Core Viewpoint - The article discusses the challenges faced by Medtronic, including stagnation in growth, innovation fatigue, and pressure from activist investors, while exploring the potential for restructuring or revitalization [2][4]. Group 1: Activist Investor Involvement - Elliott Investment Management has entered Medtronic's shareholder list, advocating for a reassessment of the business portfolio and a focus on core assets to enhance shareholder returns [6][7]. - The entry of Elliott reflects a broader trend where undervalued large companies are pressured to divest non-core assets and improve capital efficiency [7][8]. - Medtronic's valuation disadvantage compared to peers indicates investor concerns regarding its management structure and innovation efficiency [8][9]. Group 2: Growth and Innovation Challenges - Medtronic's issues are traced back to the 2015 acquisition of Covidien, which has led to integration difficulties and cultural clashes [10][11]. - Financially, Medtronic reported approximately $32.3 billion in revenue for FY2024, with a net profit of about $5.1 billion, but its growth rate of 3% is below industry peers [11][12]. - The company's R&D spending of $2.6 billion represents only 8.1% of revenue, lower than competitors, indicating a slowdown in innovation output [14][15]. Group 3: Investor Perspective - Investors view Medtronic as a "sleeping giant," with stable financials but lacking growth appeal, as evidenced by a total shareholder return of less than 4% over the past five years [15][16]. - There is a demand for not just cost optimization but also significant innovation to change the valuation narrative [16][19]. Group 4: CEO's Response - CEO Geoff Martha asserts that Medtronic is in an "Innovation Super Cycle," with significant new products expected to launch between 2025 and 2027 [16][20]. - Martha emphasizes that the company's focus is on portfolio reshaping to enhance innovation rather than breaking up the company [19][20]. - The management is undergoing a dual reboot of structure and personnel to improve decision-making speed and execution [22][23]. Group 5: Future Directions - Medtronic aims to focus on financial recovery through divesting low-margin businesses and simplifying its organizational structure [23][24]. - The company is also working on bringing high-tech platforms to market, although the timeline for significant sales remains extended [24][25]. - The shift in focus from expansion to innovation reflects a recalibration towards core technological strengths, with the challenge of balancing innovation delivery and capital returns [25].

患者入院后，蒋廷波再次组织心内科邹操主任电生理团队进行详细讨论、制定手术方案。邹操作为全国 首批无射线电生理术者，在腔内超声技术方面有着丰富经验，他提议术中尝试全程经胸超声指导、零造 影剂、极低射线，并和心内科超声团队主任医师赵彩明探讨后，确认方案可行。 术中，医疗团队用双层铅衣保护患者腰腹部，在经胸超声指导下，送长鞘及无导线起搏器至右房，顺利 跨过三尖瓣环至右室间隔面，超声多切面确认定位后释放，在极低剂量x线下牵拉，程控参数满意。术 后第二日患者就下床活动了；半月后随访，起搏参数稳定，患者症状改善。 相关工作人员表示，常规无导线起搏器植入过程需要使用造影剂，平均x线透视时间约15分钟、射线量 达250mGy，而本次手术透视时间仅一分半钟、射线量仅4mGy，且零造影剂，很好保护了孕妇和胎儿， 这项技术也为一些特殊人群，比如造影剂过敏、肾功能不全、儿童等患者无导线起搏器植入提供了宝贵 经验。 新京报讯（记者左琳）5月19日，新京报记者从苏州大学附属第一医院获悉，该院心血管内科电生理团 队成功为一名孕妇患者完成了全国首例零造影剂经胸超声指导下极低剂量射线无导线起搏器植入，保护 了孕妇和胎儿的健康。 相关工作人员介 ...