MedTech Dive February 20, 2024
The decision reverses a strategy announced more than a year ago to separate the slower-growth patient monitoring and respiratory interventions businesses.
Medtronic will exit the ventilator market and turn its remaining patient monitoring and respiratory businesses into a new unit, the company said Tuesday, reversing a plan announced more than one year ago to spin off the businesses.
CEO Geoff Martha told investors on an earnings call that shutting down the ventilator business was ultimately in the best interest of the company, and the savings would increase investments in the new unit, particularly in remote patient monitoring.
“The business became increasingly unprofitable throughout the last year. The growth slowed even more, and the dynamics within the segment are changing, moving...
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