Major U.S. medical device company stocks have generally performed as poorly as others over the past two weeks as the global coronavirus outbreak drive markets down. Among 20 of the largest U.S. companies on Medical Design & Outsourcing and MassDevice‘s annual Big 100 list, both the average and median decline in price was roughly 17% […]
Medtronic
Medtronic issues urgent field safety notice for some Pipeline Flex embolization devices
Medtronic (NYSE:MDT) issued an urgent field safety notice to warn on specific production lots of its Pipeline Flex embolization devices due to the potential for device fracture. The medtech giant initiated verbal communication about the issue last month after identifying the potential for device fracture at the distal section during use, due to a weakened bond […]
Is Medtronic eyeing LivaNova for a takeover?
Some industry analysts are speculating that Medtronic (NYSE:MDT) might want to acquire LivaNova (NSDQ:LIVN) for its neuromodulation business. A source told financial intelligence company Reorg last week that someone pitched the idea to Medtronic, which would divest LivaNova’s cardiovascular business and “certain MDT cardiac surgery products.” “Five sector advisors said such a deal would make sense as […]
Medtronic names its first chief inclusion and diversity officer
Medtronic (NYSE:MDT) announced today that it hired Dr. Sally Saba to become the company’s first chief inclusion & diversity officer. The Fridley, Minn.–based medtech giant said the hire underscores its focus on making an investment on inclusion and diversity as a business priority. Last month, Medtronic won the 2020 Catalyst Award in recognition of the company’s […]
Black History Month: This inventor laid the foundation for today’s pacemakers
Most people in medtech know of Earl Bakken’s contributions to pacemakers and cardiac rhythm devices, but without Otis Boykin, pacemakers wouldn’t have the pacing technology they do today. Boykin, an African-American inventor and engineer, had a special interest in resistors. His mother died from heart failure when he was 1 year old. Thirty-one years later, […]
Medtronic beats The Street’s Q3 earnings projections, misses on sales
Medtronic (NYSE:MDT) shares dipped today on third-quarter results that beat Wall Street’s earnings forecast but failed to top the consensus sales projections. The Fridley, Minn.–based medtech giant posted profits of $1.9 billion, or $1.42 per share, on sales of $7.7 billion for the three months ended Jan. 24, 2020, for a 5.1% bottom-line gain on sales […]
Medtronic seeks to boost surgical robotics play with Digital Surgery acquisition
Medtronic (NYSE:MDT) announced today that it has acquired Digital Surgery (London), a privately-held pioneer in surgical artificial intelligence, data and analytics, and digital education and training. Financial terms of the deal were not disclosed. Medtronic said the purchase will strengthen its robot-assisted surgical platform and its broader portfolio. The medical device giant is making a big play […]
FDA says Medtronic MiniMed insulin pump recall is serious
The U.S. FDA has designated a recall of hundreds of thousands of Medtronic Minimed insulin pumps as Class I — the most serious type of recall. Medtronic (NYSE:MDT) first warned of safety problems with the pumps in November. The recall involves 322,005 pumps — MiniMed 630G (model MMT-1715) and MiniMed 670G (model MMT-1780) — in the […]
Medtronic and its foundation providing $1.2m for coronavirus relief
Medtronic (NYSE:MDT) announced that, through the Medtronic Foundation, it is committing approximately $1.2 million to coronavirus relief efforts around the world. The company said its commitment to helping during the pandemic that is sweeping the globe includes cash contributions from the Medtronic Foundation and product donations from the company itself, according to a news release. Cash […]
Medtronic to test new ways to fine-tune renal denervation
As it continues to seek a renaissance in renal denervation, Medtronic (NYSE:MDT) plans to study how to better fine-tune the technology to treat hypertension. The world’s largest medical device company, run out of Fridley, Minn., announced Feb. 4 that it has started enrollment in a pilot study that will use the company’s Symplicity Spyral renal denervation […]
Abbott wins FDA breakthrough nod for ventricular assist system
Abbott (NYSE:ABT) announced today that it won FDA breakthrough device designation for its in-development fully implantable left ventricular assist system (Filvas). According to a news release, left ventricular assist devices are implanted into the body and powered using an external battery pack or charging port. Abbott’s fully implantable device would require no external components, offering more […]