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) released findings from a study comparing the Nellcor™ Bedside SpO2 Patient Monitoring System and Masimo Radical-7® Pulse CO-Oximeter. The study indicated that Nellcor delivered a statistically significant faster stable oxygen saturation reading in newborns, averaging 15 seconds, compared to 27 seconds for Masimo. Additionally, heart rate discrepancies revealed Masimo often reported false bradycardia, while Nellcor closely aligned with ECG readings. This enhanced accuracy could impact neonatal resuscitation outcomes, adhering to neonatal resuscitation guidelines.
Medtronic has expanded its radial artery access portfolio by acquiring RIST Neurovascular. This portfolio includes the first catheter designed for neurointerventions via the radial artery, enhancing Medtronic's capabilities in treating brain aneurysms and other neurovascular conditions. The Rist 079 Radial Access Guide Catheter and Selective Catheter have received FDA 501(k) clearance. Medtronic has completed over 80 cases with positive feedback from physicians, aiming to further develop this portfolio. Although initial revenue contributions are expected to be low, the acquisition aligns with Medtronic's long-term financial objectives.
Medtronic plc (NYSE:MDT) announced FDA approval for its DiamondTemp™ Ablation (DTA) system, designed to treat recurrent symptomatic paroxysmal atrial fibrillation (AF) in patients unresponsive to drug therapy. The DTA system is the first temperature-controlled, irrigated radiofrequency ablation system utilizing diamonds, which enhances thermal conductivity and allows for efficient energy delivery. The approval follows the successful DIAMOND-AF trial, showing 96.7% freedom from complications in the DTA group. This innovation positions Medtronic to expand its portfolio and meet the needs of AF patients.
Medtronic has initiated the ADAPT-PD trial, the first study to explore the safety and efficacy of adaptive deep brain stimulation (aDBS) for Parkinson's Disease. The trial includes 36 participants across 12 centers in North America, Europe, and Canada. It aims to compare aDBS with standard continuous deep brain stimulation (cDBS) based on patient-reported outcomes over 15 months. The Percept PC device, FDA-approved in June 2020, enables this investigational feature to automatically adjust stimulation based on brain signals. Positive clinical outcomes from ADAPT-PD could enhance Medtronic's positioning in the neuromodulation market.
The Foundry has successfully completed the first-in-human procedure using the Half Moon Medical transcatheter mitral valve repair technology at Oregon Health and Science University as part of an FDA-approved feasibility study. The device addresses severe symptomatic mitral regurgitation, a common heart valve disease affecting approximately four million people in the U.S. The first patient has been discharged and is recovering as anticipated. This innovative solution offers a minimally invasive alternative to traditional open-heart surgery, providing a significant advancement in heart valve repair.
Medtronic plc (NYSE:MDT) announced its participation in the 39th Annual J.P. Morgan Healthcare Conference, scheduled for January 11, 2021. CEO Geoff Martha will present and engage in a Q&A session at 8:20 a.m. EST. The event will be accessible via a live webcast through Medtronic's Investor Relations website, and an archive will be available later that day. Medtronic, headquartered in Dublin, Ireland, is a leading global provider of medical technology, employing over 90,000 staff and serving customers in over 150 countries.
Medtronic (NYSE: MDT) received FDA clearance for its Midas Rex™ high-speed drills and navigated interbody tools integrated with the Mazor™ Robotic Guidance System. This early approval enhances the surgical workflow by improving precision and predictability, which is expected to lead to better patient outcomes. The upgraded Mazor platform offers 3D visualization, increased efficiency, and the ability to visualize disc prep during procedures. The company aims to transform spinal care by addressing customer needs with advanced technologies.
Medtronic plc (NYSE: MDT) announced positive outcomes from the OPuS One Clinical Study involving the OsteoCool™ Radiofrequency Ablation (RFA) System. The study, the largest of its kind for bone metastases, demonstrated significant and swift pain relief in the first 100 patients, with improvements noted just three days post-procedure and sustained for up to six months. Key findings include an 87% incidence of thoracolumbar spine tumors among participants and effective pain management for patients inadequately treated by traditional methods. Results were published in the November edition of the Journal of Vascular and Interventional Radiology.
On December 14, 2020, Medtronic plc (NYSE:MDT) announced Sean Salmon's appointment as Executive Vice President and President of the Cardiovascular Portfolio, effective January 1. He will retain his role leading the Diabetes Operating Unit. Salmon succeeds Mike Coyle, who departs to become CEO of another company. Medtronic's Chairman, Geoff Martha, praised Salmon's leadership experience and success in previous roles. Salmon aims to drive growth and innovation in both the Diabetes and Cardiovascular sectors to enhance patient outcomes.
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