Medical device giant Medtronic is acquiring St. Paul, MN–based Corventis and its heart failure monitoring patch, a top executive for the company recently confirmed. Michael Coyle, the president of Medtronic’s cardiac and vascular group, told analysts during a June 5 gathering that there are presently about 4 million patients using some kind of heart monitoring technology, but Medtronic is only competing in a small sliver of the space—the roughly 25,000 with implantable cardiac monitors. “Our objective is to disrupt this entire product scheme,” Coyle told analysts, referring to the Corventis patches, which he called the “Medtronic Patch” in his presentation.
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