Key Developments: Medtronic Inc (MDT.N)

MDT.N on New York Stock Exchange

19 Sep 2014
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Latest Key Developments (Source: Significant Developments)

Integra LifeSciences Holdings Corp to acquire Medtronic 's MicroFrance and Xomed Manual ENT and Laparoscopy Instrumentation Lines
Wednesday, 17 Sep 2014 06:00am EDT 

Integra LifeSciences Holdings Corp and Medtronic Inc:Says an agreement in which Integra will acquire Medtronic's MicroFrance and Xomed manual ENT and laparoscopy instrumentation lines for about $60 mln in cash.Integra expects the transaction to close in the Q4 2014.The transition and integration is expected to be completed by the H2 2015.  Full Article

Medtronic Inc's NC Euphora Coronary Balloon receives FDA clearance
Thursday, 11 Sep 2014 08:01am EDT 

Medtronic Inc:Says U.S. Food and Drug Administration (FDA) 510(k) clearance and launch of NC Euphora Noncompliant Balloon Dilatation Catheter.Says new device will be featured for first time in the United States at the Medtronic booth at the upcoming Transcatheter Cardiovascular Therapeutics (TCT) meeting in Wash., DC from Sept. 13-17.SaysFollowing drug-eluting stent implantation to reopen a narrowed artery, a noncompliant balloon is inflated with high pressure to ensure that stent is fully apposed in order to facilitate transfer of the drug to the artery wall.Says Stent under-expansion has been defined as a major risk factor for both artery re-narrowing, or restenosis, and the potential formation of blood clots, known as stent thrombosis.Says Postdilatation with noncompliant balloons has been recommended to overcome these complications and provide optimal stent expansion after stent placement.  Full Article

Medtronic Inc announces first implants in largest-ever, global trial of cardiac resynchronization therapy
Wednesday, 27 Aug 2014 10:00am EDT 

Medtronic Inc:Says first implants in clinical trial that will compare patient and healthcare system outcomes including patient mortality and hospitalizations in heart failure patients who have cardiac resynchronization therapy (CRT) devices with AdaptivCRT feature enabled versus patients receiving standard CRT.AdaptResponse trial will assess superiority of AdaptivCRT algorithm, which preserves normal heart rhythms and automatically adjusts to patients' needs to customize therapy it is expected to be trial of CRT to date, enrolling about 3,000 patients worldwide.Primary endpoint of AdaptResponse trial is combination of all-cause mortality and the rate of medical intervention for worsening heart failure (decompensation).Trial also will examine incidence of atrial fibrillation (AF) in enrolled patients, other secondary endpoints will assess patient quality of life measures as well as cost-effectiveness of CRT devices with the AdaptivCRT feature relative to standard CRT.Patients will receive CRT-pacemaker or CRT-defibrillator equipped with the AdaptivCRT algorithm, and will be randomized 1:1 to either treatment (aCRT ON) or control (aCRT OFF) groups.Patients will be followed at three and six months after randomization, and then every six months until trial closure.  Full Article

Medtronic acquires NGC Medical
Tuesday, 26 Aug 2014 11:05pm EDT 

Medtronic Inc:Medtronic acquires NGC Medical to Strengthen Its Integrated Health Solutions Portfolio.Completes acquisition of NGC Medical S.p.A. (NGC), privately-held Italian company, in transaction that values NGC at $350 mln.Medtronic held 30 pct ownership stake in company prior to completion of the acquisition.NGC will serve as Managed Services arm for Medtronic's Hospital Solutions business and represents another example of Medtronic's continuing effort to lead the transformation to value-based healthcare by leveraging the economic value of its products and services.The unit will operate as separate entity, continuing its long-standing commitment of being a brand-agnostic partner to hospitals.Medtronic expects net impact from this transaction to be neutral to fiscal year 2015 earnings and for this transaction to be consistent with the company's disciplined focus on long-term returns.  Full Article

Medtronic Inc's Viva Cardiac Resynchronization Therapy-Pacemaker Available in U.S; receives FDA approval
Monday, 25 Aug 2014 10:00am EDT 

Medtronic Inc:Says U.S. Food and Drug Administration (FDA) approval of newest cardiac resynchronization therapy-pacemaker, Viva CRT-P, for indicated patients with heart failure or atrioventricular (AV) block.Viva CRT-P includes Medtronic-exclusive AdaptivCRT algorithm, which preserves normal heart rhythms and automatically adjusts to patient's needs, creating a customized therapy for each patient.It is the only algorithm demonstrated to improve heart failure patients' response to therapy and reduce risk of atrial fibrillation, or AF.Recent data also show the AdaptivCRT algorithm reduced 30-day hospital readmissions for heart failure by 47 percent and AF-related healthcare utilizations by 55 percent - important benefits since heart failure is costly problem and represents a cause of 30-day hospital readmissions.  Full Article

Medtronic Inc announces cash dividend for second quarter of fiscal year 2015
Thursday, 21 Aug 2014 04:15pm EDT 

Medtronic Inc:Approves cash dividend of $0.305 per share of company's common stock.Quarterly dividend represents nine percent increase over prior year.Payable on Oct. 24 to shareholders of record on Oct. 03.  Full Article

Medtronic Inc reaffirms FY 2015 outlook
Tuesday, 19 Aug 2014 07:30am EDT 

Medtronic Inc:Continues to expect FY 2015 revenue growth in the range of 3-5 pct on a constant currency basis.Expects FY 2015 diluted non-GAAP EPS in the range of $4.00 to $4.10.Non-GAAP EPS implies annual diluted non-GAAP EPS growth in the range of 6-9 pct after adjusting for certain items.Reported revenue of $17.005 bln in FY 2014.FY 2015 revenue of $17.712 bln, EPS of $4.04 - Thomson Reuters I/B/E/S.  Full Article

Medtronic Inc receives FDA approval for PRESTIGE LP cervical disc system
Monday, 28 Jul 2014 12:44pm EDT 

Medtronic Inc:Receives approval from the U.S. Food and Drug Administration (FDA) to market PRESTIGE LP Cervical Disc System for treatment of single-level cervical disc disease (radiculopathy and/or myelopathy).  Full Article

Medtronic Inc completes acquisition of Visualase, Inc.
Monday, 28 Jul 2014 08:30am EDT 

Medtronic Inc:Completed the acquisition of Visualase, Inc., privately held company based in Houston.Acquisition of Visualase is another example of Medtronic's ongoing investment in technology and commitment to innovation across entire surgical care continuum.Medtronic had previously invested in Visualase and held an ownership stake in company prior to completion of acquisition.Net of this ownership stake, initial payment is about $64 mln.  Full Article

Medtronic, Inc announces people with type 2 Diabetes achieve superior outcomes with insulin pumps vs. multiple daily injections
Wednesday, 2 Jul 2014 07:15pm EDT 

Medtronic, Inc:Says that the results of the OpT2mise trial, which showed that MiniMed insulin pumps safely achieve better glucose control for people with insulin-requiring type 2 diabetes than multiple daily injections.Says while the benefits of insulin pump therapy for people with type 1 diabetes are well proven, this is the largest global study to evaluate the comparative efficacy of insulin pump therapy versus multiple daily insulin injections in people with type 2 diabetes with poor glycemic control.Says In the OpT2mise trial, those using insulin pumps achieved a mean A1C (average blood glucose) reduction of 1.1 percent compared to only a 0.4 percent reduction by those using multiple daily injections.This improvement in glucose control was achieved without any episodes of severe hypoglycemia.In addition, those in the insulin pump group lowered the total daily dose of insulin by more than 20 percent.There was no difference in weight gain between the two groups.Reducing A1C is critical for people with diabetes because even small percent drops aid significantly in preventing complications such as eye disease, kidney disease, nerve damage and heart attacks.  Full Article

UPDATE 2-Medtronic CEO says Covidien deal good for U.S. economy

Aug 19 - Medtronic Inc Chief Executive Omar Ishrak defended his company's plan to acquire Dublin-based Covidien Plc in a so-called inversion deal, saying the medical device maker will be able to create more U.S. jobs while still paying substantial taxes once the transaction closes.

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