Medtronic announces intention to separate its combined patient monitoring and respiratory interventions businesses

Separation of the combined patient monitoring and respiratory interventions businesses ("newco") expected to better position both newco and medtronic for long-term success and value creation enhances both medtronic and newco's strategic and operational focus on meeting the needs of their respective patients, physicians, customers, and other stakeholders advances the medtronic portfolio management and capital allocation strategies focused on higher growth markets and revenue acceleration pursuing newco separation via a distribution that is expected to be tax-free to medtronic shareholders for u.s. federal income tax purposes or other alternatives dublin , oct. 24, 2022 /prnewswire/ -- medtronic plc (nyse:mdt), a global leader in healthcare technology, today announced its intention to pursue a separation of the company's combined patient monitoring and respiratory interventions businesses ("newco"), which are part of the company's medical surgical portfolio. "we are executing on our portfolio management strategy, taking action to create value for medtronic and our shareholders.
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