Medtronic Cuts Away More: Spins Off Patient Monitoring And Respiratory Business
Medtronic announced plans to spin off its patient monitoring and respiratory interventions businesses, which currently provide revenues of over $2bn a year. The company previously signaled plans to make significant changes to its business portfolio.
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Medtronic will stop producing ventilators and combine the rest of its patient monitoring and respiratory interventions business into a new business called acute care and monitoring. The company had previously announced plans to divest all of the patient monitoring and respiratory intervention business.
Reuters reported that global private equity firm Carlyle Group has offered to pay at least $7bn for Medtronic’s patient monitoring and respiratory interventions businesses. Medtronic announced its plan to get out of those businesses about one year ago.
Frank Chan, the president of Medtronic’s Patient Monitoring, talked to Medtech Insight about Medtronic’s planned spin-off of its Patient Monitoring business, some lessons from the pandemic, and the potential for digital data to improve patient outcomes.