Medtronic: plans to spin off certain businesses

(CercleFinance.com) - Medtronic announced plans to spin off its patient monitoring and respiratory intervention businesses to form a new company which is better positioned for long-term success and value creation.


In the past year, the combined company generated global sales of approximately 2.2 billion dollars, with a global commercial presence and a team of over 8,000 employees worldwide.

The medical device provider said this separation will enable it to focus its business and capital on opportunities that are better aligned with its long-term strategies to accelerate innovation-driven growth.

Medtronic expects the spin-off to be completed within the next 12 to 18 months, subject to the satisfaction of closing conditions, including final board approval and other regulatory authorisations.


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