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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 (NYSE:MDT) has received FDA 510(k) clearance for its PillCam™ Small Bowel 3 system, enabling remote endoscopy procedures through the PillCam SB3 @HOME program. This innovation allows patients to undergo telehealth procedures for detecting gastrointestinal issues such as Crohn's disease and obscure bleeding from home. The system captures approximately 50,000 images during the procedure, which are securely transmitted for diagnostic review, enhancing patient safety and convenience. This marks a significant development in remote healthcare technology, especially post-pandemic.
Medtronic plc (NYSE:MDT) announced four key executive appointments to enhance its healthcare technology leadership. Bob Hopkins becomes head of global strategy, Mei Jiang takes on the role of global digital innovation leader, while Harry 'Skip' Kiil and Mira Sahney will lead the Cranial and Spinal Technologies and Pelvic Health Operating Units, respectively. These appointments aim to bring diverse expertise and accelerate innovation in a rapidly evolving medical technology landscape, furthering Medtronic's mission to deliver transformative healthcare solutions.
Medtronic plc (NYSE:MDT) will announce its financial results for Q2 FY2022 on November 23, 2021, at approximately 5:45 a.m. CST. The results will cover the quarter ending October 29, 2021. A video webcast to discuss these results will take place at 7:00 a.m. CST on the same day. Medtronic is scheduled to report its Q3 and Q4 results in February and May 2022, respectively. The company, based in Dublin, focuses on healthcare technology solutions, aiming to alleviate pain and restore health.
Medtronic announced early data from its Intrepid transcatheter mitral valve replacement (TMVR) system at the TCT conference following FDA IDE approval for transfemoral access in the APOLLO trial. Early results show 100% survival and no strokes among the first 15 patients, with a median procedure time of 46 minutes and trace mitral regurgitation in all patients at 30 days. This delivery method may reduce procedural risks. The Intrepid system has been employed in over 350 patients globally, indicating significant interest in its potential for wider clinical use.
Medtronic (NYSE:MDT) announced positive five-year clinical results from the SURTAVI Trial for TAVR patients at intermediate risk. The trial revealed that TAVR with the CoreValve and Evolut platforms demonstrated comparable all-cause mortality rates (30.0% for TAVR vs. 28.7% for SAVR) and lower mean aortic valve gradients (8.6 mm Hg vs. 11.2 mm Hg), ensuring valve performance and safety. The study included 864 TAVR patients compared to 796 surgical patients, highlighting the long-term viability of TAVR in treating severe aortic stenosis.
Medtronic has presented findings from a Patient Preferences study on hypertension treatment at TCT 2021, revealing that patients are willing to accept interventions even with modest blood pressure reductions. The study showed that 76.5% would consider renal denervation (RDN) for a 10 mmHg decrease. Additionally, Medtronic launched the SPYRAL AFFIRM study, focusing on the safety and efficacy of RDN in patients with uncontrolled hypertension and comorbidities. The study will enroll 1,000 patients over three years and is part of a broader effort to establish RDN as a viable treatment option.
Medtronic plc (NYSE: MDT) and Rune Labs have announced a collaboration aimed at enhancing patient care through neurostimulation data analysis. The project will utilize Rune's software to integrate and analyze data from Medtronic's Percept™ PC Neurostimulator and the StrivePD Apple Watch app, focusing on Parkinson's disease treatment. This innovative approach will enable continuous monitoring of local field potentials, potentially guiding personalized treatment decisions. The initiative includes a 12-month monitoring plan for up to 1,000 patients across selected DBS centers.
Medtronic plc (NYSE:MDT) has appointed Dr. Austin L. Chiang as the Chief Medical Officer (CMO) for its Gastrointestinal (GI) business. Dr. Chiang, an accomplished gastroenterologist, will offer strategic guidance on clinical communications, risk management, and patient safety throughout the product lifecycle. His expertise includes advanced endoscopy and obesity medicine, enhancing Medtronic's innovation in GI care. Dr. Chiang will continue his clinical practice at Jefferson Health while contributing to product development and clinical trials at Medtronic.
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