Is Medtronic, Inc. CEO Omar Ishrak Willing to Divest the Struggling Spine Business?

In the past, Medtronic CEO Omar Ishrak has said that he sees no upside to selling the spine business that has quarter after quarter hung like an albatross around the neck of the medical device giant. On Tuesday, it appeared as if Ishrak was signaling a shift. “I was not happy with our overall performance. …,” he told analysts in discussing the company’s fiscal third-quarter performance. He added that although each business segment had justifiable cause for poor performance “collectively the year-over-year decline is simply not sustainable over the long term.”

Back to news