Medtronic Inc. (NYSE:MDT) on Monday unwrapped enhancements to Physio-Control Inc., hoping to ignite a spark in its on again/off again defibrillator subsidiary.
At the annual American Heart Association meeting, the company based in Fridley, Minnesota, debuted Lifenet System 5.0, its next-generation Internet-based data network.
Lifenet allows emergency medical teams and hospitals to remotely manage and monitor patients’ defibrillators, including their location, battery life and software updates. The new version features an iPhone application that helps doctors quickly communicate with emergency teams and hospitals, and a way to securely transmit electronic medical records.
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Medtronic also said Physio-Control will partner with AirStrip Technologies, a maker of mobile medical software.
Physio-Control’s performance has been erratic, of late. This past summer, the Food and Drug Administration issued a Class I recall — the agency’s most serious type — because Physio-Control’s LifePak monitor/defibrillators can lose power due to a battery malfunction when they’re not plugged into an electricity source.
Last year, Physio-Control generated revenues of $425 million — a 24 percent gain from the previous 12 months. But Medtronic said first-quarter sales dropped 13 percent to $84 million.
