Medtronic invests $700 million in Cornerstone Robotics to expand surgical portfolio

Medtronic has announced several strategic investments to expand its surgical and cardiovascular portfolios. The company is investing approximately $700 million in Hong Kong-based Cornerstone Robotics. This partnership grants Medtronic the rights to distribute the Sentire surgical system in selected international markets where it has regulatory approval, complementing Medtronic’s existing Hugo robotic-assisted surgery system.

Additionally, Medtronic is investing up to $80 million in Pi-Cardia, an Israeli developer of heart-valve technology. This deal includes a potential buyout option of up to $210 million and positions Medtronic as the exclusive global commercial distributor of Pi-Cardia’s ShortCut device starting in 2027. The ShortCut device is designed for use in complex transcatheter aortic valve replacement (TAVR) procedures.

These moves follow a strong fiscal first quarter for Medtronic, where the company reported adjusted earnings of $1.45 per share and revenue of $9.76 billion, both exceeding market expectations. The company also raised its organic revenue growth guidance for fiscal 2027.