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2 clusters · 8 sources · 3 days · First seen · Last updated

Medtronic surgical and cardiovascular technology expansion

Overview

Medtronic has initiated significant investments to expand its surgical and cardiovascular technology portfolios. The company is investing approximately $700 million in Hong Kong-based Cornerstone Robotics, a move that grants Medtronic distribution rights for the Sentire surgical system in select international markets where it has regulatory approval. This system is intended to complement Medtronic’s existing Hugo robotic-assisted surgery system.

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

These strategic developments follow a strong fiscal first quarter for Medtronic, during which the company reported revenue of $9.76 billion and adjusted earnings of $1.45 per share, exceeding market expectations.

Entities

Cornerstone Robotics · Medtronic · Sentire · Medtronic PLC · Cureety

Timeline

  1. 8 days ago

    [BUSINESS] 3 sources
    Cureety and Medtronic announce major healthcare technology expansions

    Cureety has acquired AI cancer care firm Reimagine Care, while Medtronic has invested $700 million in Cornerstone Robotics to expand its surgical technology portfolio.

  2. 11 days ago

    [BUSINESS] 5 sources
    Medtronic invests $700 million in Cornerstone Robotics to expand surgical portfolio

    Medtronic is investing $700 million in Cornerstone Robotics to distribute the Sentire surgical system and up to $80 million in Pi-Cardia to bolster its cardiovascular technology portfolio.

Sources

digitalhealthnews.com · evertiq.com · financial-news.co.uk · infomeddnews.com · lifescivoice.com · pulse2.com · stocknews.com · therobotreport.com