Medtronic plans to exit ventilator production, focusing on Patient Monitoring and Respiratory Interventions (PMRI) businesses, and will honor existing ventilator contracts.

Medtronic plans to exit ventilator production, focusing on profitable Patient Monitoring and Respiratory Interventions (PMRI) businesses. The unprofitable ventilator product line will be combined into one business unit called Acute Care and Monitoring (ACM). The company will honor existing ventilator contracts and expects other manufacturers to cater to the market. Medtronic raised its FY24 revenue growth and EPS guidance, with organic revenue growth guidance increased from 4.75% to a new range of 4.75% to 5%, and EPS guidance raised to $5.19 to $5.21.

February 20, 2024
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