Medical devicemaker Medtronic has had a busy year filled with tech innovation, leadership appointments and restructuring efforts.
Here are 19 updates from the company in 2024:
1. Medtronic received FDA approval for its deep brain stimulation system.
2. Medtronic partnered with Hall of Fame Health to expand access to spine and neurological care.
3. Medtronic appointed Raman Venkatesh as the company's first chief sustainability officer.
4. On Feb. 20, Medtronic posted $8.1 billion in sales for the third quarter of fiscal year 2024.
5. An appeal board for the European Patent Office revoked a pain management system patent belonging to California-based medical device company Nevro following a challenge from Medtronic and Boston Scientific.
6. Medtronic was named among the world's most ethical companies by for-profit ethical standards company the Ethisphere Institute.
7. Medtronic launched the UNiD ePro service in the U.S. to provide an electronic Patient Reported Outcomes system for spine surgeons.
8. Yarmela Pavlovic was appointed chief regulatory officer of Medtronic.
9. Medtronic earned FDA approval for its Inceptiv closed-loop spinal cord stimulator, the company said April 26.
10. Medtronic continued to lay off more staff as part of ongoing restructuring efforts. The company initially laid off 44 employees with its Carlsbad, Calif., facility in May. The company later shared plans to close five manufacturing plants by the end of April, but it is unclear how many jobs were affected by those closures.
11. Medtronic in the fourth quarter of fiscal year 2024 saw $8.6 billion in revenue along with a net income of $654 million.
12. Medtronic Neurosurgery issued a Class I recall affecting 45,176 Duet external drainage and monitoring system catheter tubing following 26 reported injuries. A Class I recall was also issued for Medtronic's StealthStation System with StealthStation Cranial software.
13. Karen Parkhill resigned as the company's CFO in August to assume the same position at HP.
14. Medtronic posted $7.9 billion in sales for the first quarter of fiscal year 2025.
15. Medtronic plans to open a new hub in Boston, one of the world’s largest hubs for biotechnology in the world.
16. James Porter, MD, was appointed chief medical officer of robotic surgical technologies and digital technologies within Medtronic's surgical business.
17. California-based medical device company Axonics won a $150 million patent infringement lawsuit against Medtronic.
18. Medtronic partnered with Siemens Healthineers to co-market the Siemens Healthineers Multitom Rax imaging system
19. Medtronic saw $8.4 billion in revenue with gains in its neuroscience portfolio during the second quarter of fiscal year 2025.