Medtronic Inc. (NYSE:MDT) is a company in transition as it seeks higher growth in China and new therapies like transcatheter heart valves while trying to "protect and optimize" its core cardiac rhythm disease management (CRDM) business. On Tuesday, the Fridley, Minnesota, medical device maker said its profits sank 34 percent in the fiscal second quarter from a year ago. So it lowered its fiscal 2011 profit and sales forecasts.
On Wall Street, you're only as good as your next acquisition. Try telling that to Medtronic Inc. (NYSE:MDT). Over the past two years, the Fridley, Minnesota, medical device maker purchased nine companies: $700 million for CoreValve Inc., $370 million for ATS Medical Inc., $123 million for Osteotech Inc. -- all small, "tuck-in" deals. The time is ripe for a big acquisition.
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
In a recent interview, Hawkins said Medtronic will continue to go from a a stent and pump company to one that treats heart failure, diabetes and degenerative disc disease. "The real shift is thinking about ourselves in a bigger way, much more than just a device company," he said.
First the good news: the state's exports in manufactured goods during the second quarter jumped 19 percent to $4.3 billion compared to the same period a year ago. Now the bad: optic and medical products fell 10 percent to $723 million -- the only major product group in Minnesota to register a decline. Worse yet, sales of optic and medical products for the entire country rose 15 percent.
Fridley, Minnesota-based medical device company Medtronic Inc. -- the world's largest heart-device maker -- will be "opportunistic" in seeking acquisitions of as much as $1 billion to restore sales growth, Chairman and Chief Executive Officer Bill Hawkins said.
Medtronic's earnings are bad news for the medical device industry and may indicate the global economy is in worse shape than people think.
At the Abarca Forward conference earlier this year, George Van Antwerp, managing director at Deloitte, discussed how social determinants of health and a personalized member experience can improve medication adherence and health outcomes.
Is the way to a man’s (or woman’s) heart through the spinal cord? That’s what Medtronic Inc. (NYSE: MDT) hopes to discover. The medical device giant, based in Fridley, Minnesota, said Thursday it launched a global, randomized clinical trial to see if spinal cord stimulation (SCS) can slow the progression of heart failure (HF). The […]
It’s been a while since we could get excited about implantable cardioverter defibrillators (ICDs), the watch-sized devices that shock an irregular heart back into rhythm. The device that helped launched the dominance of Minnesota’s medical device industry barely registers a yawn today. ICDs are what we call a “mature” industry, growing around 4 to 6 […]
Michael DeMane is finally a CEO. The former chief operating officer at Medtronic Inc. (NYSE: MDT), once thought to be a top candidate to lead the world’s largest medical device firm, recently joined Lanx Inc. as chairman and CEO. The company, based in Broomfield, Colo., makes devices for spinal surgeries. Investors include Chicago Growth Partners, […]
If the United States truly wants to boost the economy and narrow its ginormous trade deficit, then medical technology would seem like a good place to start. Minnesota’s bread-and-butter industry generated a $5.4 billion trade surplus last year, one of the few American industries to do so. Which is why Obama administration officials visited Medtronic […]
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Things seem to be solid at Medtronic Inc. The medical device giant said third quarter profits jumped nearly 20 percent, prompting it to raise its 2010 profit guidance. Sales of its core pacemakers and implantable cardioverter defibrillators grew 6 percent. Neuromodulation, diabetes and surgical technologies also posted healthy gains. Yet… Two problems continue to nag […]
Medtronic‘s chief executive has been elected a fellow by the American Institute of Medical and Biological Engineering for outstanding achievement in the field. Bill Hawkins, also Medtronic’s chairman, attended a formal induction ceremony at the Institute’s annual meeting earlier this week in Washington, D.C., according to a statement from Medtronic. The Institute’s elected fellows consist […]
Profits jumped 19 percent to $831 million, or 75 cents a share, from $698 million, or 62 cents in third quarter 2009. For nine months, profits rose 9 percent to $2.145 billion.
From MRI-friendly pacemakers to artificial heart valves, Medtronic is poised to release a dizzying array of new products over the next two years.
The medical device industry's earnings could take a hit from a proposed federal tax included in health reform bills, but the effects would be partially offset by increased sales resulting from expanded insurance coverage.