The Sunnyvale, Calif., site is related to Epix Therapeutics, a radiofrequency cardiac ablation tech company that Medtronic acquired for $316 million in 2019, according to the April 12 story. Meditech had said it would move that catheter manufacturing to Ireland.
“As we assess our business, we need to make longer-term structural changes to ensure the sustainability of our organization,” the company wrote in a statement shared with MassDevice. “We previously announced plans to close this facility, and after careful analysis and consideration, we have made the necessary decision to close the site in June 2023, therefore eliminating some positions.”
Medtronic has promised “significant expense reductions” in the fourth quarter of its fiscal year, which ends April 28, according to the story. More than 18,000 medtech workers have lost their jobs since mid-2022.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
