New Medtronic Neurovascular Co-Lab™ Platform Drives Collaboration and Connections Between Startups, Physicians and Institutions; aims to improve stroke treatment and access for patients worldwide
DUBLIN, Oct. 26, 2022 /PRNewswire/ -- Medtronic plc (NYSE: MDT), a global leader in health technology, today announced the launch of the Medtronic Neurovascular Co-Lab™ platform, designed to accelerate urgently needed innovation in the care and treatment of stroke.
The company is leveraging its market leadership position and reputation as a trusted partner to create a platform that will ultimately advance technology concepts that have the greatest potential to positively impact millions of stroke patients. Innovators, entrepreneurs and doctors will be able to collaborate, improve and share their innovative concepts and products. With the launch of the Medtronic Neurovascular Co-Lab™ platform, Medtronic is deepening its commitment to advancing stroke innovation as the world prepares to recognize World Stroke Day on October 29, 2022.
"We need to act now to prioritize the best concepts and most powerful products to ensure they reach more patients sooner," said Dan Volz, president of the Medtronic Neurovascular business, which is part of the Neuroscience portfolio. "Clinicians and innovators are passionate about improving stroke care, and the neurovascular technology market is full of ideas, improvements and potential therapies that need development. Our platform will provide both an infrastructure and a process to pursue viable opportunities." on a system previously unmatched scale".
The Medtronic Neurovascular Co-Lab™ platform will help bring neurovascular innovations to life. The process will be transparent and collaborative, ensuring that opportunities are advanced effectively and responsibly. The platform will launch on October 29, World Stroke Day.
"What's fascinating about the neurovascular field is that we still have so much to discover about the brain. Medtronic has always invested in innovative stroke treatment technologies that lead the standard of care and advance the practice of neurosurgery," said Brett Wall, Executive Vice President and General Manager of Medtronic's Neurosciences Portfolio. "The neurovascular market has tremendous growth potential, and we invited innovative startups, clinicians, venture capital firms and inventors to collaborate with us as we set out to change stroke care as we know it today. With more than 90,000 employees in 150 countries, combined with our proven track record in stroke innovation, Medtronic is well positioned to help address this urgent challenge."
The Medtronic Neurovascular Co-Lab™ platform is an always-on virtual portal for innovator submissions, which are then evaluated and prioritized to determine a potential path forward. Opportunities chosen will advance based on their individual needs, including exposing innovators to Medtronic's network of experts, thought leaders, and partners for collaboration, clinical study funding, and strategic and directional guidance.
Medtronic welcomes innovations at every stage of development to take them to the next level; however, the high-priority opportunities are high-potential late-stage clinical and commercial-stage products and technology, followed by physician-led enhancements to existing products. For more information or to submit, visit the Medtronic Neurovascular Co-Lab™ platform at www.medtronic.com/neurovascular-co-lab.
About the Stroke Challenge
Advancing stroke care is critical and urgent. Globally, 15 million people have strokes each year. Of these, 5 million people die and another 5 million are left permanently disabled.1 Yet the second leading cause of death and the third leading cause of disability globally are often left untreated.2 Most people experience accidents ischemic strokes in which a clot blocks blood flow to the brain. Studies indicate that only about 10 to 14 percent receive a clot-dissolving treatment that can stop the onset of stroke symptoms.3
In addition, the use of mechanical thrombectomy, a surgical treatment for stroke and the standard of care for large-vessel occlusion strokes, remains extremely low. In the US, the 2019 thrombectomy estimate was less than 40,000, while the number of patients who could benefit from thrombectomy was between 200,000 and 350,000.4
About the Neurovascular Division at Medtronic
With the world's largest neurovascular technology business, Medtronic Neurovascular led evidence-based medicine in neurointervention with five landmark studies published in The New England Journal of Medicine in 2015. His clinical and regulatory leadership and bold approach shaped the current guidelines for stroke treatment.5
About Medtronic
Bold thinking. Bolder actions. We are Medtronic. Medtronic plc, headquartered in Dublin, Ireland, is the world's leading health technology company, boldly tackling the most challenging health problems facing humanity by seeking and finding solutions. Our mission - to relieve pain, restore health and prolong life - unites a global team of more than 90,000 passionate people in 150 countries. Our technologies and therapies treat 70 health conditions and include cardiac devices, surgical robotics, insulin pumps, surgical tools, patient monitoring systems and more. Driven by our diverse knowledge, insatiable curiosity, and desire to help everyone in need, we deliver innovative technologies that transform two people's lives every second, every hour, every day. Expect more from us as we empower knowledge-based care, experiences that put people first, and better outcomes for everyone. In everything we do, we are designing the extraordinary. For more information about Medtronic (NYSE:MDT), visit www.Medtronic.com and follow @Medtronic on Twitter and LinkedIn.
All forward-looking statements are subject to risks and uncertainties as described in Medtronic's periodic reports filed with the Securities and Exchange Commission. Actual results may differ materially from anticipated results.
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