Medtronic announced plans to spin off its Patient Monitoring and Respiratory Interventions businesses – part of an ongoing effort to streamline the business. (Also see "Medtronic Cuts Away More: Spins Off Patient Monitoring And Respiratory Business" - Medtech Insight, 25 October, 2022.)

During the company’s most recent sales and earnings call in February, Medtronic chief financial officer Karen Parkhill said the separation will be completed in the second half of fiscal 2024, which begins in calendar November 2023.

Medtronic has not announced the name of the spun-off company, so it is just calling it "NewCo" for now.

Parkhill said Medtronic will listen to offers from any companies who might want to acquire NewCo, but otherwise Medtronic expects to the spin to go as planned.

“[Medtronic is] focused on maximizing shareholder value with the separation,” she said.

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