Medtronic plc - MDT STOCK NEWS

Medtronic plc (NYSE:MDT) has appointed Kevin Lofton as an independent director, effective September 15, 2020. Lofton, a seasoned healthcare executive, has extensive experience leading major hospital systems and was most recently CEO of CommonSpirit Health. His appointment is expected to provide the board with valuable insights in navigating the evolving healthcare landscape. Lofton has been recognized multiple times as one of healthcare's most influential figures and is currently the lead independent director at Gilead Sciences.

Medtronic plc (NYSE: MDT) announced a cash dividend of $0.58 per ordinary share for Q2 FY2021, marking a 7% increase from the prior year. This dividend reflects Medtronic's ongoing commitment to returning value to shareholders and continues its record as a member of the S&P 500 Dividend Aristocrats index, having raised dividends for 43 consecutive years. The dividend will be payable on October 16, 2020, to shareholders on record by the close of business on September 25, 2020.

Medtronic announced FDA approval for revised commercial labeling of the Evolut™ TAVR platform, expanding treatment options for patients with bicuspid severe aortic stenosis. The updated guidelines address anatomical characteristics and highlight favorable clinical outcomes, with a 1.3% rate of mortality or disabling stroke within 30 days after the procedure. The Evolut platform is now indicated for symptomatic severe AS patients across all risk categories, enhancing its adoption globally. This revision reflects Medtronic's commitment to providing innovative solutions in heart valve therapies.

Medtronic has launched the ELITE study, a prospective, multicenter trial aimed at confirming the long-term safety and efficacy of its InterStim™ Micro system for treating overactive bladder, fecal incontinence, and non-obstructive urinary retention. The study will enroll 160 patients across 40 sites globally, assessing patient-reported outcomes and quality of life over two years. The InterStim Micro received FDA approval on August 3, 2020, and is positioned as the gold standard in sacral neuromodulation therapy, potentially addressing the needs of millions of patients suffering from bladder and bowel issues.

Medtronic announced the publication of results from the IN.PACT AV Access trial in The New England Journal of Medicine, highlighting the efficacy of the IN.PACT™ AV drug-coated balloon (DCB) for patients with end-stage renal disease (ESRD). The trial involved 330 subjects across three countries and demonstrated a significant reduction in the need for reinterventions—56% fewer than standard treatments—while maintaining a higher primary patency rate (82.2% vs. 59.5%). The study emphasizes the potential for improved patient quality of life and reduced healthcare costs.

Medtronic plc (NYSE: MDT) is set to announce its financial results for the first quarter of fiscal year 2021 on August 25, 2020. The results will be communicated through a news release at approximately 5:45 a.m. CDT, covering the period ending July 31, 2020. A webcast will follow at 7:00 a.m. CDT to discuss these results, accessible at http://investorrelations.medtronic.com/. Additionally, Medtronic plans to report subsequent quarterly results on November 24, 2020, February 23, 2021, and May 27, 2021.

Medtronic announced the first implant of its FDA-approved InterStim Micro neurostimulator for sacral neuromodulation (SNM) therapy at Cleveland Clinic. This device, the smallest rechargeable SNM system, enhances bladder and bowel control for over 55 million Americans suffering from overactive bladder (OAB) and fecal incontinence (FI). Key features include a quick recharge time under an hour, a battery life of 15 years, and MRI compatibility without impedance checks, aimed at improving patient quality of life.

Medtronic has announced a friendly cash tender offer to acquire Medicrea for €7.00 per share, marking a 22% premium over the last closing price. This acquisition aims to enhance Medtronic’s spine surgery capabilities by integrating Medicrea's AI-driven surgical planning and personalized implants. The transaction, supported by major Medicrea shareholders representing 44.4% of its share capital, is expected to close by the end of 2020, pending regulatory approvals. Analysts forecast the deal will be immaterial to Medtronic's adjusted earnings in the initial two years, turning accretive in fiscal year 2023.

Medtronic announced FDA clearance and CE Mark approval for its new LINQ II™ insertable cardiac monitor (ICM), enhancing remote programming capabilities for improved patient management. This device boasts a longevity of 4.5 years and heightened accuracy in detecting abnormal heart rhythms. Notably, it enables clinicians to adjust settings without in-person visits, addressing COVID-19 challenges. LINQ II offers streamlined workflows, reducing time spent on ICM transmissions by 33%, and enhances patient experience through options like smartphone integration.