Major medtech companies with a presence in the Minnesota and elsewhere have been calling for peace, unity and racial justice following the death of George Floyd in police custody and the resulting demonstrations and violence. Executives from Boston Scientific, Medtronic and the Medical Alley Association have penned open letters expressing their concerns and pledging to […]
Medtronic
U of M releases Coventor ventilator design as open-source
The University of Minnesota recently announced that it released the design for its Coventor alternative ventilator as open-source. Minnesota’s Coventor low-cost device gained notoriety in March after researchers touted the design made from various parts totaling just $150. In April, it became the first ventilator of its kind authorized for use under the FDA’s EUA […]
Medtronic is making its ‘artificial lung’ therapy available for COVID-19 treatment
Medtronic (NYSE:MDT) is temporarily modifying product indications so that health providers can use its extracorporeal membrane oxygenation (ECMO) technology to treat people with severe cases of COVID-19. ECMO could be described as a type of “artificial lung” technology that pumps blood from a person’s body to an oxygenator that provides long-term oxygen and carbon-dioxide transfer. Medtronic […]
Medtronic recall of DBS placement software is Class I
FDA said today that a Medtronic (NYSE:MDT) recall of software used to help place deep brain stimulation systems is Class I, the agency’s most serious level. The company in August 2019 recalled the auto-registration feature of its StealthStation DBS software due to inaccuracies caused by minor patient movements during the auto-registration process when used with NexFrame […]
Four deaths linked to Medtronic HeartWare recall
FDA has designated a Medtronic (NYSE:MDT) recall of its HeartWare HVAD Pump Outflow Graft and Outflow Graft Strain Relief as Class I — its most serious level. Medtronic, according to FDA, said the outflow graft of the HVAD Pump could tear and the strain relief screw may break during assembly prior to implant, but might not be […]
Poll: Patients want to return to the doctor
AdvaMed said polling data confirmed that nearly half of American adults surveyed said they or someone in their household postponed or skipped medical care as a result of COVID-19. The poll, released yesterday by the Kaiser Family Foundation showed that 48% of those adults or adults in their household had to put off medical care […]
Report: New Medtronic CEO challenges Trump on ‘reshoring’
New Medtronic (NYSE:MDT) CEO Geoff Martha openly disagreed yesterday with President Donald Trump’s mission to bring formerly U.S.-based companies back to this country, according to a report in the Irish Times. Medtronic, which maintains a U.S. headquarters in Fridley, Minn., bought Dublin-based Covidien for $50 billion in 2015 and moved its global headquarters to Ireland in […]
15 heart devices that could boost their manufacturers’ sales
Before the coronavirus pandemic hit, medtech companies large and small were making notable news with a number of innovative heart devices. Some of these same companies took a big hit to their bottom lines when the danger of spreading COVID-19 and using up precious personal protective equipment convinced hospitals to limit non-urgent procedures. Now hospitals […]
Medtronic execs see quick recovery, increased M&A
If Medtronic’s troubling Q4 report offers a snapshot of a company hit hard by COVID-19, the next image in the sequence may show a faster-than-expected recovery and increased merger-and-acquisition of smaller companies. In the quarterly call on Thursday morning, Medtronic CEO Geoff Martha and CFO Karen Parkhill expressed optimism that the company’s businesses already are […]
Medtronic misses mark in Q4 as sales decline 26%
Medtronic (NYSE:MDT) announced fourth-quarter results today that were even worse than expected, but the world’s largest medical device company is still upping its dividend and investing in future growth. The Fridley, Minn.–based medtech giant reported profits of $646 million, or $0.48 per share, on sales of $6.0 billion for the three months ended April 24, 2020, […]
Medtronic appoints new VP & CMO for coronary, renal denervation & structural heart
Medtronic (NYSE:MDT) announced that it appointed Dr. Jeffrey Popma as its new VP and chief medical officer for coronary, renal denervation and structural heart business. Popma, a professor of medicine at Harvard Medical School and director of interventional cardiology at Beth Israel Deaconess Medical Center in Boston, is slated to provide medical leadership across those businesses, […]