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Medtronic Computer Crash To Have Limited Impact

Executive Summary

Despite a major a computer crash, Medtronic is confident it will meet its revenue growth projections for the first quarter. The company also says there is currently no indication the crash was the result of an outside agent such as the recent WannaCry and Petya worms.

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Medtronic's Q1 Topline Tumbles Due To Global IT Crash

Medtronic first quarter sales fell short of expectations with the company reporting worldwide revenue of $7.4bn, lagging behind analysts predicted revenue of $7.45 billion. The medtech giant said its top line had been impacted by a global meltdown of its IT systems on June 19 that affected the ability to process, ship and manufacture orders for a week.

Medtronic's Q1 Topline Tumbles Due To Global IT Crash

Medtronic first quarter sales fell short of expectations with the company reporting worldwide revenue of $7.4bn, lagging analysts predicted revenue of $7.45bn. The medtech giant said its top line had been impacted by a global meltdown of company IT systems on June 19 that affected the ability to process, ship and manufacture orders for a week.

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A cybersecurity expert with TrapX says the firm has at least one hospital client whose medical devices have been adversely affected by the so-called "Petya" ransomware worm. He is also concerned the recent "WannaCry" and Petya attacks are just tests for a far greater threat yet to come.

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