Medtronic plc (NYSE: MDT) has signed a contract with Vizient, a healthcare performance improvement company in the U.S, to add the former’s Touch Surgery Enterprise platform to the latter’s offerings.
Designed for operating rooms, Touch Surgery Enterprise is an AI-powered surgical video management and analytics platform. Through this device, surgeries can be easily recorded, analyzed, and shared for training purposes and improving performance. It forms part of Medtronic’s portfolio of AI and surgical robotic solutions.
The Vice-President and General Manager, Digital Surgery within the Surgical Robotics business, which is part of the Medical Surgical portfolio of Medtronic, George Murgatroyd, said, “This agreement with Vizient allows us to build on the strong interest we’re seeing globally, to support hospitals in the U.S. who are looking to harness the power of surgical video data and analysis.”
Further, Medtronic stands to benefit from Vizient’s wide network of acute care providers, including academic medical centers, community hospitals, pediatric facilities, and non-acute care providers.
“Our ability to evolve relationships with our suppliers is a critical piece to the equation as we look to deliver on a more comprehensive value proposition in the market. Touch Surgery Enterprise aligns with our mission, offering our members the ability to analyze surgical processes that can help advance patient care,” said Bryan Grossman, Senior Vice-President, Strategic Supplier Performance & Category Management at Vizient.
The videos recorded through the platform can be accessed through the Touch Surgery App, which comes free of cost and holds several academically validated and accredited simulations for mobile training on more than 200 procedures in 17 and above specialties.
Stock Rating
Recently, Bank of America analyst Travis Steed initiated coverage on the stock with a Buy rating and a price target of $135, which implies upside potential of 30.3% from current levels.
Consensus among analysts is a Moderate Buy based on 12 Buys and 7 Holds. The average Medtronic stock prediction of $123.78 implies upside potential of 19.5% from current levels. Shares have declined 10.8% over the past year.
Blogger Opinion
TipRanks data shows that financial blogger opinions are 84% Bullish on MDT, compared to a sector average of 69%.
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