Medtronic Lifts Guidance as FDA Clears Robot Instrument and MiniMed Spinoff Advances
Article excerpt
Medtronic is pressing ahead on two fronts at once: widening the toolkit for its Hugo robotic surgery platform and carving out its diabetes unit, even as the share price struggles to reflect the operational momentum. The stock changed hands at EUR 78.62 on the day, a modest gain of 0.2 percent, while the seven-day view shows a decline of 2.8 percent as investors weigh the long-term payoff of the restructuring against the execution risk still ahead. On September 16, the US Food and Drug Administration granted clearance for the LigaSure RAS Maryland instrument, designed for use with the Hugo robot-assisted surgery system. The approval brings modern vessel-sealing technology into Medtronic's robotic procedures and broadens its US portfolio of surgical instruments as it plays catch-up in the race for technology-driven operating rooms. Adding proven surgical tools to the robotic platform is seen as a key lever for winning over surgeons. Greater procedural flexibility should let hospitals get more use out of the system, and Medtronic is betting that a wider range of applications will make the platform more efficient to deploy in complex cases. The technological progress is being matched by a sweeping portfolio realignment. Medtronic launched an exchange offer on September 14 to shed at least 80.1 percent of the MiniMed Group. Shareholders can swap Medtronic common stock into...
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Medtronic agreed a strategic investment in Pi-Cardia worth up to USD 80 million, covering the expected worldwide exclusive distribution of the ShortCut device in 2027.
