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].

Core Viewpoint - The successful implantation of the first zero-contrast, extremely low-dose radiation leadless pacemaker in a pregnant patient in China demonstrates advancements in medical technology that prioritize the health of both the mother and fetus [1][2]. Group 1: Medical Procedure - The patient, Ms. Li, was diagnosed with intermittent third-degree atrioventricular block, experiencing heart pauses of up to 5.2 seconds, necessitating pacemaker treatment to ensure safety for both her and the fetus [1]. - The procedure was conducted using a novel approach involving trans-thoracic ultrasound guidance, zero contrast, and extremely low radiation, which significantly reduced the risks associated with traditional methods [2]. Group 2: Technical Details - Traditional leadless pacemaker implantation typically requires an average X-ray fluoroscopy time of about 15 minutes and radiation exposure of 250 mGy, whereas this procedure achieved a fluoroscopy time of only 1.5 minutes and radiation exposure of just 4 mGy [2]. - The use of double-layer lead aprons during the procedure provided additional protection for the patient's abdomen, further ensuring the safety of the fetus [2]. Group 3: Implications for Future Procedures - This innovative technique offers valuable insights for special populations, including patients with contrast agent allergies, renal insufficiency, and children, expanding the applicability of leadless pacemaker implantation [2].