
Jan 12 (Reuters) - Medtronic has "significant firepower" to pursue acquisitions as the medical device maker evaluates opportunities to expand its portfolio, executives said at a major industry conference that kicked off on Monday in San Francisco.
The medical device maker has been eyeing tuck-in deals as it seeks to diversify its portfolio, particularly in cardiology and neuroscience, with CEO Geoff Martha in November saying that they would prefer companies in "early stage or close to market."
The company's balance sheet gives it flexibility to execute a "meaningful number" of transactions without financial strain, Chief Financial Officer Thierry Piéton said at the J.P. Morgan healthcare conference on Monday.
"What's changing versus the last few years is coming back to doing more M&A," he said, adding that Medtronic's dividend policy remains unchanged.
Medtronic, which makes devices ranging from pacemakers to insulin pumps, reported a 3.7% rise in revenue to $33.6 billion in fiscal 2025.
The company is targeting deals in the low- to mid-single-digit billions of dollars, choosing targets that will supplement its internal R&D efforts, Martha said on Monday. The company has set up a new committee at the board level to move faster on deals, he added.
The executives said Medtronic is focused on two themes, expanding in areas where it already competes and acquiring enabling technologies for procedures such as cardiac ablation and surgical robotics.
The company has spent recent years improving operations by divesting non-core units and plans to spin off its diabetes business as MiniMed Group through a U.S. initial public offering following its struggles over the last few years.
It also added two new directors to its board last year after activist investor Elliott Investment Management emerged as one of its largest shareholders.
Medtronic now sees itself positioned to pursue strategic opportunities.
"We've earned the right to do these acquisition, and we've got the capacity, so we're going to step up," Piéton said.
(Reporting by Kamal Choudhury in Bengaluru; Editing by Alan Barona and Leroy Leo)
LATEST POSTS
- 1
NASA to bring astronauts home from space station early due to a medical issue - 2
Uncover the Manageable Fish Practices: Sea agreeable Feasting - 3
Extraordinary Shows to Long distance race on a Plane - 4
Instructions to Figure out the Various Phases of Cellular breakdown in the lungs - 5
Turning into a Sharp Financial backer: Individual budget Wins
Hundreds rally in West Bank against Israeli death penalty for Palestinians
In blow to Lula, Brazil Congress revives controversial environmental bill
Optimal Beauty Parlor Medicines for Upgraded Wellbeing and Appearance
Flu concerns grow in US as UK sees more cases among kids
ONE returns to Red Sea with new service
Countdown to Artemis II: What to know about NASA's moon mission
Mussolini's summer villa on Adriatic coast sold for €1.2 million
The most effective method to Augment Benefits in Gold Speculation: Systems and Tips
Kenmore East reacts to their best overall delegation award at WNY Model United Nations General Assembly competition












