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Medtronic (MDT) Launches New Venture to Treat Kidney Failure
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Medtronic plc (MDT - Free Report) , along with DaVita (DVA) recently announced the launch of new independent company -- Mozarc Medical. The new venture is dedicated to reshaping kidney health and driving patient-centered technology solutions.
With demonstrated industry leadership, a strong product portfolio and R&D pipeline, and strategic investment from Medtronic and DaVita, Mozarc Medical is well-positioned for long-term success.
More on the News
Announced nearly a year ago, the company is co-owned by Medtronic and DaVita, each with equal equity stakes and will be led by an independent management team. Per management, at a time when patient preferences are evolving and in-home kidney care is on the rise, Mozarc will be overseen by a six-person board of directors, comprising two selected from each company and two independent directors.
Image Source: Zacks Investment Research
The creation of Mozarc Medical is its global workforce, which includes the former Medtronic Renal Care Solutions business (now part of Mozarc Medical) and other industry-leading talent hired to advance the new company's strategic mission.
Strategic Implications
Mozarc Medical will focus on meaningful and advanced kidney health technologies that enhance the overall patient experience and increase access to care globally. Mozarc Medical is uniquely positioned to serve patients with kidney disease in a better way worldwide.
The launch of Mozarc Medical holds incredible potential to enhance the lives of patients living with kidney disease as it pursues to transform the approach to home dialysis by improving accessibility, ease of use and clinical performance. Per management, investment in this venture is an effort of decades-long commitment to advancing kidney care.
Industry Prospects
Going by the Insight Partners report published in Cision, the global kidney disease market is expected to reach $133.4 billion by 2027 from $81.1 billion in 2019. The market is estimated to witness a CAGR of 6.5% from 2020 to 2027.
Recent Developments
Last month, Medtronic announced Cosmo Pharmaceuticals’ strategy to integrate NVIDIA's AI technologies into Medtronic’s GI Genius intelligent endoscopy module. Medtronic’s latest partnership with NVIDIA and Cosmo Pharmaceuticals provides the GI Genius AI Access platform intended to boost AI innovation for healthcare.
The same month, Medtronic announced the receipt of a CE Mark for the Affera Mapping and Ablation System to treat atrial arrhythmias, which included the Sphere-9 Catheter and the Affera Prism-1 Mapping Software. The Affera Mapping and Ablation System will be commercially available in Europe and is investigational in the United States in the first half of 2023.
Price Performance
Shares of the company have lost 27.4% in the past one year compared with the industry’s fall of 38.5%.
Zacks Rank and Key Picks
Currently, Medtronic carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Hologic, Inc. (HOLX - Free Report) , Henry Schein, Inc. (HSIC - Free Report) and Avanos Medical, Inc. (AVNS - Free Report) .
Hologic, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 15.2%. HOLX’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 30.6%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Hologic has gained 1.7% compared with the industry’s 17.5% growth in the past year.
Henry Schein, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 8.1%. HSIC’s earnings surpassed estimates in three of the trailing four quarters and matched once, the average beat being 2.9%.
Henry Schein has lost 12.4% compared with the industry’s 10.9% decline in the past year.
Avanos, carrying a Zacks Rank #2 at present, has an estimated growth rate of 1.8% for 2023. AVNS’ earnings surpassed estimates in all the trailing four quarters, the average beat being 11%.
Avanos has lost 13.7% compared with the industry’s 17.5% decline in the past year.
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Medtronic (MDT) Launches New Venture to Treat Kidney Failure
Medtronic plc (MDT - Free Report) , along with DaVita (DVA) recently announced the launch of new independent company -- Mozarc Medical. The new venture is dedicated to reshaping kidney health and driving patient-centered technology solutions.
With demonstrated industry leadership, a strong product portfolio and R&D pipeline, and strategic investment from Medtronic and DaVita, Mozarc Medical is well-positioned for long-term success.
More on the News
Announced nearly a year ago, the company is co-owned by Medtronic and DaVita, each with equal equity stakes and will be led by an independent management team. Per management, at a time when patient preferences are evolving and in-home kidney care is on the rise, Mozarc will be overseen by a six-person board of directors, comprising two selected from each company and two independent directors.
The creation of Mozarc Medical is its global workforce, which includes the former Medtronic Renal Care Solutions business (now part of Mozarc Medical) and other industry-leading talent hired to advance the new company's strategic mission.
Strategic Implications
Mozarc Medical will focus on meaningful and advanced kidney health technologies that enhance the overall patient experience and increase access to care globally. Mozarc Medical is uniquely positioned to serve patients with kidney disease in a better way worldwide.
The launch of Mozarc Medical holds incredible potential to enhance the lives of patients living with kidney disease as it pursues to transform the approach to home dialysis by improving accessibility, ease of use and clinical performance. Per management, investment in this venture is an effort of decades-long commitment to advancing kidney care.
Industry Prospects
Going by the Insight Partners report published in Cision, the global kidney disease market is expected to reach $133.4 billion by 2027 from $81.1 billion in 2019. The market is estimated to witness a CAGR of 6.5% from 2020 to 2027.
Recent Developments
Last month, Medtronic announced Cosmo Pharmaceuticals’ strategy to integrate NVIDIA's AI technologies into Medtronic’s GI Genius intelligent endoscopy module. Medtronic’s latest partnership with NVIDIA and Cosmo Pharmaceuticals provides the GI Genius AI Access platform intended to boost AI innovation for healthcare.
The same month, Medtronic announced the receipt of a CE Mark for the Affera Mapping and Ablation System to treat atrial arrhythmias, which included the Sphere-9 Catheter and the Affera Prism-1 Mapping Software. The Affera Mapping and Ablation System will be commercially available in Europe and is investigational in the United States in the first half of 2023.
Price Performance
Shares of the company have lost 27.4% in the past one year compared with the industry’s fall of 38.5%.
Zacks Rank and Key Picks
Currently, Medtronic carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Hologic, Inc. (HOLX - Free Report) , Henry Schein, Inc. (HSIC - Free Report) and Avanos Medical, Inc. (AVNS - Free Report) .
Hologic, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 15.2%. HOLX’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 30.6%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Hologic has gained 1.7% compared with the industry’s 17.5% growth in the past year.
Henry Schein, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 8.1%. HSIC’s earnings surpassed estimates in three of the trailing four quarters and matched once, the average beat being 2.9%.
Henry Schein has lost 12.4% compared with the industry’s 10.9% decline in the past year.
Avanos, carrying a Zacks Rank #2 at present, has an estimated growth rate of 1.8% for 2023. AVNS’ earnings surpassed estimates in all the trailing four quarters, the average beat being 11%.
Avanos has lost 13.7% compared with the industry’s 17.5% decline in the past year.