Medtronic (NYSE:MDT) is under investigation by the federal government for allegedly limiting competition in the ventilator business, the company acknowledged late yesterday. The civil antitrust probe grew out of complaints about device shortages during the coronavirus pandemic, according to a report by the Wall Street Journal. The Journal cited “people familiar with the matter” as saying […]
Newport Medical Instruments
Medtronic responds to NY Times story about failed ventilator contract
Medtronic (NYSE:MDT) is providing additional facts in response to a New York Times report detailing an acquisition by Covidien that allegedly changed the course of a government contract designed to increase ventilator supply, now a major problem amid the coronavirus pandemic. Medtronic bought Covidien for $50 billion in 2015 — years after the events described in the […]
FDA gives Covidien recall highest-risk label
The FDA this week put its highest-risk label on medical device maker Covidien’s (NYSE:COV) recent ventilator battery recall, warning that the device may cause patients harm.
More deals ahead for Covidien? | Wall Street Beat
Covidien grabs Newport Medical Instruments for $108 million
Covidien (NYSE:COV) continued to blaze the acquisitions trail, announcing a definitive agreement to acquire Newport Medical Instruments for $108 million.
Costa Mesa, Calif.-based Newport Medical is a ventilator systems maker with products on the market in the U.S. and more than 115 countries worldwide, according to a press release.
