031, and €1 billion of 3.375% Notes due 2034. The net proceeds, approximately €3.47 billion, will be used to repay maturing senior notes and for general corporate purposes. The offering was managed by leading financial institutions, and all notes are guaranteed by Medtronic plc.
Ra Medical Systems, Inc. (RMED) announced the approval of three proposals at its Special Meeting of Stockholders held on September 20, 2022, including a crucial 1-for-50 reverse stock split. This measure is intended to maintain compliance with NYSE American listing standards, following a notice regarding low stock prices. Additionally, the Company plans to merge with Catheter Precision, which focuses on cardiac electrophysiology technology. The merger is anticipated to close by the end of 2022, pending shareholder approval and other conditions.
Medtronic plc (NYSE:MDT) has received FDA clearance for the LINQ II Insertable Cardiac Monitor (ICM), marking it the first and only device cleared for long-term monitoring in pediatric patients over the age of 2 with heart rhythm abnormalities. This innovation is significant for pediatric cardiologists, offering critical data for diagnosing and managing heart conditions.
The LINQ II ICM is compact, wireless, and features a battery life of up to 4.5 years. It incorporates AccuRhythm AI algorithms, reducing false alerts significantly while ensuring accurate monitoring.
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