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Medtronic, Inc. (MDT) Plans Expansion to Health Services, CEO Says


8/21/2013 7:35:40 AM

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Medtronic Inc. (MDT) is looking beyond medical devices, seeking to expand within hospitals and connect directly with patients as it moves into a health-services industry projected to grow as Obamacare expands coverage. The world’s biggest maker of devices to regulate the heart’s rhythm signaled its move last week with its $200 million acquisition of Cardiocom, which provides monitoring services to patients with chronic diseases. It is pursuing contracts with about a dozen large European medical centers to run their cardiac catheterization laboratories, where hearts are examined and stents are implanted to prop open arteries.

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