Medtronic sees 5x ramp in ventilator production to meet COVID-19 demand

Medtronic (NYSE:MDT) announces that its Puritan Bennett 560 ventilator will be available next month in the U.S. under emergency use authorization from the FDA (it is currently sold in 35 countries around the world at an average price of just under $10K).

By month-end, it expects to be producing 400 ventilators per week (four models), increasing to 700/week by the end of May and 1,000/week by the end of June, a five-fold increase compared to pre-COVID-19 levels. It projects that it will produce 25K ventilators across all platforms over the next six months.

A remote access feature for another ventilator model, the PB980, enabling clinicians to adjust the settings outside of the ICU, is in limited market release in the U.S. in two hospitals. If the feature is well-received, the release will be expanded later this month.

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https://seekingalpha.com/news/3559507-medtronic-sees-5x-ramp-in-ventilator-production-to-meet-covidminus-19-demand