Medtronic Inc. (NYSE:MDT) unwrapped new enhancements to Physio-Control Inc., hoping to ignite a spark in its on again/off again defibrillator subsidiary.
The Fridley, Minn.-based company débuted Lifenet System 5.0, its next generation Internet-based data network, at the annual American Heart Assn. meeting in Chicago today.
Lifenet allows emergency medical teams and hospitals to remotely manage and monitor patients’ defibrillators, accessing data including location, battery life and software updates. The new version features an iPhone app that helps doctors quickly communicate with emergency teams and hospitals and a way to securely transmit electronic medical records.
Medtronic also said Physio-Control will partner with AirStrip Technologies, a maker of mobile medical software.
Physio-Control’s performance has been erratic of late. This past summer, the Food & Drug Administration issued a Class I recall, its most serious level, because Physio-Control’s LifePak monitor/defibrillators can lose power due to a battery malfunction when not plugged in to an electricity source.
Last year, Physio-Control generated revenues of $425 million, a 24 percent gain from the previous 12 months. But Medtronic said first quarter sales dropped 13 percent to $84 million.
