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Last $73.56 USD
Change Today +0.04 / 0.05%
Volume 5.5M
As of 8:04 PM 08/28/15 All times are local (Market data is delayed by at least 15 minutes).

medtronic plc (MDT) Key Developments

Medtronic Announces Cash Dividend for Second Quarter of Fiscal Year 2016, Payable on October 16, 2015

The board of directors of Medtronic plc approved the fiscal year 2016 second quarter cash dividend of $0.38 per ordinary share, representing a 25% increase over the prior year. This quarterly declaration is consistent with the dividend announcement made by the company in June. The dividend is payable on October 16, 2015, to shareholders of record at the close of business on September 25, 2015.

Medtronic plc Launches the Entrust Delivery System in the United States

Medtronic plc announced the launch of its Entrust(TM) delivery system in the United States. The new Entrust delivery system enables physicians to place Medtronic's EverFlex (TM) self-expanding peripheral stent, while maintaining a low profile and providing the ease of a one-handed device. The Entrust delivery system deploys the EverFlex stent to re-open narrowed (stenotic) regions of the superficial femoral and proximal popliteal arteries that supply blood to the legs. Narrowing of these arteries is associated with a condition known as peripheral arterial disease (PAD), where plaque builds along lining of the arteries, blocking blood flow to the legs. The Entrust delivery system provides control and precision with its 5 F triaxial delivery system and its distinctive combination of features, including 0.035" guidewire compatibility, longer catheter lengths, and a broad stent matrix. The Entrust delivery system uses the EverFlex stent, which has been clinically proven to be safe and effective in treating long, complex and highly calcified lesions. In collaboration with leading clinicians, researchers and scientists, Medtronic offers the broadest range of innovative medical technology for the interventional and surgical treatment of cardiovascular diseases and cardiac arrhythmias. The company strives to offer products and services that deliver clinical and economic value to healthcare consumers and providers worldwide.

Medtronic plc Commences Registered Exchange Offer for Certain of its Senior Notes

Medtronic plc announced the commencement of exchange offers with respect to: (i) up to $500,000,000 aggregate principal amount of outstanding Floating Rate Senior Notes due March 15, 2020 issued by Medtronic Inc., together with the subsequent full and unconditional guarantees of such notes by the company and Medtronic Global Holdings S.C.A., for a like principal amount of Floating Rate Senior Notes due March 15, 2020, issued by Medtronic Inc. and guaranteed by the guarantors, which have been registered under the Securities; (ii) up to $1,000,000,000 aggregate principal amount of outstanding 1.500% Senior Notes due March 15, 2018 issued by Medtronic Inc. together with the subsequent full and unconditional guarantees of such notes by the guarantors for a like principal amount of 1.500% Senior Notes due March 15, 2018, issued by Medtronic Inc. and guaranteed by the guarantors, which have been registered under the Securities Act; (iii) up to $2,500,000,000 aggregate principal amount of outstanding 2.500% Senior Notes due March 15, 2020 issued by Medtronic Inc. together with the subsequent full and unconditional guarantees of such notes by the guarantors for a like principal amount of 2.500% Senior Notes due March 15, 2020, issued by Medtronic Inc. and guaranteed by the guarantors, which have been registered under the Securities Act; (iv) up to $2,500,000,000 aggregate principal amount of outstanding 3.150% Senior Notes due March 15, 2022 issued by Medtronic Inc. together with the subsequent full and unconditional guarantees of such notes by the guarantors for a like principal amount of 3.150% Senior Notes due March 15, 2022, issued by Medtronic Inc. and guaranteed by the guarantors, which have been registered under the Securities Act; (v) up to $4,000,000,000 aggregate principal amount of outstanding 3.500% Senior Notes due March 15, 2025 issued by Medtronic Inc. together with the subsequent full and unconditional guarantees of such notes by the guarantors for a like principal amount of 3.500% Senior Notes due March 15, 2025, issued by Medtronic Inc. and guaranteed by the guarantors, which have been registered under the Securities Act; (vi) up to $2,500,000,000 aggregate principal amount of outstanding 4.375% Senior Notes due March 15, 2035 issued by Medtronic Inc. together with the subsequent full and unconditional guarantees of such notes by the guarantors for a like principal amount of 4.375% Senior Notes due March 15, 2035, issued by Medtronic Inc. and guaranteed by the guarantors, which have been registered under the Securities; and (vii) up to $4,000,000,000 aggregate principal amount of outstanding 4.625% Senior Notes due March 15, 2045 issued by Medtronic Inc. together with the subsequent full and unconditional guarantees of such notes by the guarantors for a like principal amount of 4.625% Senior Notes due March 15, 2045, issued by Medtronic Inc. and guaranteed by the guarantors, which have been registered under the Securities Act. The exchange offers will commence on August 4, 2015 and expire at 11:59 p.m., New York City time, on August 31, 2015. Medtronic Inc. will accept for exchange any and all original notes validly tendered and not validly withdrawn prior to 11:59 p.m., New York City time, on August 31, 2015, unless the exchange offers are extended or terminated.

Medtronic plc Launches CD HORIZON(R) SOLERA(R) VOYAGER(TM) Spinal System

Medtronic plc announced the launch of the CD HORIZON(R) SOLERA(R) VOYAGER(TM) spinal system for Minimally Invasive Spine procedures. Available now in countries around the world, the CD HORIZON(R) SOLERA(R) VOYAGER(TM) System expands upon the transforaminal lumbar interbody fusion (TLIF) procedure by offering multiple, minimally invasive rod insertion options and enabling a seamless 3D-navigated surgical experience. With the CD HORIZON(R) SOLERA(R) VOYAGER(TM) System, surgeons have the flexibility to use either a percutaneous or Wiltse minimally invasive approach for rod insertion depending upon their preference. The system also features a low-profile, extended-tab screw with inner threading, which eases rod insertion and facilitates rod reduction. In addition, the system is part of Medtronic's Surgical Synergy(TM) Spinal Platform - the most integrated portfolio of navigated surgical technologies - which seeks to minimize the operating room from interruption and constraints and gives surgeons the freedom to focus wholly on their patients.

Medtronic plc Announces the Twelve-Month Results of the Veclose Pivotal Study

Medtronic plc announced the twelve-month results of the VeClose pivotal study, which demonstrated the safety and effectiveness of the VenaSeal(TM) closure system for the treatment of incompetent greater saphenous veins with a 96.8% closure rate. The VenaSeal closure system is a unique, minimally invasive, non-tumescent, non-thermal and non-sclerosant procedure that uses an advanced medical adhesive to close the diseased vein in patients with symptomatic venous reflux disease. Unlike other treatments, the VenaSeal closure system does not require tumescent anesthesia, allowing patients to return to their normal activities following the procedure. The VenaSeal procedure also eliminates the risk of nerve or other heat-related injury associated with thermal-based procedures, and may reduce the need for compression stockings post-procedure. The 12 month results of the VeClose study demonstrated outcomes for the VenaSeal closure system comparable with the closure rates associated with the ClosureFastTM catheter and demonstrated non-inferiority of the VenaSeal closure system.

 

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