Medtech in a Minute: Medtronic Pulls the Plug on Ventilators and More

Medtronic Pulls the Plug on Ventilator Market

Citing an "increasingly unprofitable" environment, Medtronic has decided to exit the ventilator market. This shows how drastically supply and demand can flip flop in a rather short period of time, considering the role Medtronic's ventilators played at the height of the COVID-19 pandemic. The company said it will honor existing ventilator contracts and expects that existing manufacturers in the space can meet customer demand for the life-saving devices moving forward. Medtronic also said it has decided to hold onto its remaining patient monitoring and respiratory interventions businesses, which will be combined into a single business unit.

Beware of Dirty Data in FDA Submissions

A recent FDA statement suggests an uptick of fabricated, duplicated, or otherwise unreliable data from third-party test labs included in FDA submissions. The agency points to numerous facilities in China and India as the source of such data, which has resulted in the agency's inability to determine substantial equivalence for market authorization. The company reminds medical device manufacturers that it is their responsibility to qualify third parties that generate data and to ensure that all information submitted to FDA is truthful and accurate.

3M Spinoff on Track for April Completion

3M Healthcare expects to complete its healthcare spinoff on April 1. As announced last November, the new company will be named Solventum. The business generated sales of $8.2 billion in 2023 and the new company will focus on wound care, healthcare IT, oral care, and biopharma filtration. 3M intends to keep a 19.9% stake in the new company.