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Stifel has lowered its price target on Medtronic (NYSE:MDT) to $95 from $105, maintaining a Hold rating. The adjustment reflects transaction-related impacts from the 9 March IPO of Medtronic's Diabetes business, now called MiniMed. MiniMed will remain a consolidated subsidiary until formal separation, expected about six months post-IPO. Stifel continues to model full Diabetes business revenue whilst adjusting for the 10% non-controlling interest sold in the IPO. Management expects IPO-related earnings per share dilution of 1-2 cents monthly until separation completes. Separately, the US Food and Drug Administration recently cleared Medtronic's Stealth AXiS surgical system for cranial and ear, nose and throat procedures, expanding beyond its earlier spine indication.

What impact might Medtronic's new lab have on Galway's medtech ecosystem? 3 Apr 2026 From left: Ruth Callanan, Ronan Rogers and John Caulfield. Image: Andrew Downes/Xposure Ronan Rogers and Ruth Callanan discuss innovation in the west of Ireland and the evolution of Ireland's STEM careers. Ireland's medtech sector is moving beyond traditional biomedical engineering, according to Ronan Rogers, the senior R&D director for cardiac ablation solutions at Medtronic. He explained the region has built "real depth", not just in medtech, but across key areas such as pharmaceutical science, advanced analytics and digital technology. Areas that are now "increasingly converging". "That diversity of opportunity is a huge strength for Ireland," he told SiliconRepublic.com. "It allows people from different professional backgrounds to find meaningful, high-impact careers in healthcare, while helping Ireland move further up the value chain as a centre for complex, globally relevant innovation." Having recently expanded its Galway-based pharmaceutical laboratory, the Medtronic facility now serves as a west of Ireland hub for high-tech innovation and the evolving needs of the global healthcare space. Rogers is of the opinion that this is reflective of the convergence of the country's medtech divisions. Noting that the primary purpose of the lab "is to integrate pharmaceutical, engineering and analytical expertise under one roof to address the complex challenges of combination products, [that is] where a medical device and a medicine work together". "We see that convergence very clearly in this laboratory and there is a wide range of career paths in our industry, whether that's a pharmacist drawn to the faster innovation cycles and applied science of medtech, or a software developer who wants to use their skills to solve real healthcare challenges and code with a deeper sense of purpose." What opportunities exist? With the expansion comes the opportunity for students and professionals to consider a new role, either as part of Medtronic or within Galway's thriving life science and medtech spaces. "Galway offers a unique innovation ecosystem where infrastructure, academic partnerships and a significant medtech footprint all provide a strong foundation for sustaining Ireland's leadership in the life sciences sector," said Ruth Callanan, Medtronic's director of site quality. With the investment focused on significantly expanding R&D capability and technical depth within a critical space in the Irish medtech sector, Medtronic has increased lab space by almost a half and introduced analytical technologies that didn't exist there before. Callanan said: "This creates the conditions for future high-value work as programmes grow. It strengthens Galway's ability to attract and retain highly specialised talent, pharmaceutical scientists, chemical and materials engineers and it allows work that was previously outsourced internationally to be done here in Ireland. "Over time, as demand and activity scale, we do expect this capability to support additional specialist roles, phased in over the coming years. Importantly, it reinforces Ireland's position at the forefront of advanced medtech R&D and reflects a broader industry trend toward self-sufficiency in high-tech analytical testing." Step into the future. She explained the new lab will enable experts to integrate processes as the facility will be responsible for the entire life cycle of product development, from early phase R&D through to post-market oversight. She added: "The laboratory utilises advanced LCMS [liquid chromatography-mass spectrometry] and GCMS [gas chromatography-mass spectrometry] technologies, which act as 'molecular microscopes'. This allows our scientists to identify unknown compounds or impurities at extremely precise levels." According to Rogers, the new lab has a role to play in what he believes to be the reshaping of how STEM careers in Ireland are perceived and pursued, with Callanan noting this creates for students and professionals opportunities to engage with careers that bridge the gap between various scientific disciplines. "A laboratory of this size and complexity requires students and professionals with a wide range of skills and experience across multiple disciplines," she said. "Just as importantly," added Rogers, "we're sending a clear signal to pharmacists, chemists and analytical scientists that medtech offers deep, intellectually challenging career paths that go well beyond traditional manufacturing or even classical biomedical engineering." Laura Varley is the Careers editor for Silicon Republic

Medtronic launches new pharmaceutical lab in Galway. A GLOBAL health tech leader which is headquartered in Galway has unveiled a new laboratory in the city. Medtronic has formally opened a new Pharma Laboratory and Building 6 at its location in Parkmore. Galway TD and Minister of State Seán Canney attended the launch event this month. Minister Seán Canney (centre) attended the opening of the new laboratory this month "Great to be in Parkmore to officially open the new Pharma Laboratory and Building 6 at Medtronic," he said. "This is a really significant investment for Galway and for the West - strengthening our position as a global leader in MedTech and supporting the next generation of innovation." He added: "The facility will act as a "one-stop shop" for testing and validating drug-device combination products - a fast-growing area that is improving outcomes for patients worldwide. "Medtronic has been part of Galway for over 40 years, and what's been built here is genuinely world-class. "It reflects the strength of the talent, the ecosystem, and the ambition that exists across this region. Most importantly, this is about impact - better treatments, better technologies, and better outcomes for patients. "A real vote of confidence in Galway and in Ireland." Everything from irishpost.com and the print edition is available on the Irish Post App - plus more! Download it for Android or Apple IOS devices today.