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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 plc (NYSE: MDT) announced advancements in its extended wear infusion set technology during the American Diabetes Association's 80th Scientific Sessions. This new infusion set can be used safely for up to 7 days, more than twice the lifespan of current 3-day sets. Clinical studies indicate improved insulin stability, reducing the risk of hyperglycemia. Patients can potentially save 5-10 vials of insulin annually. The product has received the CE Mark, and a pivotal trial in the U.S. is underway to study its safety and efficacy.
Medtronic has announced a significant funding agreement with Blackstone Life Sciences to enhance its research and development in diabetes management. The collaboration will provide $337 million over several years, focusing on innovative insulin delivery and sensor technologies. This investment aims to address unmet needs for the 22 million global Type 1 diabetes patients. Medtronic plans to fast-track multiple development programs while the funding will cover R&D expenses, with potential royalties in the low- to mid-single digits if commercialized.
Medtronic announced positive results from two pivotal clinical trials for its MiniMed™ 780G automated insulin pump aimed at improving Type 1 diabetes management. The U.S. trial, focusing on ages 14-75, showed 96% user satisfaction, no severe hypoglycemia, and an average A1C of 7.0%. A New Zealand trial highlighted a 13-point boost in Time in Range for less-controlled patients. Bluetooth connectivity for real-time glucose monitoring is also a feature. The findings will support an upcoming FDA Premarket Approval application.
Medtronic (NYSE:MDT) has received CE Marking for its MiniMed™ 780G insulin pump, designed for type 1 diabetes patients aged 7 to 80. This system automates insulin delivery via the SmartGuard™ algorithm, providing basal insulin and correction boluses every five minutes. It allows customizable glucose targets and features Bluetooth connectivity for real-time glucose monitoring. Clinical feedback highlights improved diabetes management and quality of life. The MiniMed 780G is set to ship in select European markets this fall but is still under investigation in the U.S.
Medtronic (NYSE:MDT) announced participation in the American Diabetes Association's 80th Scientific Sessions, running from June 12-16, 2020. The company will present 16 data presentations, including a symposium on its Advanced Hybrid Closed-Loop Systems and related technologies. Medtronic's virtual exhibit will showcase innovations in diabetes technology and telehealth support. The presentation aims to highlight clinical outcomes and differentiated support offerings, focusing on improved diabetes management.
Medtronic has received CE Mark approval for a one-month dual antiplatelet therapy (DAPT) indication for high bleeding risk (HBR) patients implanted with its Resolute Onyx™ Drug-Eluting Stent. This first-of-its-kind global approval allows shorter DAPT regimens for HBR patients, which comprise nearly 40% of all PCI patients. The decision is based on the Onyx ONE Global Study, demonstrating non-inferior outcomes compared to a competitive device. Medtronic aims to secure similar approval in the U.S. after submitting relevant data to the FDA.
Medtronic plc (NYSE: MDT) will participate in the Goldman Sachs 41st Annual Global Healthcare Conference on June 9, 2020. CEO Geoff Martha will speak starting at 8:00 a.m. EDT. A live audio webcast will be accessible on Medtronic's Investor Relations site, with an archive available later the same day. Medtronic, headquartered in Dublin, is a global leader in medical technology, employing over 90,000 people and serving more than 150 countries.
Medtronic (NYSE: MDT) announced its participation in the Jefferies 2020 Global Healthcare Conference on June 3, 2020. Karen Parkhill, the CFO, will address questions at 2:30 p.m. EDT. A live audio webcast will be accessible via the Investor Events link on the Medtronic investor relations page, with a replay available later the same day. Medtronic operates globally, employing over 90,000 people and serving patients in more than 150 countries, focusing on advancing healthcare solutions.
Medtronic (NYSE: MDT) announced its participation in the Bernstein 36th Annual Strategic Decisions Conference on May 29, 2020. CEO Geoff Martha will present and address questions starting at 9:00 a.m. EDT. The event will be held virtually and can be accessed through the Investor Events link on Medtronic's investor relations page. An archive of the presentation will be available later that day. Medtronic is a leader in medical technology, operating in over 150 countries and focused on improving global healthcare.
Medtronic (NYSE: MDT) announced FDA approval for the Android version of its Guardian Connect continuous glucose monitoring (CGM) system. This system alerts users of potential high or low glucose events up to 60 minutes in advance and aims to enhance the diabetes management experience. The Guardian Connect app will introduce features such as an in-app Startup Wizard and customizable alert functions. A real-world study showed that predictive alerts helped patients avoid 65% of low glucose excursions. Updated systems are expected to ship in summer 2020.
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