(SEEKINGALPHA.COM))–Medtronic (NYSE:MDT) is down 2% premarket, albeit on only 2,000 shares, on the heels of a Bloomberg report about a study conducted by a group of journalists that showed a surprisingly high number of injuries and deaths from medical devices over the past 10 years. The company’s devices appeared prominently in the study, accounting for 20% of reported adverse events.
The authors claim that global health authorities have failed to protect patients from inadequately tested implants which have been linked to more than 1.7M injuries and almost 83K deaths since 2008. They say regulators approve some devices too quickly and flawed products are not removed from hospitals fast enough. Also, certain devices removed from certain countries remain available in others.
The company denies any wrongdoing.
SOURCE:https://seekingalpha.com