Medtronic Archives - Page 12 of 59 - Medical Design Sourcing

Medtronic faces a wait-and-see attitude from analysts

Medtronic (NYSE: MDT) + stock continues to decline today — a day after it underwhelmed The Street with its growth projection for its new fiscal year.

MDT shares were down more than 2% to $81.58 apiece by midday today — a day after the stock fell another 2% in value. Meanwhile, MassDevice’s MedTech 100 Index — as well as the S&P 500 — were up on hopes that President Joe Biden and House Speaker Kevin McCarthy are close to striking a debt ceiling deal.

For the fiscal year ending in April 2024, Medtronic expects 4–4.5% revenue growth. One analyst described the guidance as “worse (more conservative?) than we expected.” Company officials told analysts during yesterday’s earnings call that they wanted to be prudent. They said they’re seeking durable revenue growth.

Even as it divests some businesses and engages in significant cost reductions including layoffs, Medtronic is also boosting R&D sp…

The top cardiac care innovation news at Heart Rhythm 2023

The future of cardiac care was on display at the Heart Rhythm Society’s 2023 annual meeting.

Medical device companies showcased groundbreaking technologies at Heart Rhythm 2023, May 19-21 in New Orleans. The innovations presented during the event offer new avenues for diagnosis, treatment, and monitoring of cardiovascular conditions, providing hope for patients worldwide.

Boston Scientific, Abbott, Medtronic, Philips, and iRhythm unveiled advances that have the potential to revolutionize the field of cardiology and improve patient outcomes.

The cardiology devices showcased at the Heart Rhythm 2023 hold promise for the future of cardiovascular care. As these innovations continue to advance, they have the potential to significantly improve the lives of patients worldwide. Stay tuned as we delve deeper into the details of these groundbreaking technologies and their impact on the field of cardiology.

Get the full story on o…

Analysts still high on Insulet despite Medtronic’s EOFlow buy, stock market reaction

The Insulet Omnipod 5 (left) and the EOFlow EOPatch (right), just acquired by Medtronic.

Despite a negative reaction from investors following a major buy in the insulin delivery space, analysts still back Insulet (Nasdaq:PODD) stock to perform.

Shares of PODD fell throughout today after Medtronic (NYSE:MDT) announced a $738 million acquisition of EOFlow. Korea-based EOFlow develops the EOPatch, a tubless, wearable and fully disposable insulin delivery device. Insulet represents a market leader in that space with its own Omnipod patch pump platform. Omnipod 5 became the first available tubeless, wearable, automated insulin delivery system after the FDA cleared it in January 2022.

By mid-afternoon, shares of PODD fell 7.3% to $272.24 apiece. Tandem Diabetes Care, another competitor in the space, saw its shares go down 5.5% to $26.62 apiece..

In spite of the negative reaction by the markets, BTIG analysts Marie Thibault and Sam Eiber expect Insulet to maint…

The top cardiac care innovation news at Heart Rhythm 2023

The future of cardiac care was on display at the Heart Rhythm Society’s 2023 annual meeting.

Medical device companies showcased groundbreaking technologies at Heart Rhythm 2023, May 19-21 in New Orleans. The innovations presented during the event offer new avenues for diagnosis, treatment, and monitoring of cardiovascular conditions, providing hope for patients worldwide.

Boston Scientific, Abbott, Medtronic, Philips, and iRhythm unveiled advances that have the potential to revolutionize the field of cardiology and improve patient outcomes.

The cardiology devices showcased at the Heart Rhythm 2023 hold promise for the future of cardiovascular care. As these innovations continue to advance, they have the potential to significantly improve the lives of patients worldwide. Stay tuned as we delve deeper into the details of these groundbreaking technologies and their impact on the field of cardiology.

Here’s a roundup of Associate Editor Se…

Medtronic to acquire wearable insulin patch maker EOFlow for $738M

[Image from the EOFlow website]Medtronic (NYSE:MDT) announced today that it entered into a set of agreements to acquire insulin delivery technology developer EOFlow.

Seongnam, South Korea-based EOFlow develops the EOPatch, a tubless, wearable and fully disposable insulin delivery device.

EOFlow already launched its EOPatch insulin delivery system in Korea and Europe. The company submitted the insulin delivery device for U.S. FDA clearance in January. EOFlow already has FDA breakthrough device designation on a wearable, integrated artificial pancreas. The disposable device features a glucose monitoring sensor, insulin pump and automated insulin delivery algorithm.

Medtronic plans to add EOFlow’s offerings to its existing diabetes portfolio. That includes its Meal Detection Technology algorithm and next-generation continuous glucose monitor (CGM). The medtech giant just one month ago received FDA approval for its own insulin delivery technology, the Min…

Medtronic says its annual revenue could grow up to 4.5%

Medtronic (NYSE: MDT) + today reported fourth-quarter results that beat the consensus forecast on Wall Street amid accelerating revenue growth.

The world’s largest medical device company also announced an acquisition: roughly $738 million for South Korea–based EOFlow and its EOFlow insulin delivery patch that a user can control using their smartphone.

Medtronic forecast that it will grow revenue up to 4.5% in the new fiscal year — a turnaround from the 1.4% revenue decline it saw in its fiscal year 2022–23. However, its earnings forecast for the new fiscal year appeared to come up a bit short of The Street’s expectations.

The initial earnings release and presentation included no additional details about the layoffs taking place amid significant cost reductions as the company seeks to refocus and drive growth.

Investors appeared to be initially positive about the results. MDT shares were up sli…

Medtronic reports positive Harmony transcatheter pulmonary valve data

The Harmony transcatheter pulmonary valve. [Image courtesy of Medtronic]Medtronic (NYSE:MDT) announced positive two-year results for a study of its Harmony transcatheter pulmonary valve (TPV) system.

Harmony treats severe pulmonary regurgitation (PR) in the native or surgically repaired right ventricular outflow tract (RVOT). The Medtronic analysis demonstrates strong clinical and hemodynamic outcomes for patients with a congenital heart defect of the RVOT. The current standard of care is either open-heart surgery or other interventions early in life to address malformations. Harmony TVP provides a minimally invasive treatment alternative.

Medtronic presented results at the Society for Cardiovascular Angiography & Interventions (SCAI) 2023 Scientific Sessions.

“Sharing these longer-term outcomes for the Harmony transcatheter valve is an important milestone to help offer more streamlined treatment options for patients living with congenital heart disease…

Study supports extravascular ICD from Medtronic

The Aurora EV-ICD with the lead. [Image courtesy of Medtronic]Medtronic (NYSE:MDT) announced positive long-term follow-up results for its investigational implantable cardioverter defibrillator (ICD).

The medtech giant designed its extravascular (EV) ICD system to treat dangerously fast heart rhythms that can lead to sudden cardiac arrest. Medtronic’s EV ICD pivotal study followed patients through an average of 17.1 months. The company presented data as late-breaking science at Heart Rhythm Society’s (HRS) 2023 meeting in New Orleans.

Medtronic’s first-of-its-kind implantable defibrillator aims to avoid certain risks of traditional, transvenous ICDs. It designed the system with a lead placed outside the heart and veins, under the sternum. Using a minimally invasive approach, the implant goes below the left armpit in the left mid-axillary region.

The ICD offers anti-tachycardia pacing (ATP) and pause prevention pacing. The device is similar …

Medtronic reports positive study results for PulseSelect pulsed-field ablation system

The PulseSelect for pulsed-field ablation. [Image courtesy of MedtronicMedtronic (NYSE:MDT) today announced positive findings from a secondary analysis of the PULSED AF study for its pulsed-field ablation technology.

The analysis demonstrated positive results for the PulseSelect system, including atrial arrhythmia (AA) burden reduction. This correlated to both improved quality of life and decreased healthcare utilization.

Medtronic said in a news release that 87% of paroxysmal AFib and 82% of persistent AFib patients experienced less than 10% AA burden. The company presented results as late-breaking trial science at Heart Rhythm 2023.

The Pulsed AF trial evaluates the safety and effectiveness of PFA technology for AFib ablation. PFA uses pulsed electric fields to efficiently isolate pulmonary veins to treat paroxysmal or persistent AF. Medtronic completed enrollment in November 2021. Read more about what pulsed-field ablation is he…

Medtronic and Johnson & Johnson reportedly consider Shockwave acquisition

The Shockwave Intravascular Lithotripsy (IVL) System uses pressure waves to break up calcification restricting blood flow. [Image from Shockwave Medical]Medtronic (NYSE:MDT) and Johnson & Johnson (NYSE:JNJ) are interested in acquiring Shockwave Medical (Nasdaq:SWAV), according to a StreetInsider.com report citing an unnamed source.

The financial news website did not say how the source knows the information or why they are not being identified by name.

“We don’t comment on rumors or speculation,” Medtronic spokesperson Erika Winkels said today.

Johnson & Johnson and Shockwave have not yet responded to requests for comment, but we’ll update this post if they do.

Bloomberg last month said that Boston Scientific (NYSE:BSX) was also eying Shockwave. The Bloomberg report cited “people with knowledge of the matter” — who asked not to be named due to the privacy of the talks.

There’s no doubt Shockwave is hot.…

Telepresence technology is accelerating medical device development while broadening and deepening relationships between medtech companies and their customers

An expanding customer base, rapidly advancing technology and intense cost pressures are driving medtech companies to use surgical telepresence to cost effectively meet customer needs, enhance customer relationships, develop new products faster and empower healthcare providers to raise the standard of care.

By Daniel Hawkins, Avail Medsystems

The Avail Medsystems console brings remote experts into the operating room virtually. [Photo courtesy of Avail Medsystems]

The medical technology medtech industry is relentlessly challenged to efficiently maintain growth, fund innovation, and provide an appropriate return to shareholders. Over the last decade, this has become increasingly difficult due to myriad challenges resulting from rapid expansion in the number of sites of service, declining reimbursement, relentless pricing pressures and increasing technical complexity across the industry.

Throughout my 30-yea…

How device manufacturers are mitigating high-risk exposure to hospital budgets

Surgical robotics systems are among the most expensive hospital purchases. [Photo via Adobe Stock]

Medical device manufacturers face volatile equipment orders from hospitals in the next couple of years, with some more exposed to capital budget risk than others.

A new report from Moody’s Investors Service identified eight medtech companies with exposure to changes in hospital capital budgets and examined how well they mitigated that risk with recurring or noncapital sales.

This balance is an important consideration for medtech developers of all sizes as hospitals continue to face staffing and budget challenges with no relief in sight. The report also highlights the importance of innovation in overcoming macroeconomic challenges.

“With a potential recession and inflationary pressures driving up hospitals’ cost of labor, utilities and other expenses, medical device original equipmen…