Prognosis
Medtronic to Spin Off Patient-Monitoring, Lung-Treatment Units
- CEO may see better and more-winnable opportunities: analysts
- Company had been considering the move for some time, CEO says
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Medical devicemaker Medtronic Plc will spin off its patient-monitoring and respiratory-intervention businesses, another move by a major health-care manufacturer to narrow focus on its most lucrative activities.
The separation of the units as a new company is expected to be completed within the next year to 18 months, Dublin-based Medtronic said Monday in a statement. They brought in $2.2 billion in revenue in fiscal 2022, about 7% of the company’s overall, Medtronic said.