Published: February 20, 2024
Medtronic will be “winding down and exiting its ventilator product line,” according to a February 20 company announcement.
The company says it will discontinue its Puritan Bennett ventilator series, including the Puritan Bennett 980, Puritan Bennett 840, and Puritan Bennett 560. However, it will continue to sell some ventilators, on a limited basis, while quantities last.
Medtronic says the decision to discontinue is “related to the market preference shift to lower acuity ventilators” and not the result of product quality concerns.
The move is part of a strategy to consolidate its remaining patient monitoring and respiratory interventions (PMRI) businesses and exit the “increasingly unprofitable ventilator product line,” according to the company’s FY24 Q3 financial results statement.
“We are incredibly proud of the rich legacy of the Puritan Bennett ventilators that have positively impacted patients over the years as well as the role our ventilation products and employees played in the COVID-19 pandemic response,” the company said in an announcement.
Medtronic says it will honor service and support contract obligations for our ventilation customers worldwide throughout the ventilator life cycle.
“We expect that existing manufacturers … can meet customer demand for new ventilators moving forward. However, we understand the impact this decision may have and are committed to partnering closely with you throughout this process,” the company said.
Medtronic’s decision to discontinue its ventilator product line comes less than a month after Philips Respironics announced it would discontinue its hospital and home ventilator products, including the Trilogy and V60 ventilators.
Consolidating PMRI into “Acute Care and Monitoring”
In addition to jettisoning its ventilator line, Medtronic will “retain and combine the remaining [Patient Monitoring and Respiratory Interventions] businesses into one business unit called Acute Care and Monitoring (ACM),” it says.
The new strategy backtracks on plans announced in 2022 for Medtronic to spin off its patient monitoring and respiratory interventions business into a separate entity called “NewCo.”
“Exiting the increasingly unprofitable ventilator product line and combining the remaining businesses allows for increased investment in ACM with a focus on profitable growth. Given this increased investment along with an improved competitive landscape, the company has strong conviction in driving durable category leadership in this newly combined business.” the company says.
