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Medtronic plc (MDT)

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124.15+0.37 (+0.30%)
At close: 4:00PM EDT
124.28 +0.13 (0.10%)
Pre-market: 05:22AM EDT
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Previous close123.78
Open124.32
Bid0.00 x 800
Ask0.00 x 900
Day's range122.96 - 124.32
52-week range87.68 - 132.30
Volume3,435,028
Avg. volume4,746,592
Market cap167.031B
Beta (5Y monthly)0.80
PE ratio (TTM)46.67
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yield2.52 (2.04%)
Ex-dividend date24-Jun-2021
1y target estN/A
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News
  • GlobeNewswire

    Titan Medical Receives License Fee of $10 Million Upon Achievement of Milestone Under Medtronic Development Agreement

    Completion of Second Technical Milestone Marks Third Achievement Under Development and License AgreementTORONTO, May 28, 2021 (GLOBE NEWSWIRE) -- Titan Medical Inc. (Nasdaq: TMDI; TSX: TMD), a medical device company focused on the design and development of surgical technologies for robotic single access surgery, announced today that it has completed the second technical milestone under the development and license agreement with Medtronic plc (NYSE: MDT), and received a U.S. $10 million payment for licensing the developed technologies to Medtronic. The development and license agreement provides for the development of robotic-assisted surgical technologies for use by both Titan and Medtronic in their respective businesses. Titan retains world-wide rights to commercialize the developed technologies for use with its own Enos™ robotic single access surgical system. “Titan has continued to work diligently to complete this milestone on time, and we share Medtronic’s drive to take on healthcare’s greatest challenges to improve lives. I am proud of our in-house R&D team and development partners that have contributed greatly to achieving this milestone,” said David McNally, president and chief executive officer of Titan. “This is a testament to the expertise and inspiration of the teams, and how great companies can work together to improve medical technology for the benefit of patients and surgeons.” On October 26, 2020, Titan announced achievement of the first technical milestone and the completion of a non-technical financial milestone pursuant to the development agreement, with the satisfactory raising of U.S. $18 million of capital. Under the development and license agreement, Titan would receive an additional payment of approximately U.S. $11 million upon completing the third technical milestone, representing the fourth and final milestone. For clarity, these agreements are between Medtronic and Titan Medical Inc., and Titan Medical is not affiliated with Titan Spine, which Medtronic acquired in 2019. About Titan Medical Inc. Titan Medical Inc. (Nasdaq: TMDI; TSX: TMD), a medical device company headquartered in Toronto, Ontario and with R&D facilities in Chapel Hill, North Carolina, is focused on enhancing robotic assisted surgery using innovative technology through a single access point. The Enos™ robotic single access surgical system is being developed with an ergonomic focus to provide a surgical experience that imitates real-life movements that surgeons demand, and includes multi-articulating instruments designed to allow surgeons an increased range of motion in a confined space, with dexterity and the ability to exert the forces necessary to complete common surgical tasks. With the Enos system, Titan intends to initially pursue gynecologic surgical indications. Certain of Titan’s robotic assisted surgical technologies and related intellectual property have been licensed to Medtronic plc, while retaining world-wide rights to commercialize the technologies for use with the Enos system. Enos™ is a trademark of Titan Medical Inc. For more information, visit www.titanmedicalinc.com. Forward-Looking Statements This news release contains “forward-looking statements” within the meaning of applicable Canadian and U.S. securities laws. Such statements reflect the current expectations of management of the company’s future growth, results of operations, performance and business prospects and opportunities. Forward-looking statements are frequently, but not always, identified by words such as “may”, “would”, “could”, “will”, “anticipate”, “believe”, “plan”, “expect”, “intend”, “estimate”, “potential for” and similar expressions, although these words may not be present in all forward-looking statements. Forward-looking statements that appear in this release may include, without limitation, references to: the company’s focus on the design and development of surgical technologies for robotic single access surgery; the development and license agreement providing for the development of robotic assisted surgical technologies for use by both Titan and Medtronic; under the development and license agreement, Titan expects to receive an additional payment of approximately $11 million upon completing Medtronic Milestone 4, the fourth and final milestone under the development and license agreement; upon completion and acceptance of the technology milestone by Medtronic and Titan’s receipt of the license payment, Medtronic will secure a world-wide license to such technologies; the company’s intention to initially pursue gynecologic surgical indications with the Enos system; and the license of certain of Titan’s robotic assisted surgical technologies and related intellectual property to Medtronic plc, while retaining world-wide rights to commercialize the technologies for use with the Enos system. These statements reflect management’s current beliefs with respect to future events and are based on information currently available to management. Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors could cause the company’s actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements, including, without limitation, those listed in the “Risk Factors” section of the company’s Annual Information Form and Form 40-F for the fiscal year ended December 31, 2020 (which may be viewed at www.sedar.com and at www.sec.gov). Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance, or achievements may vary materially from those expressed or implied by the forward-looking statements contained in this news release. These factors should be considered carefully, and prospective investors should not place undue reliance on the forward-looking statements. Although the forward-looking statements contained in the news release are based upon what management currently believes to be reasonable assumptions, the company cannot assure prospective investors that actual results, performance or achievements will be consistent with these forward-looking statements. Except as required by law, the company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise. Titan Medical Contact:Kristen GalfettiVice President Investor Relations & Corporate Communications+1-781-869-2553investors@titanmedicalinc.com

  • Nextech AR’s Virtual Event Platform Selected by Canadian Surgery Forum for Its 2021 Virtual Trade Show
    GlobeNewswire

    Nextech AR’s Virtual Event Platform Selected by Canadian Surgery Forum for Its 2021 Virtual Trade Show

    Canadian Surgery Forum, the largest surgical meeting in Canada, attracts more than 1,000 general surgeons selects Nextech’s InfernoAR platform.Nextech AR’s Virtual Experience Platform (VXP) continues to see accelerating sales momentum globally with large scale global enterprise and institutional customer wins.The global virtual events market is expected to reach more than $400B by 2027, growing at a 23% CAGR. VANCOUVER, British Columbia, Feb. 09, 2021 (GLOBE NEWSWIRE) -- Nextech AR Solutions (Nextech) (OTCQB: NEXCF) (NEO: NTAR.NE) (CSE:NTAR) (FSE: N29), a diversified leading provider of augmented reality (AR), virtual event live streaming experiences plus services for 3D ads, eCommerce, and education, today announced that its Virtual Experience Platform (VXP) to host this year’s virtual Canadian Surgery Forum (CSF) taking place September 21-24, 2021. CSF partners and exhibitors include the Canadian Association of General Surgeons (CAGS), Olympus, Johnson and Johnson JNJ (NYSE) , Medtronic MDT (NYSE), Stryker SYK (NYSE), Pfizer PFE (NYSE) and others. The CSF is the largest surgical meeting in Canada, bringing together more than 1,000 general surgeons annually. The 2021 show marks the 20th Anniversary of the CSF. The event seeks to connect surgeons from seven surgical societies representing several key subspecialties including general surgery, thoracic surgery, colon and rectal surgery, surgical oncology, hepatobiliary surgery, hernia surgery and trauma surgery. During CSF 2021, Nextech’s event production team will be on hand to manage all main stage video content as well as to coordinate subsequent breakout sessions, offering guests a professionally produced, high-quality video streaming experience. The CSF also features a trade show for industry exhibitors. This year, with the help of Nextech’s VXP, 40+ exhibitors will be able to showcase their technologies, products and offerings and network with attendees. “Nextech was one of the only platforms we tested that I felt could deliver on the objectives of all our stakeholders” said Karen Norris, CSF Manager. “Our delegates will be engaged in the education sessions via the visually stunning virtual ‘rooms’ and easy to navigate user platform. Our sponsors and exhibitors will be able to showcase their products and recent research and development via the augmented reality features of the platform. The CSF is delighted to be working with Nextech to design a virtual experience that engages all our event stakeholders to share research and advance advocacy efforts for the Canadian surgical community.” Evan Gappelberg, CEO of Nextech AR comments, “The CSF is predominant event for the medical community in Canada and we’re honored to be selected as their partner to create a scalable, reliable virtual venue.” He continues, “Our scalable, secure and experiential solution is becoming a leading choice for professional associations and trade shows in the medical industry as we continue to land more and more events in the medical field. Our ability to provide the most comprehensive offerings, including significant revenue sponsorship and our exclusive 3D ad networks to virtual exhibitor booths gives us an edge over other event platforms. Each partnership and virtual experience we build showcases the power of our technology as our momentum builds within the $90 billion-dollar virtual events market expected to reach $400 billion in the next few years according to Grandview. As we push into February, we are seeing an acceleration of global demand for eCommerce, augmented reality, and virtual events by enterprise and global brands which positions us for a positive Q1, 2021.” Nextech’s platforms have serviced dozens of Fortune 500 businesses such as Amazon, Viacom, Johnson and Johnson, Bell Canada, UNESCO, Dell Technologies, Luxottica, Vulcan Inc , Boehringer Ingelheim, TEDx, Grundfos, and Arch Insurance. Security is a core feature of the company which reported a breakthrough in security with the help of Fastly, an edge computing company. Bringing token authentication to the edge greatly enhances security and performance, which is essential for Nextech to collaborate with additional Fortune 500 companies in the near future. To learn more about Nextech AR, please visit www.Nextechar.com About the Canadian Surgery ForumThe Canadian Surgery Forum (CSF) is the largest surgical meeting in Canada attracting 1000+ general surgeons annually. The CSF is a partnered conference bringing together numerous surgical societies focused on various surgical subspecialties, general surgery, thoracic surgery, colon and rectal surgery, surgical oncology, hepatobiliary surgery, hernia surgery and trauma surgery. The objective of the CSF is to foster communication among surgical subspecialties and to advance continuing professional development, clinical practice, education, research, and public advocacy while providing members of the Canadian surgical community an opportunity to meet and network in a collegial fashion. Recent Company Highlights: February 8, 2021: The Company announced the launch of new standardized chat features within its Virtual Experience Platform /VXP) and recently-launched ARoom collaborative streaming solution. Nextech will also offer the chat platform, as a stand-alone SaaS service externally, increasing the company's revenue potential for 2021.February 3, 2021: The Company announced that the Canadian Dairy XPO (CDX) has selected Nextech AR’s Virtual Experience Platform (VXP) to host its 2021 trade show, taking place virtually on April 7-8, 2021.February 1, 2021: The Company announced that it has been invited to Microsoft’s (MSFT: NASDAQ) Global Education Partner Summit (GEPS), taking place virtually on February 8-10, 2021.January 29, 2021: The Company announced Society of Physician Leaders (CSPL) has selected Nextech AR’s Platform to host this year’s Canadian Conference on Physician Leadership (CCPL) taking place April 26-29, 2021.January 26, 2021: The Company announced in partnership with ARB Meetings and Events it has signed a six-figure annual contract to supply its InfernoAR video conferencing and virtual events platform to NAMD.January 25, 2021: The Company announced that Strategic Site Selection (SSS), a 15 year old site selection leader in the meeting and events industry, has selected Nextech AR as a preferred channel partner, making Nextech’s industry leading virtual experience platform and services available to SSS clients.January 20, 2021: The Company announced that Microsoft’s Azure Cloud Services platform will be a standard offering across its virtual experience platforms and consumer apps enabling hyper-scalable, secure, and immersive events and applications for users.January 15, 2021: Company has signed a renewal agreement with Poly with an initial value of $470,000 for a six-month term and the potential for additional revenue after the six months.Record Q4 2020 Total Bookings of $7.3 million +275% growth over the same period last yearCEO Evan Gappelberg purchased 250,000 shares. This purchase brings his 2020 purchased shares to 1,279,885 common shares of Nextech.Announced the launch of its ground-breaking “Genie in a Bottle” human hologram AR marketing platform and new eCommerce store for its TruLyfe brand of human supplements.Company graduated from the CSE and received approval to list its common shares with the NEO Exchange (“NEO”) senior exchange.Announced that it is expanding its services into the Asia-Pacific market after establishing a presence in Singapore. To support this expansion, Nextech has hired Yau Boon Lim, a technology industry veteran with over 25 years’ experience in strategy, planning, marketing, operations, and business management for various industries in the Asia Pacific market. Lim has held leadership positions within global enterprise technology companies, driving marketing and strategies for blue chip global tech companies, including IBM where he led marketing management, Motorola where he was Head of Strategy and Planning, and SAP where he was Vice President of Marketing for the Asia Pacific market. Lim is based out of Singapore.Coex chooses Nextech as its hybrid virtual event platform partner. Coex is a global leader in Meetings, Incentives, Conferences & Events (MICE); it hosts over 200 exhibitions and 3,000 meetings & events in-house each year in Korea at the Coex convention and exhibition center. Coex also organizes numerous exhibitions throughout Korea and abroad, with international reach in Vietnam, Indonesia, and China.The Canadian Society of Nephrology (CSN) has chosen Nextech AR’s Virtual Experience Platform (VXP) to host its 2021 Annual General Meeting, taking place May 10-13.Launched a new collaborative streaming solution with AI and AR enhancements, that integrates with its existing Virtual Experience Platform (VXP) and its ARitize SaaS offerings. About Nextech AR Nextech is one of the leaders in the rapidly growing Augmented Reality market estimated to grow from USD $10.7B in 2019 and projected to reach USD $72.7B by 2024 according to Markets & Markets Research; it is expected to grow at a CAGR of 46.6% from 2019 to 2024. The company is pursuing four verticals: Virtual Experience Platform (VXP): An advanced Augmented Reality and Video Learning Experience Platform for Events, is a SaaS video platform that integrates Interactive Video, Artificial Intelligence and Augmented Reality in one secure platform to allow enterprises the ability to create the world’s most engaging virtual event management and learning experiences. Automated closed captions and translations to over 64 languages. According to Grandview Research the global virtual events market in 2020 is $90B and expected to reach more than $400B by 2027, growing at a 23% CAGR. With Nextech’s VXP platform having augmented reality, AI, end-to-end encryption, and built-in language translation for 64 languages, the company is well positioned to rapidly take market share as the growth accelerates globally. ARitize™ For eCommerce: The company launched its SaaS platform for webAR in eCommerce early in 2019. Nextech has a ​ ‘full funnel’ end-to-end eCommerce solution for the AR industry including its Aritize360 app for 3D product capture, 3D/AR ads, its ARitize white label app, its ‘Try it On’ technology for online apparel, 3D and 360-degree product views, and ‘one click buy’. ARitize™ 3D/AR Advertising Platform: Launched in Q1 2020 the ad platform will be the industry's first end-to-end solution whereby the company will leverage its 3D asset creation into 3D/AR ads. In 2019, according to IDC, global advertising spend will be about $725 billion. ARitize™ Hollywood Studios: The studio is in development producing immersive content using 360 video, and augmented reality as the primary display platform. To learn more, please follow us on Twitter, YouTube, Instagram, LinkedIn, and Facebook, or visit our website: https://www.Nextechar.com. On behalf of the Board of Nextech AR Solutions Corp.“Evan Gappelberg”CEO and Director For further information, please contact: Evan GappelbergChief Executive Officerinfo@Nextechar.com The NEO has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Certain information contained herein may constitute “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as, “will be”, “looking forward” or variations of such words and phrases or statements that certain actions, events, or results “will” occur. Forward-looking statements regarding the Company increasing investors awareness are based on the Company’s estimates and are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, levels of activity, performance, or achievements of Nextech to be materially different from those expressed or implied by such forward-looking statements or forward-looking information, including capital expenditures and other costs. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Nextech will not update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

  • GlobeNewswire

    Medtronic Cryoablation Superior to Drug Therapy for Symptomatic Paroxysmal Atrial Fibrillation

    ESC Congress: New Research Highlights First-Line Use of Cryoablation as Highly Effective, and with Improved Quality of Life ScoresDUBLIN, Aug. 29, 2020 (GLOBE NEWSWIRE) -- Medtronic plc (NYSE:MDT), the global leader in medical technology, today announced clinical trial results demonstrating superiority of the Arctic Front™ Advance Cardiac Cryoballoon and Freezor® MAX Cardiac CryoAblation Catheter for the first-line treatment (prior to drug therapy) of recurrent symptomatic paroxysmal atrial fibrillation (PAF) compared to antiarrhythmic drug (AAD) treatment. Primary results of the randomized STOP AF First trial were presented as a late breaking clinical trial at the European Society of Cardiology (ESC) Congress 2020 Digital Experience. Additionally, 12-month outcomes from the Cryo-FIRST trial showed a significant improvement in atrial fibrillation-related quality of life with the use of the Medtronic cryoablation system compared to anti-arrhythmic drug therapy in patients who had not previously received antiarrhythmic drugs to treat their symptomatic PAF.Atrial fibrillation (AF) is a progressive condition that impacts more than 33 million people worldwide.1 Without early intervention, progression of the condition is associated with a higher rate of cardiovascular admissions,2 heart failure hospitalization,3 and mortality,4 along with a reduced quality of life.5 Antiarrhythmic drug therapy is currently the standard first-line treatment for patients with AF; however, AF recurs in approximately 50% of patients treated with AADs within a year of therapy onset. In addition, AAD therapy frequently causes side effects that can lead many patients to discontinue treatment.6 Cryoablation uses cold energy (freezing) delivered through an inflatable balloon to create scar tissue to interrupt unwanted electrical pathways in the heart.STOP-AF First Primary Results The STOP-AF First trial enrolled 225 patients at 24 sites in the United States and was designed to evaluate the safety and effectiveness of the Medtronic cryoablation system to treat recurrent symptomatic PAF in patients who had not previously received antiarrhythmic drugs for their AF. A total of 203 patients randomized to cryoablation (104 in treatment arm) or AAD therapy (99 in control arm) received treatment and were followed for 12 months.Results showed superiority of cryoablation for maintaining freedom from AF, atrial tachycardia and atrial flutter, with treatment success achieved in 75% of patients in the catheter ablation group versus 45% in the AAD group (P<0.0001). Furthermore, the trial revealed a low rate of safety events with catheter ablation as a first-line therapy (1.9%). Previous studies have consistently demonstrated a low rate of serious complications with cryoablation in drug refractory patients; the STOP AF First study furthers these observations specifically to patients who had not previously received antiarrhythmic drugs to treat their symptomatic PAF.7,8Cryo-FIRST Quality of Life Results  Cryo-FIRST was a randomized, multicenter trial that enrolled 220 patients at 18 sites in nine countries across Europe, Australia and Latin America. Similar to STOP AF First, this trial found that the Medtronic cryoablation system is superior to AAD therapy for the prevention of atrial arrhythmia recurrence in PAF patients who have not previously been treated with drug therapy.New quality of life findings from the trial, also presented at ESC 2020, showed the Medtronic cryoablation solution resulted in a significant improvement in AF-specific, health-related quality of life at 12 months compared to AAD therapy.“More than half of patients with symptomatic AF do not experience a reduction in AF with antiarrhythmic drugs, effectively delaying their therapy and leaving a critical need for an alternative first-line treatment,” said Rob Kowal, M.D., Ph.D., chief medical officer of the Cardiac Rhythm and Heart Failure and the Cardiac Ablation Solutions divisions, which are part of the Cardiac and Vascular Group at Medtronic. “Not only do the STOP AF First findings show cryoablation is a potential first-line treatment for these patients, the Cryo-FIRST results show encouraging benefits of this treatment approach on these patients’ quality of life.”The Arctic Front Advance Cryoablation System is approved in Europe for the treatment of AF. The United States Food and Drug Administration (FDA) recently expanded the indication for Medtronic cryoablation therapy to include treating patients with symptomatic, recurrent persistent AF, in addition to patients with drug refractory, recurrent, symptomatic paroxysmal AF. Results of the STOP-AF First trial have not been reviewed by the FDA.“The strong evidence from these trials will help bring cryoablation treatment to more patients suffering from AF earlier in the course of their disease,” said Rebecca Seidel, vice president and general manager of Cardiac Ablation Solutions. “Medtronic has very robust clinical evidence supporting the Arctic Front Family of Cardiac Catheters as a first line therapy for paroxysmal AF, and for paroxysmal and persistent AF patients whose condition is unresponsive to drug therapy.”In collaboration with leading clinicians, researchers and scientists worldwide, Medtronic offers the broadest range of innovative medical technology for the interventional and surgical treatment of cardiovascular disease and cardiac arrhythmias. The company strives to offer products and services that deliver clinical and economic value to healthcare consumers and providers around the world.About Medtronic Medtronic plc (www.medtronic.com), headquartered in Dublin, Ireland, is among the world’s largest medical technology, services and solutions companies – alleviating pain, restoring health and extending life for millions of people around the world. Medtronic employs more than 90,000 people worldwide, serving physicians, hospitals and patients in more than 150 countries. The company is focused on collaborating with stakeholders around the world to take healthcare Further, Together.Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic's periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results.-end-1 Chugh S, Havmoeller R, Narayanan K, et al. Worldwide epidemiology of atrial fibrillation: a global burden of disease 2010 study. Circulation. 2014; 129:837-847. 2 de Vos CB et al. rogression from paroxysmal to persistent atrial fibrillation clinical correlates and prognosis. J Am Coll Cardiol. 2010;55(8):725-731. 3 Wong JA et al. Progression of Device-Detected Subclinical Atrial Fibrillation and the Risk of Heart Failure. J Am Coll Cardiol. 2018;71(23):2603-2611. 4 Piccini JP et al. Atrial fibrillation burden, progression, and the risk of death: a case-crossover analysis in patients with cardiac implantable electronic devices. Europace. 2019;21(3):404-413. 5 Dudink E et al. The influence of progression of atrial fibrillation on quality of life: a report from the Euro Heart Survey, EP Europace, Volume 20, Issue 6, June 2018, Pages 929–934 6 Valembois L et al. Antiarrhythmics for maintaining sinus rhythm after cardioversion of atrial fibrillation. Cochrane Database of Systematic Reviews 2019, Issue 9. Art. No.: CD005049. DOI: 10.1002/14651858.CD005049.pub5. 7 Knight BP, Novak PG, Sangrigoli R, et al.; STOP AF PAS Investigators. Long-Term Outcomes After Ablation for Paroxysmal Atrial Fibrillation Using the Second-Generation Cryoballoon: Final Results From STOP AF Post-Approval Study. JACC Clin Electrophysiol. 2019; 5(3): 306-314. 8 Hoffmann E, Straube F, Wegscheider K, et al. Outcomes of cryoballoon or radiofrequency ablation in symptomatic paroxysmal or persistent atrial fibrillation. Europace 2019;21:1313-24. Lauren Mueller Public Relations +1-763-285-9053Ryan Weispfenning Investor Relations +1-763-505-4626