Latest Headlines

Latest Headlines

Medtronic looks beyond Type 1 with a diabetes reorg

Medtronic's fastest growing business is in diabetes, which gained 10% to $430 million in the most recent quarter over a year ago. Now the medical device giant is looking to expand beyond its dominance in Type 1 diabetes that is based on the success of its insulin pump MiniMed. During an earnings call, Medtronic disclosed that it reorganized its diabetes group last quarter.

Medtronic partners with DaVita, rolls out CRT meta-analysis data

Dialysis provider DaVita HealthCare Partners has partnered with Medtronic for a pilot program to study cardiac arrhythmias in end-stage renal disease patients receiving dialysis. It will use the tiny implantable cardiac monitor, Linq, which Medtronic launched early this year.

Medtronic borrows $16B to cover rising costs of Covidien deal

Medtronic's $43 billion acquisition of Covidien has become increasingly expensive, requiring the medical device giant to borrow more than $16 billion, the company said in a massive regulatory filing.

Medtronic makes concessions to European regulator in bid to close Covidien deal

Medtronic submitted concessions to the European Union regulatory commission last Friday. The antitrust authority will decide by Nov. 28 whether to clear the deal.

Covidien's 980 Ventilator Systems potentially deadly, recalled by FDA

The FDA has hit Covidien's Puritan Bennett 980 Ventilator Systems with its most severe Class I recall, meaning there is a reasonable probability that use of the product will cause serious adverse health consequences or death.

Covidien earnings up 39%, R&D spending at all-time high amid Medtronic merger prep

Covidien CEO José Almeida said during the company's fiscal Q4 earnings call that the company's looming megamerger with Medtronic will give the combined entity "a voice at the table" due to its volume in some of the most purchased devices in the world.

Covidien gets FDA nod for directional artherectomy system for peripheral artery disease

Covidien won FDA 510(k) clearance for its directional atherectomy devices for peripheral artery disease, a notch in the company's belt as it anticipates the close of its pending $43 billion deal with Medtronic.

Covidien sells drug-coated balloon for $30M to appease regulators as it barrels toward Medtronic merger

Another hurdle toward the long-anticipated closure of Covidien's $43 billion merger with Medtronic was crossed today. Covidien announced that it is selling its clinical-stage Stellarex drug-coated angioplasty balloon for peripheral artery disease to Spectranetics for $30 million.

UPDATED: Medtronic discloses new corporate structure upon Covidien deal close

Covidien will be managed as a fourth group within Medtronic's corporate structure. The acquired company will remain intact, with the exception of its peripheral and neurovascular businesses. Covidien's peripheral business will join Medtronic's aortic and peripheral unit within Medtronic's cardiac and vascular group while the neurovascular business will become part of the restorative therapies group.

Rating agencies likely to cut Medtronic's credit rating due to looming merger with Covidien

Moody's Investors Service and Standard & Poor's Ratings Services are expected to downgrade Medtronic's debt due to the company's impending merger with Covidien. Under the new rules imposed by the Treasury Department, Medtronic will have to borrow $16.3 billion to fund the $43 billion transaction, as opposed to the initially planned $2.8 billion.