Medtronic Lays Out Plans To Achieve 5%+ Annual Growth
The medtech giant offered additional details on its ongoing restructuring plan intended to make the company more competitive.
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The new independent kidney-care company will be equally co-owned by both companies. It will include all of Medtronic’s renal care solutions business, including renal access, acute therapies, and chronic therapies.
Dallara is joining Medtronic from Honeywell, where she served as CEO of the conglomerate’s Connected Enterprise. The company also promoted Mike Marinaro to the president of Medtronic’s surgical robotics unit and Kweli Thomson to lead the cardiac rhythm management unit.
During its recent quarterly earnings call, Medtronic CEO Geoff Martha reiterated that the company expects to announce changes over the next year that will help it drive growth and shareholder value. Analysts suspect Medtronic’s struggling diabetes business is probably the top candidate for a sale.