Medtronic NewCo

History

2022: Building a company from Medtronic assets

In late October 2022, Medtronic announced the spin-off of a product business to monitor patient conditions and respiratory interventions to the new company. It was named Medtronic NewCo.

According to Medtronic Board Chairman and CEO Jeff Marta, the separation of the two lines from the medical and surgical services portfolio will enable the company to streamline its operations and accelerate revenue growth, allowing it to focus on investing in priority areas to accelerate long-term growth.

Medtronic separates patient monitor business

Shares of the company rose 1.8% in preliminary trading after announcing the split on Oct. 24, 2022. Independently, NewCo will be a leading connected care company with a compelling leadership position, attractive margins and the potential to accelerate growth with increased investment and targeted capital allocation, Marta said. According to Marta, the company will continue to replenish its portfolio, but will also have moderately faster organic revenue growth, increased weighted average market growth rates and a strong balance sheet.

Patient TECont to be managed by NewCo include Nellcor pulse oximetry, Microstream capnography, BIS brain monitoring, INVOS perfusion monitoring, and HealthCast connected care solutions. Respiratory intervention technology is Puritan Bennett ventilators, Shiley's airway portfolio, McGrath MAC videolaryngoscopy, DAR respiratory systems, and the software solutions of PAV +, NIV +, and IE Sync for ventilation for workflow organization and medical care.

NewCo will expand commercial coverage in major strategic markets and leverage connected care solutions to increase share in existing customer networks around the world.^[1]

Notes

Шаблон:Remarks