Medtronic plc reports medical-device developments across cardiovascular, neuroscience, medical surgical, and diabetes-related technologies. Recurring updates include earnings releases, FDA clearances, CE Mark decisions, clinical-study milestones, and commercial launches for products such as Stealth AXiS™, the Affera™ mapping and ablation system, Sphere-9™, Sphere-360™, OmniaSecure™, Hugo™, and insulin delivery platforms.
Company news also covers portfolio actions, including tuck-in acquisitions such as CathWorks and proposed neurovascular acquisitions, as well as the MiniMed IPO and separation-related disclosures. Medtronic’s updates frequently connect product approvals, clinical evidence, and M&A activity to its cardiac devices, surgical robotics, patient monitoring, neurovascular, spine, ENT, and diabetes businesses.
Medtronic (NYSE: MDT) has announced a strategic collaboration with Cosmo Pharmaceuticals and NVIDIA to launch the GI Genius™ AI Access™ platform, designed to enhance AI innovation in healthcare. This platform will incorporate NVIDIA's AI technologies into the GI Genius™ intelligent endoscopy module, the first FDA-cleared AI-assisted colonoscopy tool. The initiative aims to host multiple AI algorithms and facilitate third-party developers in creating real-time AI applications to improve patient outcomes. This announcement coincides with the inaugural GI Genius™ summit hosted in Minneapolis, showcasing advancements in AI for gastrointestinal procedures.
Medtronic announced its commitment to the Science Based Targets initiative (SBTi), joining over 4,600 organizations aiming to achieve carbon neutrality. The SBTi guides companies in setting science-based emissions reduction targets in line with climate science. Medtronic aims for operational carbon neutrality by FY30 and net-zero emissions across all scopes by FY45. This formal commitment emphasizes the company's dedication to reducing its carbon footprint and addressing climate change risks. Targets will be validated by SBTi within 24 months, marking a significant step in Medtronic's sustainability journey.
Medtronic (NYSE:MDT) received CE Mark approval for its Affera Mapping and Ablation System, featuring the Sphere-9 Catheter, on March 15, 2023. This innovative system integrates pulsed field ablation, radiofrequency, and high-density mapping technologies, aimed at treating atrial arrhythmias, including atrial fibrillation (AFib), which affects nearly 60 million globally. The Sphere-9 Catheter allows for efficient procedure times by requiring fewer ablation applications. The product is set to be commercially available in Europe in the first half of 2023, while it remains investigational in the U.S.
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Medtronic celebrates International Women's Day by promoting its Advanced Pathways & Skill Building (MAPS) program, aimed at supporting employee education and career growth. The MAPS initiative offers 100% tuition coverage for eligible employees in the U.S. and Puerto Rico, allowing them to pursue their undergraduate degrees without upfront costs. Anaisa Rojas Brache, a manufacturing operator, shares her journey from the Dominican Republic to a leadership role at Medtronic, enabled by this program. Statistics highlight that while women make up 48% of entry-level hires, only 38% reach first-level management, underscoring the need for initiatives like MAPS to foster gender equity.
Medtronic (NYSE: MDT) announced that its PulseSelect™ Pulsed Field Ablation (PFA) System achieved significant results in the PULSED AF clinical study. With an adverse event rate of just 0.7%, it surpassed safety performance goals, marking one of the lowest rates in FDA investigational trials for atrial fibrillation (AF). The trial, involving 300 patients across 41 sites in nine countries, demonstrated a clinical success rate exceeding 80% for both paroxysmal and persistent AF. The study's results were presented at the American College of Cardiology session and published in Circulation, highlighting the PulseSelect System as a promising new treatment option for AF.
Medtronic plc (NYSE: MDT) announced an 8% increase in its fourth quarter fiscal year 2023 cash dividend, raising it to $0.68 per ordinary share. The dividend, consistent with prior announcements, underscores Medtronic's status as a member of the S&P 500 Dividend Aristocrats, having increased its annual dividend for 45 consecutive years. The payment will occur on April 14, 2023, to shareholders of record as of March 24, 2023. Medtronic, headquartered in Dublin, Ireland, is a leader in healthcare technology, addressing significant health challenges with innovative solutions.
Medtronic emphasizes the gender bias in heart disease detection and treatment, as research shows that less than 40% of clinical studies include women. The company aims to diversify its clinical research to better understand and treat female heart disease patients. Notably, an upcoming study on heart valve replacement will primarily enroll women, aiming to correct historical data disparities. Experts assert that tailored approaches can improve diagnosis and care for women, addressing the differences in symptoms and physiology compared to men. Medtronic's initiative reflects an important move towards inclusive healthcare.
Medtronic plc (NYSE: MDT) will participate in the 43rd annual Cowen Healthcare Conference on March 6, 2023. The session will feature Karen Parkhill, executive vice president and CFO, who will address questions starting at 10:30 a.m. EST. A live webcast can be accessed on Medtronic's investor relations website, with an archive available later that day. Medtronic, based in Dublin, Ireland, is a global leader in healthcare technology, committed to tackling major health issues through innovation. The company's mission is to alleviate pain and extend life, impacting lives globally.
Medtronic (NYSE:MDT) has announced positive one-year results from the ADAPT study, demonstrating the superiority of its MiniMed™ 780G advanced hybrid closed loop system (AHCL) over conventional insulin injections for adults with type 1 diabetes. Participants using AHCL achieved a 1.4% reduction in HbA1C and a 27.6% increase in Time in Range (TIR). Additionally, findings from the CLVer Trial revealed that youth using automated insulin delivery systems had a TIR of 78% compared to 64% for standard care. These results were presented at the ATTD Conference in Berlin, supporting the shift towards early automated insulin therapy in diabetes management.