Medtronic Recalls Certain Heart Failure Devices Citing Risk Of Low, No Energy Output During High Voltage Therapy
Portfolio Pulse from Vandana Singh
Medtronic Plc (NYSE:MDT) has recalled certain implantable cardioverter defibrillators (ICDs) and cardiac resynchronization therapy defibrillators (CRT-Ds) due to a risk of low or no energy output during high voltage therapy. The FDA has classified this as a Class I recall, the most serious type. The recall impacts around 350k devices manufactured after 2017. Medtronic has reported 28 incidents and 22 injuries related to this issue. MDT shares are down 0.95% at $85.89.
July 18, 2023 | 4:44 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Medtronic's recall of certain heart failure devices could negatively impact the company's reputation and financial performance. The stock price has already seen a slight decrease.
The recall of a significant number of devices due to a serious issue could lead to financial losses for Medtronic, both from the recall process itself and potential lawsuits. Additionally, this could damage the company's reputation, potentially leading to a decrease in future sales. The stock price has already seen a slight decrease, indicating that the market is reacting to this news.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100