Welcome to our dedicated page for Medtronic news (Ticker: MDT), a resource for investors and traders seeking the latest updates and insights on Medtronic stock.
Medtronic plc (NYSE: MDT) is a Galway, Ireland-based healthcare technology company whose news flow reflects its broad activity in medical devices, diabetes technology, surgical robotics, and cardiovascular therapies. Company announcements frequently highlight regulatory milestones, clinical evidence, product launches, capital markets activity, and corporate governance developments that matter to investors and healthcare professionals following MDT stock.
Recent news has featured U.S. Food and Drug Administration clearances for key technologies, including the Hugo robotic-assisted surgery (RAS) system for urologic procedures and the MiniMed Go Smart Multiple Daily Injection (MDI) system, which connects the InPen smart insulin pen and the Instinct sensor made by Abbott through the MiniMed Go app. Medtronic has also reported on the broad U.S. commercial launch of the MiniMed 780G automated insulin delivery system integrated with the Instinct sensor, expanding its diabetes technology ecosystem.
Investors can also track Medtronic’s cardiovascular and hypertension-related developments, such as the final National Coverage Determination from the U.S. Centers for Medicare & Medicaid Services for the Symplicity Spyral renal denervation system, and updates on growth drivers like pulsed field ablation and other cardiovascular therapies discussed in earnings releases. Financial news includes quarterly earnings reports, guidance updates, dividend declarations, and details of senior notes offerings and redemptions.
This MDT news page aggregates coverage of topics including diabetes business developments (such as the planned MiniMed IPO registration), conference presentations, leadership and board changes, and major clinical or reimbursement milestones. Readers interested in Medtronic’s role in chronic disease management, minimally invasive surgery, and global healthcare technology can use this page to follow ongoing announcements and review the company’s evolving strategic priorities over time.
Medtronic plc (NYSE:MDT) announced a donation of nearly $1 million in personal protective equipment (PPE) to the International Medical Corps to aid COVID-19 relief efforts in the U.S. and Puerto Rico. The donation includes over 1.1 million surgical masks and 408,000 KN95 respirators, targeting hospitals in COVID-19 hotspots. This support highlights Medtronic's commitment to frontline health workers and underserved communities during the pandemic, as recognized by various officials from both Medtronic and International Medical Corps.
Medtronic plc (NYSE:MDT) has launched the Adaptix™ Interbody System, the first navigated titanium implant featuring Titan nanoLOCK™ Surface Technology. This technology combines various surface textures to enhance strength and promote bone growth. Adaptix, which received FDA approval in August 2020, addresses surgeons' needs for improved spinal fusion outcomes. The system integrates with Medtronic's navigation platforms, facilitating accurate placement during surgery. The announcement was made at the North American Spine Society annual meeting, marking a significant step in Medtronic's commitment to advancing spine care.
Medtronic plc (NYSE:MDT) announced that Omar Ishrak will retire as Executive Chairman effective December 11, 2020. This marks the conclusion of the company's planned CEO succession. Geoff Martha, the current CEO since April 2020, will succeed Ishrak as Chairman. Ishrak has been with Medtronic since June 2011, serving as CEO until April 2020. Both leaders expressed confidence in the company's future and ongoing commitment to its mission in medical technology innovation.
Medtronic plc (NYSE:MDT) announced the first patient was implanted in its ELITE study of the InterStim™ Micro system, marking a significant milestone in rechargeable sacral neurostimulation (SNS) research. This is the only study encompassing SNS indications for overactive bladder, urinary urge incontinence, urinary frequency, non-obstructive urinary retention, and fecal incontinence. The study aims to enroll 160 subjects across various regions, providing crucial data on performance and safety over two years. The InterStim Micro is the smallest rechargeable SNS device with a 15-year lifespan and fast charging capabilities.
Medtronic plc (NYSE:MDT) will host its biennial Institutional Investor and Analyst Event virtually on October 14, 2020, from 8:00 a.m. to 2:00 p.m. EDT. The event will feature company leadership presenting strategies for revenue growth, innovation, and shareholder value creation. A live webcast will be available for all interested parties, and a replay will follow within 24 hours. Medtronic is a leader in medical technology, focused on improving healthcare globally.
Medtronic plc (NYSE:MDT) announced FDA approval for its Resolute Onyx™ drug-eluting stent (DES) to offer a one-month dual-antiplatelet therapy (DAPT) for patients at high bleeding risk (HBR). This is the first DES in the U.S. approved for one-month DAPT post-percutaneous coronary intervention (PCI). The indication is crucial as up to 40% of PCI patients are at HBR. The approval is based on the Onyx ONE Clear Study involving 1,500 patients, demonstrating safety and efficacy at one year. Medtronic aims to provide vital data to support treatment options for HBR patients.
Medtronic (NYSE:MDT) announced its planned acquisition of Avenu Medical, enhancing its Peripheral Vascular Access Portfolio. Avenu's innovative Ellipsys® Vascular Access System, designed for minimally invasive creation of arteriovenous (AV) fistulae, aims to improve outcomes for dialysis patients. The acquisition, anticipated to close in October 2020, aligns with Medtronic's strategy to provide less invasive solutions. This move is expected to be immaterial to Medtronic's earnings in the first two years, turning accretive in fiscal year 2023.
Medtronic plc (NYSE:MDT) announced the successful closure of a public offering totaling €6.25 billion in Senior Notes, with multiple maturities from 2023 to 2050. The net proceeds will be utilized to repay existing debt, including €750 million in Floating Rate Senior Notes due in 2021, and for general corporate purposes. Additionally, the company plans to redeem outstanding senior notes of various amounts, totaling approximately $2.6 billion, due from 2022 to 2025. The redemption date for these notes is set for October 29, 2020.
Medtronic (NYSE:MDT) achieved a significant legal victory as the U.S. Patent Trial and Appeal Board (PTAB) upheld its crucial sacral neuromodulation patent, rejecting Axonics' challenge. The decision concerns Medtronic's U.S. Patent No. 9,463,324, which safeguards key technology for implant recharging and temperature control. Medtronic filed suit against Axonics in November 2019, claiming patent infringement. The PTAB's rejection of Axonics' arguments is final and not appealable. Full inter partes review proceedings on six additional patents will commence, with a PTAB decision expected within 12 months.
Medtronic plc (NYSE: MDT) announced the pricing of €6.25 billion in senior notes with varying maturities from 2023 to 2050. The offering includes €1.25 billion of 0.000% notes due 2023 and €1 billion of 1.625% notes due 2050, among others. Proceeds will be utilized to retire existing debt and for general corporate purposes. The offering is expected to close on September 29, 2020. The joint book-running managers include Barclays Bank PLC and Deutsche Bank Aktiengesellschaft.