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Medtronic PLC (MDT.N)

MDT.N on New York Stock Exchange

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26 May 2017
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Latest Key Developments (Source: Significant Developments)

QT Vascular updates on potential transaction with Medtronic
Sunday, 21 May 2017 08:07pm EDT 

May 22 (Reuters) - QT Vascular Ltd :Negotiations in relation to possible transaction(s) involving company's coronary product(s).Possible transaction(s) does not conflict with Medtronic transaction and will be in addition to it.Refers to potential transaction with Medtronic involving disposal of its non-drug coated peripheral asset.  Full Article

Medtronic receives FDA approval for MR-conditional quadripolar cardiac resynchronization therapy-pacemakers
Wednesday, 10 May 2017 11:15am EDT 

May 10 (Reuters) - Medtronic plc ::Medtronic first to receive FDA approval for MR-conditional quadripolar cardiac resynchronization therapy-pacemakers.The quadripolar cardiac resynchronization therapy-pacemakers are expected to be available commercially in United States in early summer 2017.  Full Article

FDA designates Medtronic worldwide voluntary field action on hvad(tm) system controllers
Tuesday, 18 Apr 2017 04:31pm EDT 

April 18 (Reuters) - Medtronic Plc ::FDA designates Medtronic worldwide voluntary field action on hvad(tm) system controllers and dc adapters as class i recall.Medtronic - FDA has classified co's recently initiated voluntary field action related to its hvad system controllers and dc adapters as a class i recall.Medtronic plc - with introduction of updated controller, has begun to remove current hvad controllers in select geographies.Medtronic plc- Medtronic also has begun to remove related adapters for hvad controllers.  Full Article

Medtronic to divest part of its unit to Cardinal Health for $6.1 bln
Tuesday, 18 Apr 2017 06:55am EDT 

April 18 (Reuters) - Medtronic Plc ::Medtronic signs definitive agreement to divest a portion of its patient monitoring & recovery division to Cardinal Health for $6.1 billion.Medtronic Plc - transaction is expected to result in an immediate positive impact to medtronic's comparable, constant currency revenue growth rate.Medtronic Plc - deal expected to result in modest dilution on a net basis to co's FY 2018 non-gaap earnings per share in range of about $0.12 to $0.18.Medtronic Plc - deal to result in immediate positive impact to co's non-gaap comparable, constant currency operating margin of about 50 basis points.Medtronic Plc - intends to allocate $1 billion of after-tax proceeds for incremental share repurchases in FY18.Medtronic Plc - transaction also will include 17 dedicated manufacturing facilities.Medtronic - among product lines included in deal are co's dental/animal health, chart paper, wound care, incontinence, electrodes, sharpsafety offerings.Medtronic Plc - Medtronic will retain its respiratory & monitoring solutions business as well as its renal care solutions business.Medtronic - among product lines included in deal are co's thermometry, perinatal protection, blood collection, compression, enteral feeding offerings.  Full Article

Cardinal Health to acquire patient product portfolio from Medtronic for $6.1 bln
Tuesday, 18 Apr 2017 06:55am EDT 

April 18 (Reuters) - Cardinal Health Inc :Cardinal Health to acquire leading patient product portfolio from Medtronic for $6.1 billion in cash.Cardinal Health Inc - purchase price does not include cash tax benefits of at least $100 million.Cardinal Health Inc - acquisition is expected to be financed with a combination of $4.5 billion in new senior unsecured notes and existing cash.Cardinal Health Inc - purchase price for deal does not include cash tax benefits of at least $100 million.Says by end of fiscal 2020, company assumes synergies will exceed $150 million annually.Cardinal Health - expects acquisition to be accretive to non-GAAP earnings per share from continuing operations by more than $0.21 per share in fiscal 2018.Cardinal Health plans to issue long-term debt to finance transaction.Cardinal Health Inc - company expects acquisition to be accretive to non-GAAP diluted earnings per share by more than $0.55 per share in fiscal 2019.Goldman Sachs Bank USA and Goldman Sachs Lending Partners Llc to provide a $4.5 billion unsecured bridge loan.Cardinal Health - once deal is complete, patient care, deep vein thrombosis & nutritional insufficiency units to become part of Cardinal Health's medical unit.  Full Article

Medtronic syncs Garmin activity tracker data directly into remote patient monitoring mobile platform
Thursday, 13 Apr 2017 09:00am EDT 

Medtronic Plc :Medtronic- Co,Garmin announce integration of Garmin wearable device data into Medtronic Care Management Services' remote patient monitoring platform.  Full Article

Medtronic announces worldwide recall of its strataMR adjustable valves and shunts
Thursday, 6 Apr 2017 04:30pm EDT 

Medtronic Plc - : Medtronic announces voluntary worldwide recall of its stratamr(tm) adjustable valves and shunts . As of initiation of recall, 2,622 strataMR valves and shunts potentially affected by this recall had been distributed worldwide . Medtronic initiated recall due to an increase in product complaint rate . Affected strataMR valves and shunts were manufactured from October 27, 2015 to November 11, 2016 . Recall only applies to strataMR adjustable valves and shunts and does not apply to strata(tm) II or strata(tm) NSC products . As of April 1, 2017, product complaint rate related to this issue was 2.75 percent of total units distributed . U.S. Food and drug administration (FDA) and other regulatory bodies also have been notified of recall .There has been one reported patient death, but cause of death has not been confirmed to be related to the issue.  Full Article

Medtronic announces worldwide voluntary field corrective action for Newport HT70 and Newport HT70 plus ventilators
Wednesday, 5 Apr 2017 08:00am EDT 

Medtronic Plc : Medtronic announces worldwide voluntary field corrective action for Newport HT70 and Newport HT70 plus ventilators . Medtronic - notifying customers worldwide of a voluntary field corrective action for all its Newport HT70 and Newport HT70 plus ventilators manufactured since 2010 . Medtronic - voluntary field corrective action conducted following reports ventilator may reset spontaneously during normal operation, without accompanying alarm . Medtronic - since Aug 2012, and of more than 14,000 ventilators in use, Medtronic has received 12 reports of reset without an accompanying alarm .Medtronic Plc says no patient injury or impairment has been reported.  Full Article

United Therapeutics announces regulatory delays for Remosynch Implantable Pump
Monday, 3 Apr 2017 06:00am EDT 

United Therapeutics Corp : United Therapeutics-regulatory delays will result in postponement of planned U.S. launch of remosynch implantable system for remodulin until 2018 .United therapeutics - in order to launch remosynch in U.S, medtronic and co have been pursuing parallel regulatory filings relating to device and drug.  Full Article

Medtronic receives FDA approval for corevalve evolut pro transcatheter valve with advanced sealing
Wednesday, 22 Mar 2017 09:00am EDT 

Medtronic Plc : Medtronic receives fda approval for corevalve(tm) evolut(tm) pro transcatheter valve with advanced sealing .Medtronic plc - 23 mm, 26 mm and 29 mm sizes of evolut pro system are available for use in united states.  Full Article

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Medtronic's focus on surgical products fuels profit beat

Medtronic Plc 's fourth-quarter profit topped analysts' estimates as the world's largest standalone medical device maker saw increased demand across almost all of its businesses, including its minimally invasive therapies.