Medtronic halts Wash. facility shipments |
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Wed, 17 Jan 2007 00:55
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MINNEAPOLIS (AFX) - Medtronic Inc. on Tuesday said its Physio-Control Inc. business has suspended U.S. shipments of external defibrillators and other products from its Redmond, Wash., facility to address quality system issues raised by the company and regulators.The manufacturer of heartbeat-regulating devices said both it and the Food and Drug Administration have identified quality issues at the facility, but Medtronic did not specify what those issues are.The suspension doesn't affect products currently in use worldwide, Medtronic said.The Redmond facility makes external defibrillators, which are used to treat cardiac arrest, and other emergency-response products.Medtronic said the suspension should not have a material effect on earnings in the fiscal third quarter, which ends Jan. 26.Medtronic said in December it would spin off its Physio-Control business into a separate, publicly traded company. The company said it still intends to pursue the spin-off, once the quality issues are resolved.Shares of Medtronic shed 26 cents in aftermarket activity to $54.25 after adding 79 cents to close at $54.51 on the New York Stock Exchange.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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