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Calgary, Alberta May 24, 2024 - TheNewswire . Ocumetics Technology Corp. (" Ocumetics " or the " Corporation ") ( TSXV: OTC) (OTCQB: OTCFF) (FRA: 2QBO) announces that it has completed the first tranche of the private placement of debentures previously announced by the Corporation on May 15, 2024.
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Calgary, Alberta TheNewswire - February 29, 2024 - Ocumetics Technology Corp. ("Ocumetics") (TSXV:OTC) (OTC:OTCFF) (FRA:2QBO), is pleased to invite investors and other interested parties to attend an upcoming interview with Market Radius Research.
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Calgary, Alberta TheNewswire - December 21, 2023 - Ocumetics Technology Corp. (" Ocumetics " or the " Corporation ") (TSXV:OTC) (OTC:OTCFF) (FRA:2QBO) is pleased to announce that the TSX Venture Exchange has granted a 15-day extension to close the Corporation's non-brokered private placement announced on November 15, 2023. The new closing deadline for the private placement is January 15, 2024.
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Ocumetics Technology Corp. (" Ocumetics ") ( TSXV:OTC) (OTC:OTCFF) (FRA:2QBO) a pioneer in the field of ophthalmic innovation, announces a webinar to discuss the successful completion of its biocompatibility animal study and its upcoming first-in-human study, anticipated to commence in Q1 2024 in the Dominican Republic
Dean Burns, CEO of Ocumetics and 27-year Alcon veteran, will lead the presentation.
Click Image To View Full Size
Join the webinar to:
Learn more about the significance of the biocompatibility animal study;
Learn more about the upcoming first-in-human study; and
Ask questions regarding the Ocumetics Accommodating Lens and the company's plans.
Details are as follows:
Date: December 20, 2023
Time: 18:00 EST
RSVP: https://ocumetics.com/webinar-december-20-2023/
About Ocumetics
Ocumetics Technology Corp. ( TSXV: OTC) (OTCQB: OTCFF) (FRA: 2QBO), headquartered in Calgary, Alberta, Canada, is an innovator in the field of ophthalmic technology, dedicated to developing and commercializing advanced vision correction solutions that enhance the quality of life for individuals worldwide.
Ocumetics is in the preclinical study stage of a game-changing technology for the ophthalmic industry. In its pursuit of a next generation interocular lens solution, Ocumetics has developed the Ocumetics Accommodating Lens, an expandable intraocular lens that fits within the natural lens compartment of the eye potentially to eliminate the need for corrective lenses. It is designed to allow the eye's natural muscle activity to seamlessly shift focus from distance to intermediate to near.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Dean Burns
President and CEO
(817) 874-7564
Dayton Marks
Director
(778) 347-2500
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Copyright (c) 2023 TheNewswire - All rights reserved.
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The board of directors of Medtronic plc (NYSE: MDT) on Thursday, December 5, 2024, approved the company's cash dividend for the third quarter of fiscal year 2025 of $0 .70 per ordinary share. This quarterly declaration is consistent with the dividend increase announcement made by the company in May 2024. Medtronic is a constituent of the S&P 500 Dividend Aristocrats index, having increased its annual dividend payment for the past 47 consecutive years. The dividend is payable on January 10, 2025 to shareholders of record at the close of business on December 27, 2024 .
About Medtronic
Bold thinking. Bolder actions. We are Medtronic . Medtronic plc , headquartered in Galway , Ireland , is the leading global healthcare technology company that boldly attacks the most challenging health problems facing humanity by searching out and finding solutions. Our Mission — to alleviate pain, restore health, and extend life — unites a global team of 95,000+ passionate people across more than 150 countries. Our technologies and therapies treat 70 health conditions and include cardiac devices, surgical robotics, insulin pumps, surgical tools, patient monitoring systems, and more. Powered by our diverse knowledge, insatiable curiosity, and desire to help all those who need it, we deliver innovative technologies that transform the lives of two people every second, every hour, every day. Expect more from us as we empower insight-driven care, experiences that put people first, and better outcomes for our world. In everything we do, we are engineering the extraordinary. For more information on Medtronic , visit www.Medtronic.com and follow Medtronic on LinkedIn .
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.
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Cardiex is trailblazing the health technology industry through its innovative solutions that are transforming cardiovascular health care.
Cardiex Limited (ASX:CDX) is an ASX-listed medical technology company leveraging its proprietary SphygmoCor® technology to develop and market vascular biomarker technologies and digital solutions focused on the world’s largest health disorders. The company’s groundbreaking technology – SphygmoCor® – set the benchmark for noninvasive measurement of central aortic pressures and related arterial health characteristics, collectively referred to as vascular biomarkers.
While measuring arterial health parameters has always been considered clinically beneficial, it was not considered for routine out-patient clinical use as it previously required an invasive catheterization procedure with a pressure sensor inserted into the aorta. Founded on 40 years of hemodynamics studies and backed by 20+ years of research, Cardiex’s SphygmoCor technology employs non-invasive techniques to assess "central aortic waveforms," offering valuable insights into various clinically significant arterial health parameters including arterial stiffness, central blood pressure (the pressure at the heart), pulse pressure, and crucial indicators of vascular health for major organs such as the heart, brain and kidneys.
Assessing central blood pressure directly at the heart is deemed superior to conventional blood pressure measurements taken at the arm, primarily owing to the heart's proximity to vital organs. Cardiex’s FDA-cleared devices replace traditional blood pressure technology for first-line screening and monitoring of arterial health status. The unique physiologic insights from the company’s devices provide clinically relevant information that helps guide treatment decisions and offers profound benefits for all members of the healthcare community:
For Healthcare Providers: Enable physicians to make more informed treatment decisions based on clinically relevant vascular health data.
For Patients: Give patients the tools to make better decisions about their own health.
For Pharmaceutical Companies: Generate reliable, real-world, clinically relevant data to accelerate drug development and commercialization.
For more than two decades, the company’s SphygmoCor technology has set the benchmark for vascular biomarker assessments, adopted by premier hospitals and pharmaceutical giants worldwide. SphygmoCor is the chosen technology for measuring central blood pressure in all of the "top 20 hospitals" in the US and has played a crucial role in the clinical trials of leading firms including Bayer, AstraZeneca, Roche, Novartis and GlaxoSmithKline.
Between 2002 and 2023, CDX received five FDA clearances, the latest for the CONNEQT Pulse, a first-of-its-kind connected vascular biometrics monitor.
Cardiex devices have previously been sold and used exclusively in clinical settings – principally by specialist clinicians, for research, and by pharmaceutical companies for drug assessment.
The introduction of CONNEQT Pulse represents a significant shift for Cardiex, allowing the company to enter the connected care market and transition from niche segments to the mass healthcare market. Priced comparably to a home health monitor, the CONNEQT Pulse is positioned for widespread adoption and can be deployed at scale in general healthcare practices, homes, or any location where patients are present.
The CONNEQT Pulse will also bolster Cardiex's portfolio in clinical trial solutions with the introduction of a decentralized clinical trial (DCT) platform. The Cardiex DCT platform empowers clinical trial managers to remotely monitor thousands of patients in their homes, enabling pharmaceutical companies to more effectively evaluate potential vascular outcomes across various trial phases. This leads to increased efficiency and cost-effectiveness in trial outcomes.
Furthermore, in response to the growing demand for proactive health monitoring, Cardiex will be launching an innovative wrist-worn device that leverages the SphygmoCor technology to deliver a medical grade wearable with capabilities far beyond conventional health trackers. The CONNEQT Band will be a wearable “cuffless” device designed to monitor vascular health in patients as well as to provide general health insights to consumers.
Cardiex’s goal is to establish a holistic ecosystem that promotes cardiovascular well-being and empowers users to proactively manage their health as an integral part of individuals' health routines, contributing to a paradigm shift in preventive cardiovascular care.
The company’s first-mover advantage and exclusive technology FDA-cleared for noninvasive measurement of central pulse pressures and vascular biomarkers across all adult demographics grant it a distinctive market position. CDX recently secured AU$14 million in funding, which is enough to steer the company towards profitability.
With the entry into the connected care home market with the CONNEQT Pulse, CDX is transitioning towards a recurring revenue model based on monthly subscription fees. This should excite investors, given that the recurring revenue model will receive a higher multiple by the market, thereby boosting the company's valuation.
CONNEQT is focused on devices and solutions for home health, remote patient monitoring, and decentralized clinical trials. Cardiex offers two devices under the CONNEQT brand – the recently FDA-cleared CONNEQT Pulse and the upcoming CONNEQT Band wearable. The company estimates CONNEQT’s total addressable market opportunity to be nearly $283 billion across three markets – remote patient monitoring ($175 billion), health wearables ($104 billion), and decentralized clinical trials ($14 billion).
CONNEQT Pulse: The CONNEQT Pulse provides measurements of both central and brachial blood pressures, alongside vascular biomarkers reflecting arterial stiffness and overall vascular health—metrics once exclusively only available to specialist clinics, research, and pharmaceutical companies. As a Bluetooth-enabled device, it empowers patients and health enthusiasts to track their arterial health from home, employing the same advanced tools used by top cardiologists in research centers and clinics.
Physicians can prescribe the CONNEQT Pulse to patients requiring heart health monitoring. Patient data seamlessly integrates with the CONNEQT Patient Management Portal (CPMP), a HIPAA-compliant cloud-based tool that enables healthcare providers to remotely track patients' arterial health by way of a tablet. Furthermore, consumers and patients can access comprehensive arterial health insights, coaching, lifestyle programs, and additional health resources via the CONNEQT app.
CONNEQT Band: CONNEQT Band is a world's-first dual sensor arterial health wearable device featuring an innovative design with dual (wrist-and finger-based) photoplethysmography (PPG) optical sensors. The wrist-based sensor continuously captures physiological data such as heart rate, respiration, stress, activity, sleep, and pulse oximetry, while our patented on-demand finger-based side sensor uniquely derives clinically meaningful vascular biomarkers representing arterial stiffness and cardiovascular health.
By combining data from both sensors, the CONNEQT Band offers users a comprehensive view of their overall cardiovascular health which has never been available outside of a physician’s office. The CONNEQT Band is also supported by the CONNEQT app, available for both iOS and Android devices, which serves as a hub where users can easily access detailed reports, track their progress over time, explore content, and receive personalized health insights and recommendations.
The CONNEQT Band is currently in the process of FDA submission preparation. This innovative device is poised to extend the company's portfolio in connected health technology, offering users a new, user-friendly tool for monitoring their health metrics. With its cutting-edge features, the CONNEQT Band is expected to make a significant impact in the way individuals manage their wellness, bridging the gap between advanced health monitoring and everyday convenience.
A significant global market opportunity in wearable health devices is driven by nearly 1.3 billion hypertensive and other vascular disease patients. Some of the other wearable device firms have attracted significant funding at high valuations in recent times. For instance, Oura Health, a Finnish company that makes smart rings for tracking sleep and physical activity, was valued at $2.55 billion in April 2022.
Craig Cooper has established numerous prosperous health, digital media, technology and wellness ventures. Notably, he co-founded Boost Mobile, a prominent telecommunications company recognized as one of the leading mobile phone businesses in the USA. He is acknowledged as a distinguished authority and influential figure on a global scale in mobile and wireless technology, as well as businesses related to digital health and medical technology. His venture capital endeavors have secured over AU$3 billion, financing some of the most impactful global digital media technology companies. Cooper is also a principal of C2 Ventures, Cardiex’s largest shareholder.
Niall Cairns boasts a successful 25-year record of investing in both private and public companies. He has played a pivotal role in advancing the global expansion of more than 50 enterprises spanning various sectors, including digital media, agtech, medtech, consumer internet, and SaaS-based businesses. Cairns is also a principal of C2 Ventures, Cardiex’s largest shareholder.
King Nelson brings over 30 years of extensive experience in medical devices. He was previously the president and CEO at Uptake Medical Corporation, concentrating on treatments for emphysema and lung cancer. Before Uptake, he served as president and CEO of Kerberos Proximal Solutions, a company later acquired by FoxHollow Technologies. He was also president and CEO of VenPro, a heart valve business acquired by Medtronic. King also accumulated 19 years of experience with Baxter International and American Hospital Supply Corporation, progressing through various roles with increasing responsibilities. These roles included serving as division president for Dade Diagnostics, Bentley Labs, and Baxter’s Perfusion Services. Nelson is currently the CEO at Q’Apel Medical, a medical device company specializing in neurovascular disease.
Charlie Taylor has over three decades of international advisory experience and recently concluded his tenure as senior partner at McKinsey, where he oversaw the health and public sector practice. Taylor has counseled numerous private and public sector healthcare organizations in Australia and globally, covering areas such as strategy, digitalization, operational enhancements, growth transformations, international expansion, supply chain management, mergers and acquisitions, and board governance. He is a non-executive director of Healius, a leading Australian health diagnostics company, and a part-time senior board advisor at McKinsey for the health and public sector practice.
Dr. Sanjeev Bhavnani has served as a senior medical officer at the Digital Health Center of Excellence within the FDA's Center for Devices and Radiological Health (CDRH), overseeing clinical and scientific initiatives concerning digital health and medical devices incorporating artificial intelligence.
Bhavnani is also currently a senior cardiologist and principal investigator of digital health and machine learning at Scripps Clinic in San Diego, California, where he leads programs to develop and validate new technologies and to evaluate the safety and effectiveness of DHTs, nanosensors, cloud-based analytical platforms, handheld imaging technologies, AI/ML algorithms and software as a medical device. For over a decade, Bhavnani was the principal investigator of 90 clinical trials and patient care programs. These programs have enrolled over 30,000 patients in the US and in resource-limited areas. His team developed the SMART-FHIR integration interface for DHT data into EMRs for remote patient monitoring, remote therapeutic monitoring, and chronic care management, creating a real-world data platform to monitor the healthcare quality of DHT and ML devices in traditional and new consumer models of care delivery.
Catherine Liao has served as our chief strategy officer since September 2022. Previously, Liao served as chief executive officer of Blumio, a pioneering medical device startup, from February 2016 to September 2022, where she led efforts in raising capital, formed a leadership and advisory board rich in knowledge spanning healthcare innovations, enterprise technology, and sensor technology. Her notable achievements include leading the commercialization of a groundbreaking medical radar sensor development platform, which garnered significant industry attention and was eventually acquired by Cardiex. Liao holds an MBA from Imperial College London and a Master of Science in Health Economics from the London School of Economics. These credentials underscore her deep and comprehensive insight into the intricacies of both the business world and the healthcare sector, demonstrating a balanced expertise critical for navigating and innovating within today’s complex healthcare economies.
Dr. Mark Gorelick has served as Cardiex’s chief product officer since December 2020, bringing a wealth of experience from various leadership roles in the health and wellness technology sector. With an impressive tenure beginning in 2007, he has been at the helm as managing director of XPhys Technologies, a company at the forefront of developing innovative fitness, health, and wellness products. His strategic vision was further demonstrated through his role as vice-president of Digital Health, from 2018 to 2019, at Performance Lab Technologies, acclaimed for its software development prowess in the health sector. Further cementing his reputation in health technology, Gorelick served as the chief science officer at PAI Health (originally Mio Global) from 2015 to 2018, where he was instrumental in advancing health technology software solutions. Holding a BSc and MSc in kinesiology from Dalhousie University and a Ph.D. in biomedical science from University of Wollongong, Gorelick’s educational background underscores his deep-rooted understanding and innovative approach to biomedical science and kinesiology, reinforcing his invaluable contribution to our company and the broader health technology landscape.
FN Media Group News Commentary - Innovations in robotics technology, including artificial intelligence machine learning, and sensor technology, are enhancing the capabilities of medical robots. These advancements enable more precise surgical procedures, improved rehabilitation processes, and efficient hospital logistics, thus attracting more healthcare facilities to adopt robotic solutions. The market is characterized by a moderate level of merger and acquisition (M&A) activity by the leading players. This is due to several factors, including the desire to expand the business to cater to the growing demand for medical service robots. A report from Grand View Research said that the global medical service robots market size was estimated at USD 20.59 billion in 2024 and is projected to grow at a CAGR of 16.5% from 2025 to 2030. It said: "The growth can be attributed to the introduction of technologically advanced robotic equipment in the healthcare sector and the rise in per capita healthcare spending. Continuous advancements in technology, such as robotic catheter control systems (CCS), data recorders, data analytics, remote navigation, motion sensors, 3D-Imaging, and HD surgical microscopic cameras, are projected to drive industry growth. Furthermore, the introduction of swarm robotics is opening new opportunities for industry. It is a new approach to coordinating multi-robotic systems through swarm intelligence." Active Tech Companies in the markets today include Jeffs' Brands Ltd (NASDAQ: JFBR), Serve Robotics Inc. (NASDAQ: SERV), Symbotic Inc. (NASDAQ: SYM), Microbot Medical Inc. (NASDAQ: MBOT), Medtronic plc (NYSE: MDT).
Grand View Research continued: "Swarm robotics finishes the task faster and identifies pathology with higher efficiency. Growing adoption of AR/VR, AI, and IoT along with the introduction of a 5G network is further expected to boost industry growth over the forecast period since these technologies along with a strong network are expected to enhance the experience of remote patient monitoring and improve the workflow process across the medical sector. These robotics services are used to provide a higher level of patient care by providing patient-centric, customized, frequent, and/or constant monitoring for patients dealing with debilitating health conditions and chronic diseases, introducing intelligent therapeutics, and also providing social engagement to elderly patients. Supportive government initiatives to establish medical facilities in remote areas through telepresence-based robotic systems are fueling the industry's growth. The medical service robots market in North America is anticipated to register at the fastest CAGR during the forecast period. The presence of key players, along with favorable government initiatives for the adoption of robotic technologies in healthcare, is a key factor boosting the region's growth."
Jeffs' Brands Ltd (NASDAQ:JFBR) and Deliverz.AI Sign a Binding Letter of Intent for a U.S. Joint Venture Involving AI-Powered Fully Autonomous Robots - Jeffs' Brands enters service robotics market, expected to reach $84.8 billion by 2028 according to MarketsandMarkets, through this new joint venture – Jeffs' Brands Ltd ("Jeffs' Brands" or the "Company") (Nasdaq: JFBR, JFBRW), a data-driven e-commerce company operating on the Amazon Marketplace, has entered into a binding Letter of Intent ("LOI") with Deliverz.AI Ltd. ("Deliverz.AI"), a company focused on artificial intelligence ("AI") powered fully autonomous multi-purpose robotic platforms, as previously announced on November 27, 2024. The LOI, entered into on November 27, 2024, outlines a plan to establish a joint venture ("JV") to operate exclusively in the United States, combining the strengths of both companies to introduce AI-powered fully autonomous robotic solutions for healthcare logistics in the United States.
Deliverz.AI specializes in autonomous navigation platforms that streamline logistics operations. Their flagship robot, Polly, is already in use at Israel's Sheba Medical Center, ranked by Newsweek magazine as the 9th best hospital in the world, where it autonomously delivers chemotherapy drugs across complex hospital environments. The company's AI-powered platforms are designed for seamless indoor and outdoor navigation, optimizing workflows in healthcare, smart cities, and Industry 4.0 applications.
The service robotics market is projected to reach $84.8 billion by 2028 growing from $41.5 billion in 2023, according to MarketsandMarkets . The growing adoption of robots for new applications, the surging use of Interest of Things (IoT) in robots for cost effective predictive medicine and the increasing use of disinfection robots in hospitals are factors driving the growth of this market per MarketsandMarkets .
Pursuant to the LOI, Deliverz.AI will provide the license for its proprietary robotics technology and operational software to the JV in consideration of a 50% equity stake in the JV, while Jeffs' Brands will invest $1 million for a 50% equity stake in the JV. The investment will be paid according to a phased schedule: $100,000 upon the signing of the definitive agreement establishing the JV, $100,000 when the JV secures its first U.S. pilot project, and the remaining $800,000 will be paid in installments until the end of 2025, based on budgets to be agreed upon in the definitive agreement.
The JV will aim to partner with U.S. medical centers, deploying robotics solutions to improve logistics efficiency and enhance healthcare delivery. Both companies are committed to finalizing definitive agreements within 30 days, which will include customary closing conditions, compliance with any regulatory approvals and subject to satisfactory due diligence to be completed by each party. In the event that the results of the due diligence are not satisfactory to one of the parties, the LOI will terminate. There is no guarantee when or if the JV will be established or if the JV will be successful. Read this full release and more news for Jeffs' Brands by visiting: https://www.financialnewsmedia.com/news-jfbr/
Other recent developments in the technology industry include:
Serve Robotics Inc. (NASDAQ: SERV), a leading autonomous robotic delivery company, recently announced its agreement to acquire the assets of Vebu Inc. ("Vebu"), a trailblazer in full-stack automation and robotics solutions for restaurant partners. Financial terms of the all-stock transaction were not disclosed.
The acquisition strengthens Serve's strategic positioning by providing its restaurant partners with a suite of automation solutions and expanding Serve's offering beyond delivery into back of house automation. Vebu will help Serve become a more integral partner to restaurants, accelerating partner adoption as Serve expands its geographic footprint in new cities across the U.S.
Symbotic Inc. (NASDAQ: SYM) recently announced financial results for its fourth fiscal quarter and fiscal year ended September 28, 2024. Symbotic posted revenue of $577 million, net income of $28 million and adjusted EBITDA of $55 million for the fourth quarter of fiscal 2024. In the same quarter of fiscal 2023, Symbotic had revenue of $392 million, a net loss of $45 million and adjusted EBITDA of $13 million. Cash, cash equivalents and marketable securities on hand decreased by $143 million from the prior quarter to $727 million at the end of the fourth quarter.
For the full fiscal year 2024, Symbotic reported revenue of $1,822 million, reflecting 55% growth year over year, a net loss of $51 million, and adjusted EBITDA of $96 million.
"I'm pleased with our performance this year, as our focus on innovation and customer success has delivered robust growth. This year's results, driven by the hard work and dedication of our team, underscore the strength of our long-term strategy and commitment to driving sustainable, long-term growth for our customers, shareholders, and employees," said Rick Cohen, Chairman and Chief Executive Officer of Symbotic. "We look forward to building on this momentum and continuing to deliver exceptional results and value for our stakeholders in the year ahead."
Microbot Medical Inc. (NASDAQ: MBOT ), developer of the innovative LIBERTY ® Endovascular Robotic Surgical System, recently announced that it has successfully completed enrollment and follow up for all patients in its ACCESS-PVI human clinical trial. The Company remains on track to file its 510(k) submission with the U.S. Food and Drug Administration (FDA) by of the end of 2024.
The Company also announced that it is accelerating its go-to-market strategy. It expects to begin building out the commercial infrastructure, including the hiring of a seasoned healthcare executive to lead its sales efforts, upon the FDA clearance, which is expected during 2Q 2025.
"We are very pleased with the performance of LIBERTY ® throughout the study," commented Juan Diaz-Cartelle, MD, Chief Medical Officer. "We want to thank all our investigators for their enthusiastic commitment to the trial. We expect to share the results of the clinical trial with the medical community and the public at a conference in early 2025."
Medtronic plc (NYSE: MDT), a global leader in healthcare technology, recently announced U.S. Food and Drug Administration (FDA) clearance for its new InPen™ app featuring missed meal dose detection, paving the way for the launch of its Smart MDI system with the Simplera™ continuous glucose monitor (CGM). The company's Smart MDI system combines its InPen™ smart insulin pen with its newest Simplera™ CGM — the company's first disposable, all-in-one CGM that's half the size of previous Medtronic CGMs.
With this clearance, the system will be the first in the market to recommend corrections for missed or inaccurate insulin doses, providing real-time, personalized insights for individuals on multiple daily injection (MDI) therapy.
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DISCLAIMER: FN Media Group LLC (FNM), which owns and operates FinancialNewsMedia.com and MarketNewsUpdates.com, is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated forty six hundred dollars for news coverage of the current press releases issued by Jeffs' Brands Ltd by the Company. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE.
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By Ken Washington, Chief Technology and Innovation Officer, and Raman Venkatesh, Chief Sustainability Officer, Medtronic
When you think about healthcare technology, you may imagine the pacemaker assisting your dad's ailing heart, the sutures your child received after a bike accident, or the pulse oximeter placed on your finger during your annual physical exam. You probably don't think about the energy or resources required to manufacture those products, nor the resulting emissions and waste.
Most discussions about healthcare are, understandably and rightfully, centered on its ability to restore health and save lives; rarely do we talk about its environmental impact. Yet, the healthcare sector is responsible for approximately 4.6% of global greenhouse gas emissions-the equivalent of 514 coal-fired power plants annually, with medical devices and technology among the drivers. And in the U.S., healthcare is the second largest contributor to landfill waste.
It's time to get real about the reality that human health is linked to the health of the planet. We can't be committed to one without also being committed to the other.
The same force that revolutionizes patient care holds the key to creating a more sustainable industry: innovation. Both of us have seen how approaching innovation, with a deliberate focus on sustainability, is better for people, the planet, and profits. Consider the automotive industry where many innovations have made electric vehicles more enjoyable to own and drive, while also providing a cleaner transportation solution. And healthcare, where virtual visits that arose as a necessity during the pandemic, are showing a positive impact on the environment, while also making care more convenient and accessible.
So, how else can health tech make health better for you and the planet? Here are three not-so-simple ways:
Recognize good things take time
We know developing new healthcare technology requires patience and a substantial initial investment before we see long-term success. We need to apply this same mindset to sustainable technology.
Some companies stick with existing solutions because new sustainable technologies are expensive or aren't ready for wide-scale adoption. That's why pilot projects are crucial stepping stones to broader implementation by giving sustainable technology the time it needs to mature and prove its effectiveness. Successful pilot projects often inspire a scalable roadmap for long-term cost efficiency.
At the same time, we need to balance short-term financial pressures with long-term environmental goals. That means adopting a future-oriented view, recognizing today's technology will only get better and become more accessible and affordable over time.
For example, innovations in solar panels over the past decade have made them significantly more cost-effective as a sustainable energy source. This has allowed Medtronic to install 22 solar arrays across 16 locations, generating more than 35 MWs of power-enough to power more than 22,000 homes. And we recently signed a virtual power purchase agreement which adds renewable energy at a scale equivalent to nearly all our U.S. energy needs.
Companies that make these strategic investments today, with the same patience and investment they apply to product development, are setting themselves up for greater growth and profits down the line.
Reimagine products and packaging
Sustainable product and packaging design are some of our industry's most complex challenges due to strict regulatory requirements that restrict circular design solutions.
Companies can begin reducing resource use and waste with takeback programs, recycling product components and transitioning to digital instructions for use. But the goal isn't just to reduce waste-it's to create products that maintain the highest standards of patient care while contributing to a circular economy.
To do that, we need to design products and packaging with their end-of-life journey in mind, whether that's reprocessing, recycling, or biodegradation. It's important to remember there are many ways to reach sustainability goals and although reprocessing is becoming more common practice, sometimes single use devices can be the right option, especially if reprocessing increases risk to patient safety.
It is the conscious actions at the beginning that count a lot-for example, designing for sustainability before the first prototype is even developed. Industry leaders are dedicating R&D teams to spot opportunities for circular solutions within products' lifecycles, like the Sustainability Development Center at Medtronic. (Learn more in our latest Impact Report.)
Recruit partners
No one can solve our industry's environmental challenges alone. It requires collaboration across the healthcare ecosystem.
This starts with our supply chains, given that Scope 3 emissions typically account for over 90% of a healthcare technology company's carbon footprint, including at Medtronic. Engaging suppliers, logistic partners, employees and customers will not only help address emissions, but it will also build resilience against future risks that threaten supply chain stability.
We also need to think beyond our own value chain and look to others in the industry, academia, civil society, and government to develop breakthrough solutions and new enabling policies and incentive frameworks. For example, the Dutch government's ESCH-R: Creating Circular Hospitals Together program is helping address critical circularity gaps in healthcare with sponsorship from industry partners (including Medtronic). Collaborative approaches like this are key to building the infrastructure, developing the technologies, and creating the standards needed for a collective impact.
The transformation to sustainable healthcare won't happen overnight, but momentum is building, and it will grow because it is good for business and good for the planet. Together, we can create a healthcare technology industry that heals not only people but also the planet we all share.
After all, the healthiest future is one where innovation and sustainability are inseparable.
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SOURCE: Medtronic
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Medtronic
Medtronic releases 2024 Impact Report highlighting success in healthcare equity with new data from the Healthy Neighbor program, in addition to community engagement and environmental sustainability progress
November 20, 2024 /3BL/ - Medtronic plc, a global leader in healthcare technology, has today released its fiscal year 2024 (FY24) Impact Report. The report highlights the company's continued commitment to advancing health equity, increasing representation and inclusion, and reducing its environmental footprint. One of the highlights in this year's report is the early success of the Healthy Neighbor program, a transformative initiative addressing health inequities in chronic disease care.
Established in collaboration with Virtua Health, a 15,000-person academic health system, Healthy Neighbor extends access to integrated clinical and social care for hypertension and diabetes management within Camden, New Jersey. Launched in 2023, Healthy Neighbor trained a team of dedicated community health workers and a registered nurse to provide tailored support, combining SPICE, the Medtronic LABS open-source digital health platform, with social resource navigation.
Early results1 show that 71% of enrolled patients with high blood pressure and 63% of patients with previously uncontrolled diabetes achieved meaningful progress in blood pressure and blood glucose control.
"We are incredibly proud of the Healthy Neighbor program," said Geoff Martha, Medtronic chairman and CEO. "Our partnership with Virtua Health underscores our belief that to drive true impact, healthcare must be accessible, localized, and powered by technology and partnerships. We aim to develop a replicable model for community-based care that can improve outcomes for millions across the world."
The Medtronic 2024 Impact Report reveals broader commitments to patients, people, and planet. Key FY24 accomplishments include:
Patients - Putting patients first:
Medtronic places patient centricity at the forefront of its Mission through clinical research and targeted programs. In FY24, the company:
Shared data from the 87% women-enrolled global SMART Trial, led by Dr. Roxana Mehran and Dr. Howard Herrmann. Women are commonly under-represented in clinical trials. This trial addresses gender disparities in heart disease detection and treatment, setting a new standard for inclusive healthcare research.
Achieved a 33% reduction in product complaint rate for key product families. Complaint rates are an important indicator of patient experience and product quality. The company exceeded its 10% reduction target in aggregate product complaints by FY25 for key product families.
Invested $2.7 billion in research and development directed toward pioneering medical innovations for millions globally.
Supported over 550,000 healthcare professionals with over $121 million invested in medical education, participation in Medtronic Academy, in-person events at training centers, and Medtronic Mobile Labs.
Improved healthcare access for more than 78 million patients through increased access initiatives, putting the company on track to reach its target of 79 million patients annually by FY25.
Flowed 20.7% of revenue from products and therapies released in the prior 36 months (vitality index), exceeding its goal of 20% by FY25.
People - Striving for zero barriers:
Medtronic strives for zero barriers to health, opportunity, and well-being for its employees and the communities it serves. In FY24, the company:
Visited Alabama A&M University, a historically Black college, with the Medtronic Mobile Lab, offering students hands-on experience with cutting-edge technology and supporting diversity in science and engineering.
Reached 51% womenin Medtronic's global workforce, and 41% U.S. employees from diverse backgrounds. The company is on track to achieve 45% women in manager-and-above roles globally (currently at 44%) and 30% representation of ethnically diverse groups in manager-and-above roles in the U.S. (currently at 28%) by FY26.
Drove positive health outcomes for populations outside of the reach of its product portfolio by impacting 166,400 lives through Medtronic LABS.
Planet - Reducing impact for a healthier planet:
Medtronic is committed to reducing its environmental impact through science-based targets, focusing on emissions reduction and sustainable practices. In FY24, the company:
Secured energy expected to meet 50% of its electricity needs across its five Irish sites, reinforcing Medtronic's commitment to a healthier planet through a recent Power Purchase Agreement.2
Achieved a 52% reduction in emissionsintensity compared to FY20, surpassing its FY25 target of a 50% reduction in greenhouse gas (GHG) emissions intensity.
Met 42% of operational energy needswith renewables and are on track to achieve its target of sourcing 50% of energy from renewable and alternative sources by FY25.
Reduced operational waste by 19% and water use intensity by 28% since FY20. The company is also 90% of the way to achieving its goal to reduce packaging waste by 25% for four targeted, high-volume product families compared to FY21.
The Medtronic 2024 Impact Report reflects the company's key environmental, social, and governance (ESG) topics in alignment with leading reporting frameworks and standards, including the Global Sustainability Standards Board's (GSSB) Global Reporting Initiative (GRI); the International Sustainability Standards Board's (ISSB) Sustainability Accounting Standards Board (SASB) Standards; the Financial Stability Board's (FSB) Task Force on Climate-related Financial Disclosures (TCFD); and the World Economic Forum's (WEF) Stakeholder Capitalism Metrics.
View the full report here.
About Medtronic
Bold thinking. Bolder actions. We are Medtronic. Medtronic plc, headquartered in Galway, Ireland, is the leading global healthcare technology company that boldly attacks the most challenging health problems facing humanity by searching out and finding solutions. Our Mission - to alleviate pain, restore health, and extend life - unites a global team of 95,000+ passionate people across more than 150 countries. Our technologies and therapies treat 70 health conditions and include cardiac devices, surgical robotics, insulin pumps, surgical tools, patient monitoring systems, and more. Powered by our diverse knowledge, insatiable curiosity, and desire to help all those who need it, we deliver innovative technologies that transform the lives of two people every second, every hour, every day. Expect more from us as we empower insight-driven care, experiences that put people first, and better outcomes for our world. In everything we do, we are engineering the extraordinary. For more information on Medtronic, visit www.Medtronic.com and follow on LinkedIn.
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.
Contacts:
Erika Winkels
Public Relations
+1-763-526-8478
Ryan Weispfenning
Investor Relations
+1-763-505-4626
Editor notes
1. Outcomes are within a cohort of patients enrolled in Healthy Neighbor between August 1, 2023, and August 26, 2024, who had both a baseline and follow-up reading. A significant improvement in blood pressure is defined as achieving blood pressure control (
2. FY45 Decarbonization Roadmap: Recognizing the risks that climate change poses to human health and long-term global financial stability, Medtronic has set an ambition to achieve net-zero emissions across Scope 1, 2, and 3 by FY45. To achieve our ambition, we will pursue setting targets through the Science-Based Targets initiative (SBTi), a multiyear process which provides companies with a clearly defined path to reduce GHG emissions in line with the Paris Agreement. Signed by 191 countries, plus the European Union, the Paris Agreement aspires to limit global warming to 1.5 degrees Celsius compared to pre-industrial levels.
2024 Impact Report Cover Page
View additional multimedia and more ESG storytelling from Medtronic on 3blmedia.com.
Contact Info:
Spokesperson: Medtronic
Website: https://www.3blmedia.com/profiles/medtronic
Email: info@3blmedia.com
SOURCE: Medtronic
News Provided by ACCESSWIRE via QuoteMedia