Medtronic to Spin Off Physio

2/22/11

Minneapolis, MN-based Medtronic (NYSE: MDT), the medical device giant, said today it is reviving plans to spin off the Physio-Control unit in Redmond, WA as an independent company. Physio-Control, which makes heart defibrillators that treat sudden cardiac arrest, has been dogged by manufacturing problems for years, although it was given clearance by the FDA to resume unrestricted sales last February, as noted today by The Seattle Times. Physio-Control has lately been moving in a more aggressive direction, striking a deal to add technology from San Diego-based BeneChill and through more investment in its telemedicine infrastructure. Physio-Control had about 1,100 employees as of a year ago, with about three-fourths of them in Redmond, the Times said.

By posting a comment, you agree to our terms and conditions.