蓝帆医疗（002382）公告，公司心脑血管事业部旗下子公司德国NVT GmbH研发的新一代可回收经导 管主动脉瓣置换术(TAVR)输送系统IMPERIA 获得欧盟CE认证。 ...

思宇年度活动回顾： 首届全球眼科大会 | 首届全球骨科大会 | 首届全球心血管大会 | 首届全球医美科技大会 近日 ， 美敦力 Medtronic 宣布 任命 Joon Lee 博士为公司董事会新任独立董事 ，任命自2025年6月18日起 生效。 # 关于 Joon Lee 博士 2025年7月17日，第二届全球医疗科技大会 2025年9月3-5日，第三届全球手术机器人大会 Lee博士 在医疗政策、医院运营和医患关系创新方面有显著贡献，曾参与美国医疗协会和其他行业组织的顾 问工作。目前担任 美国埃默里医疗系统（Emory Healthcare）的首席执行官（CEO） ，这是乔治亚州最大 的学术医疗系统，涵盖11家医院、250个医疗点和超过2,800名医生。以下是Joon Lee博士的重要职业履历： 现任职位 埃默里医疗系统CEO （2021年至今）：领导该系统在医疗服务、研究和教育领域的全面运营，推动其在心血 管、神经科学、癌症治疗和数字化医疗领域的卓越表现。埃默里医疗系统 年收入约56亿美元 ，与美敦力的医 疗技术产品线（如 心脏起搏器、神经调控设备 ）高度相关。负责 整合医疗技术与临床实践，推进远程监护、 ...

June 18, 2025 05:02 PM GMT Medical Technology | North America Off the Beaten Path In this note we flag each week a handful of news drops that we think may have been missed / piqued our interest. [EW, MDT] Real-World Data in EMEA Favoring SAVR vs. TAVR In Younger Patients: A new study in Italy suggests that SAVR may be associated with more favorable mortality outcomes in intermediate surgical risk patients than TAVR, with curves decently below from about 1 year onwards (see below), which in theory is negativ ...

// 今日关注 // 1 、美国将吊销中国学生签证，外交部回应 2 、多家银行 5 年期大额存单下架 3 、欧盟对中国轮胎发起反倾销调查 4 、理想汽车第一季度调整后净利润 10.2 亿元，同比下降 20% 5 、 *ST 锦港：将被实施重大违法强制退市 6 、受特朗普贸易战冲击，美国经济第一季度萎缩 0.2% // 宏观预警 // 美国近日决定将开始吊销中国学生的签证，包括"与中国政府有联系或在关键领域学习"的学 生。外交部发言人毛宁对此表示，美方以意识形态和国家安全为借口，无理取消中国留学生 签证，严重损害中国留学生的合法权益，干扰两国正常人文交流。中方对此坚决反对，已向 美方提出交涉。美方这一政治性、歧视性做法，戳穿了美国一贯标榜的所谓自由开放谎言， 只会进一步损害美国自身国际形象和国家信誉。 // 中国债券预警 // 1 、宁夏远高实业集团：收到上交所纪律处分决定书 1 、美国将吊销中国学生签证，外交部回应 宁夏远高实业集团有限公司公告称，公司收到上海证券交易所纪律处分决定书。因未按时披 露 2024 年中期报告，公司及时任董事长、总经理、信息披露事务负责人兼财务负责人高红 明被通报批评。 2 、南通 ...

美国医疗器械公司波士顿科学公司宣布在全球范围内退出心脏瓣膜业务，称因各国监管审批挑战加剧。 波士顿科学的经导管主动脉瓣置换术(TAVR)心脏瓣膜ACURATE neo2已于去年在中国国内获批。业内人 士表示，波士顿科学公司的TAVR产品未能达到不劣于其他已上市TAVR器械产品的主要目标。波士顿 科学公司表示，满足监管机构审批要求所需资源阻止了公司的进一步投入。随着波士顿科学退出市场， 目前中国国内竞争TAVR市场的主要外资企业仅有爱德华生命科学公司和美敦力；而国内厂商则占据更 大的市场份额。(第一财经) ...

| 思宇年度活动回顾： 首届全球眼科大会 | 首届全球骨科大会 首届全球心血管大会 | | --- | --- | | 即将召开： | | | 2025年6月12日，首届全球医美科技大会 | | | 2025年7月17日，第二届全球医疗科技大会 | | | 2025年9月4-5日，第三届全球手术机器人大会 | | 近日，美敦力（Medtronic, NYSE: MDT）宣布其 两大核心业务部门 ——心血管（Cardiovascular）与颅脑脊柱疗法（Cranial & Spinal Therapies, CST）的人事 调整： 服务公司超过20年的高管Sean Salmon将于2025年9月正式离任，其职位由Skip Kiil接任；同时，Michael Carter升任CST业务负责人 。 这场组织再造，远不止岗位更迭，更是一次聚焦核心、重塑路径、再启增长的系统信号。 # 人事集中调整：内部提拔，匹配落地执行周期 在本轮人事调整中，美敦力完成了对两位核心业务负责人的"平稳交接"： Sean Salmon 自2004年加入美敦力，曾长期负责心血管与糖尿病板块，是Micra无导线起搏器、TAVR系统等项目的重要 ...

At the EuroPCR 2025, Edwards Lifesciences (EW) has announced new economic and clinical evidence on severe aortic stenosis (AS). The results of a new real-world study, comprising more than 24,000 patients, demonstrated that intervening on the disease before symptoms develop reduces the economic and resource burden on the healthcare system and improves patient outcomes.Presented as a late-breaking clinical trial, the data further contributes to the extensive body of research on this disease. The development i ...

Core Insights - Abbott (ABT) and Medtronic (MDT) are showing strong momentum in 2025 despite macroeconomic challenges, including tariff pressures [1] - Both companies have outperformed the S&P 500 in 2025, with Abbott shares increasing by 18.8% and Medtronic by 6.5% [4] Abbott Overview - Abbott achieved high single-digit sales growth and double-digit earnings growth in Q1 2025, driven by innovation and expanded biosimilar agreements [3] - The FreeStyle Libre franchise saw nearly 20% organic growth in Q1 2025, indicating strong demand in managing Type 2 diabetes [5] - Abbott's Established Pharmaceuticals segment posted mid-single-digit organic sales growth, primarily from emerging markets [6] - The company generated $2.3 billion in operating cash flow in Q1 2025 and maintained over $6 billion in cash and short-term investments [7] - Abbott increased its quarterly dividend by 7.8%, marking 52 consecutive years of dividend growth, with a payout ratio of 49% [8][10] Medtronic Overview - Medtronic reported 10.9% earnings growth and 5.4% revenue improvement in fiscal 2025, with significant contributions from cardiovascular, neuromodulation, and diabetes segments [2] - The Cardiac Ablation Solutions business grew nearly 30% in Q4, driven by demand for new technologies [13] - Medtronic returned $6.3 billion to shareholders through share repurchases and dividends, with a 48th consecutive year of dividend increases and a payout ratio of 52% [15] - The upcoming spin-off of the Diabetes business is expected to be EPS-accretive and tax-efficient, aimed at unlocking shareholder value [16] Valuation Comparison - Medtronic is trading at a forward price-to-earnings ratio of 14.41X, below its 5-year median of 16.19X, while Abbott is at 24.87X, above its 5-year median of 24.03X [19] - This suggests that Medtronic is more attractively valued compared to Abbott and its historical averages [20] Conclusion - Medtronic presents a more compelling value proposition for investors, with strong fundamentals, a higher payout ratio, and an upcoming business spin-off that could enhance shareholder value [22]

| 思宇年度活动回顾： 首届全球眼科大会 首届全球骨科大会 首届全球心血管大会 | | --- | | 即将召开： | | 2025年6月12日，首届全球医美科技大会 | | 2025年7月17日，第二届全球医疗科技大会 | | 2025年9月4-5日，第三届全球手术机器人大会 | 2025年5月21日，美敦力公布了2025财年第四季度及全年财务业绩，并宣布 计划在未来18个月内将旗下糖尿病业务拆分为独立公司 。此次财报发布之际，公司也面 临潜在的关税政策变化可能带来的成本冲击，管理层在业绩指引中对此作出了说明。 # 财报表现：营 收稳 健增长，现 金流充裕 2025财年 美敦力全年营收达到 335亿美元 ，同比增长3.6%（有机增长4.9%）。 全年归属股东净利润约为 46.6亿美元 ，GAAP摊薄每股收益 3.61美元 ，同比大增 31% 。美敦力的毛利率和盈利能力稳中有升：调整后营业利润率达27.8%，较上年提高0.9个百分点。 | | | | | FOURTH QUARTER | | | | | | | FIS | | --- | --- | --- | --- | --- | --- | --- | ...

Financial Data and Key Metrics Changes - The company reported Q4 revenue of $8.9 billion, growing 5.4% organically, with adjusted EPS of $1.62, up 11% [46][49] - For the full fiscal year 2025, revenue grew 5% organically and EPS grew 6% or 10% on a constant currency basis [50][56] - Adjusted gross margin was 65.1%, down 70 basis points year over year, while adjusted operating margin increased to 27.8%, up 90 basis points [47][49] Business Line Data and Key Metrics Changes - The cardiovascular portfolio grew 8%, with nearly 30% growth in cardiac ablation solutions [6][9] - Neuromodulation and diabetes segments delivered double-digit growth, while cranial and spinal technologies saw high single-digit growth in the US [7][25] - The diabetes business grew 12%, marking the sixth consecutive quarter of double-digit growth [25][26] Market Data and Key Metrics Changes - The US market experienced its strongest quarterly growth in 15 quarters, growing 5% [46] - Japan grew high single digits, while Western Europe and emerging markets grew mid single digits [46] - The company noted strong growth in India, Southeast Asia, and Eastern Europe [46] Company Strategy and Development Direction - The company plans to separate its diabetes business into a standalone public company, which is expected to enhance focus on high-margin growth markets [28][29] - The separation is seen as a strategic move to improve capital allocation and increase growth accretive investments in core businesses [44][45] - The company aims to continue delivering mid single-digit organic revenue growth and accelerating earnings leverage [30][61] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth drivers, highlighting strong positions in key markets and the potential for continued growth [88][90] - The company anticipates a return to high single-digit EPS growth in fiscal year 2027, driven by strong revenue growth and benefits from the diabetes separation [55][101] - Management emphasized the importance of operational improvements and cost management to enhance profitability [92][95] Other Important Information - The company announced an increase in its dividend for the 48th consecutive year [50] - The new CFO, Thierry Piéton, emphasized the focus on enhancing operations and driving value creation [39][42] - The company is investing significantly in R&D for the first time in four years, planning to grow R&D faster than revenue [53][92] Q&A Session Questions and Answers Question: Guidance philosophy with the new CFO - The company is bullish on growth drivers, with markets growing 7% even without diabetes, and expects strong contributions from key portfolios [88][90] Question: EPS growth expectations and below-the-line items - The company anticipates operating profit growth around 7%, despite pressures from tax and interest expenses [92][93] Question: Impact of tariffs and diabetes business separation - The impact of tariffs is expected to be between $200 million to $350 million, while the diabetes business separation is projected to be immediately accretive to EPS [106][101]