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 Australasia has selected Alimetry and The Clinician as winners of the inaugural Medtronic APAC Innovation Challenge (MAIC). This challenge received over 320 applications from 46 countries, showcasing regional healthcare innovations. Winners gain collaboration opportunities with Medtronic, including funding for commercialization efforts valued at up to US$200,000. The initiative, launched in October 2021, aims to foster local innovations addressing healthcare challenges in the APAC region.
Medtronic plc (NYSE: MDT) announced the commencement of the TITAN 2 pivotal study, focusing on the implantable tibial neuromodulation (TNM) device intended to treat overactive bladder (OAB). The first patient implants were completed, marking a significant step towards expanding access to advanced bladder incontinence therapies. This minimally invasive device aims to stimulate the posterior tibial nerve, potentially improving patient convenience and treatment options. The study will involve 130 patients across 30 U.S. sites, with follow-ups extending to 24 months.
Medtronic announced key leadership transitions for its Diabetes, Surgical Robotics, and Cardiac Rhythm Management units as of March 17, 2022. Que Dallara joins as EVP & President, Diabetes, leveraging her experience from Honeywell and Microsoft. Mike Marinaro steps in as President, Surgical Robotics, after leading a $4 billion annualized revenue segment. Dr. Kweli Thompson takes the role of President, Cardiac Rhythm Management, aiming to enhance growth and profitability. These changes are expected to strengthen Medtronic's market position and attract world-class talent.
Medtronic's GI Genius intelligent endoscopy module demonstrates improved polyp detection during colonoscopy, according to findings published in Gastroenterology. The study revealed a 50% reduction in adenoma miss rates when using GI Genius compared to standard techniques (15.5% vs 32.4%; p < 0.001). Additionally, false negative rates decreased significantly (6.8% vs 29.6%). Conducted across multiple centers, the study involved 249 participants, emphasizing AI's role in enhancing colorectal cancer screening accuracy. Medtronic is the exclusive distributor of GI Genius, which has received U.S. FDA authorization.
On March 9, 2022, Medtronic (NYSE: MDT) announced a contract with Vizient to integrate Touch Surgery Enterprise, an AI-powered surgical video management platform, into Vizient’s offerings. This platform enhances surgical training and performance by simplifying the recording, analysis, and sharing of surgical videos. It connects with existing OR equipment and supports hospitals in digitizing their processes. The agreement aims to provide nationwide access to surgical video data, enabling improved patient care and operational efficiencies across U.S. healthcare facilities.
The board of directors of Medtronic plc (NYSE:MDT) has approved a cash dividend of $0.63 per ordinary share for Q4 of fiscal year 2022, marking an 8.6% increase from the previous year. This dividend aligns with the company's commitment to returning value to shareholders, maintaining its status as an S&P 500 Dividend Aristocrat with a continuous annual dividend increase for 44 years. The dividend is set to be paid on April 22, 2022, to shareholders on record by March 25, 2022.
Medtronic (NYSE: MDT) announced its participation in the 42nd annual Cowen healthcare conference on March 7, 2022. The event will feature Karen Parkhill, Medtronic's executive vice president and CFO, who will engage in a Q&A session starting at 1:30 p.m. EST (12:30 p.m. CST). A live webcast of this session will be available on Medtronic's investor relations website, with an archive accessible later that day. Medtronic is a global leader in healthcare technology, addressing major health challenges with innovative solutions.
Medtronic plc (NYSE: MDT) has launched the NuVent™ Eustachian tube dilation balloon, approved by the FDA for treating chronic obstructive Eustachian Tube Dysfunction. This innovative product allows outpatient treatment through its customizable and flexible design. Eustachian Tube Dysfunction affects approximately 4.6% of U.S. adults, causing pain and hearing issues. The NuVent™ balloon offers a minimally invasive solution that improves patient convenience and outcomes, as highlighted by medical experts. Medtronic continues to expand its portfolio for ENT procedures, addressing significant healthcare challenges.
Medtronic (NYSE:MDT) has received FDA approval for the InterStim X, a rechargeable device designed for sacral neuromodulation therapy, now available for patients. This system, part of the InterStim portfolio, boasts over 10 years of battery life without recharging, enhancing patient convenience. Backed by 90+ clinical studies and treating over 350,000 patients, the InterStim X is a significant advancement for conditions like overactive bladder and fecal incontinence. This release marks a pivotal milestone as Medtronic celebrates 25 years of innovation in nerve stimulation therapies.
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