In an interview with DeviceTalks Weekly Podcast, Truist Securities managing director Kaila Krum says Medtronic executives are retooling the company to keep pace with smaller, more focused competitors. Breaking down the company’s Q1 call, Krum says Medtronic is seen as a company that’s too big to grow market share quickly. On the call, new CEO […]
Medtronic
The top 5 MassDevice stories of the week — August 28, 2020
As earnings season concludes and the COVID-19 pandemic roars on, medtech companies continue to find new ways to make waves. This week’s top five MassDevice stories showcase how companies are operating in the “new normal,” as they look toward the post-pandemic future, whenever that may arrive. Strong quarterly earnings, big funding rounds and new innovations in […]
7 technologies to make a ‘new Medtronic’ even more powerful
It’s been four months since Geoff Martha took over the corner office at Medtronic (NYSE:MDT), and it’s becoming clear that he has ambitious plans for the world’s largest medical device company. During the company’s Q1 earnings call on Aug. 25, Martha said management in the coming weeks plans to outline plans for a “new Medtronic” that […]
Medtronic’s recovery ‘faster than expected’ during its Q1
Medtronic (NYSE:MDT) shares ticked up today on first-quarter results that came in ahead of the consensus forecast. The Fridley, Minn.-based company posted profits of $491 million, or 36¢ per share, on sales of $6.5 billion for the three months ended July 31, 2020, for a -44% bottom-line slide on a sales decline of -13.2%. Adjusted to […]
FDA approves expanded use for Medtronic’s Evolut TAVR
Medtronic (NYSE:MDT) announced last week that it received FDA approval for revised commercial labeling on its Evolut TAVR platform. Fridley, Minn.-based Medtronic said in a news release that the revised labeling modified a precaution for the treatment of bicuspid severe aortic stenosis (AS) patients who are at low risk of mortality during surgical transcatheter aortic valve […]
MedTech 100 roundup: Up-and-down week for industry
Medtech stocks highlighted the topsy-turvy nature of the market last week, but ultimately finished the seven days nearly unchanged. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 89.77 points at the end of last week (Aug. 14). Overall, medtech stocks saw a 0.13% increase from the […]
DTW Podcast: Vizient on PPE, Vicarious on VR-aided robotics and let’s all hope for pumpernickel
This week’s episode of DeviceTalks Weekly is brought to you by the later V, as in Vizient and Vicarious Surgical. Bharat Sundaram, COO and president of Vizient, will share how the healthcare supplier is strengthening the supply of PPE for hospitals. He’ll also reveal when the company expects to see US hospitals running at pre-COVID […]
The top 5 MassDevice stories of the week — August 14, 2020
COVID-19 continues to batter medical device companies — not to mention the world as a whole. But some of this week’s top five MassDevice stories demonstrate that medtech companies continue to innovate and ink business deals as they look toward a post-pandemic future. Want to hear more about the week’s top news? Executive editor Chris […]
Vietnam’s Vingroup to supply ventilator parts to Medtronic
When Medtronic (NYSE:MDT) announced in April that it had tapped Foxconn to manufacture ventilators at the Chinese company’s Wisconsin plant, then-Medtronic CEO Omar Ishrak said that Medtronic is also working with “major players” in Asia to expedite ventilator production. This week, Vietnam’s largest conglomerate, Vingroup, announced that it had inked a deal for two of its companies — […]
Hyderabad to become Medtronic’s largest R&D center outside of U.S.
Medtronic (NYSE:MDT) is reportedly set to make its Hyderabad, India research & development center into its second-largest research hub across the world. According to a report in Business Today, Medtronic committed an investment of Rs 1,200 crore (approximately $1.6 billion) to fund the expansion within five years. The company’s VP of the Indian Subcontinent, Madan Krishnan, told Business […]
CMS proposes coverage updates that could increase access to VADs
The Centers for Medicare & Medicaid Services (CMS) today proposed coverage policy updates meant to increase access to VADs and artificial hearts. The policy updates, if approved, could be good news for major VAD makers Abbott (NYSE:ABT) and Medtronic (NYSE:MDT) — as well as people with heart failure who are waiting for a heart transplant or don’t […]