Medtronic Appoints Former Johnson & Johnson Veteran Kate Benedict as New Head of Acute Care & Monitoring Business

Medtronic has experienced frequent personnel changes and business adjustments in recent years. The newly reorganized Acute Care & Monitoring (ACM) business has also welcomed a new leader. According to a recent report by Fierce Biotech, Medtronic officially announced the appointment of Kate Benedict as the new Senior Vice President and ACM President.

Business Restructuring, New Leader Takes Office
Medtronic Has Frequent Personnel Changes Recently

It is reported that Kate Benedict is a highly experienced expert in the medical device field with over 25 years of extensive experience. Prior to joining Medtronic, she served as President of Global Health Solutions at Flex. Additionally, her career includes executive roles at several global medical device giants such as BD Medical, Alcon, and Johnson & Johnson. Public information indicates that Kate Benedict worked at Johnson & Johnson for 16 years, during which she held various positions.

Notably, in addition to her roles as Senior Vice President and President of the ACM business, Kate Benedict will also join the leadership team of Medtronic's Medical Surgical Portfolio.

This time, Kate Benedict also has a heavy responsibility on her shoulders. The ACM business she leads has "gone through many twists and turns" before the reorganization. The original PMRI business (including ventilators, bedside monitors, pulse oximetry sensors, anesthesia hardware, telemedicine platforms, etc.) was once put up for sale by Medtronic: In October 2022, Medtronic suddenly announced plans to complete the spin-off and divestiture of its patient monitoring and respiratory interventions businesses within the next 12 to 18 months.

Despite the high-profile moment cast by products such as ventilators in 2020 when the COVID-19 pandemic raged, sales of such products continued to decline after the pandemic. Therefore, Medtronic announced its spin-off in 2022, hoping to further streamline its business. The follow-up to this business streamlining was answered in 2024. In February 2024, Medtronic officially announced its exit from the ventilator product line, retaining and merging the remaining PMRI business into an ACM business unit. Thus, the ACM business unit was officially born.

At the same time, a series of personnel changes occurred. First, the departure of Bob White, Executive Vice President of Medtronic and President of the Medical Surgical Portfolio, was announced simultaneously with the business restructuring news. Then, frequent personnel changes appeared in March: Ariel Mactavish, President of the Respiratory Interventions division, announced her resignation; Gio Di Napoli, President of the Gastrointestinal business, announced his resignation; and former Senior Vice President of Corporate Development, Christopher Cleary, also left. In June, Rob ten Hoedt, Executive Vice President and President of Global Regions, retired...

However, the department's business restructuring and leadership reshuffle also signify that Medtronic is about to enter a new phase of development. The series of reforms also symbolize Medtronic's planning and determination for future growth.

In her statement regarding this appointment, Kate Benedict expressed her anticipation and confidence. She noted that the vision of the Acute Care & Monitoring division to achieve personalized patient care anytime and anywhere is highly motivating for her. She will support the ACM business team in providing world-class technology, empowering healthcare professionals globally, and improving patient outcomes.

Split Again
Business Streamlining in Progress

Apart from the ACM business restructuring, Medtronic has streamlined its operations multiple times in recent years, with the strategy of divesting businesses continuing.

In 2023, Medtronic divested its Renal Care Solutions (RCS) business and established a joint venture with DaVita named Mozarc Medical. This new company will combine the strengths of DaVita (one of the largest renal care service providers) and Medtronic to expand dialysis delivery systems and other technologies for treating end-stage renal disease.

Moreover, the progress of Medtronic's divestiture has not been suspended. In May this year, when Medtronic announced its financial results for the fiscal year 2025, it revealed that it would spin off its diabetes business unit within the next one and a half years. Meanwhile, Que Dallara, Executive Vice President and President of Medtronic's diabetes business, will be appointed as the CEO of the new company.

It is reported that the business unit is worth $2.8 billion. After the spin-off, its diabetes business unit will become an independent company focused on insulin delivery systems and wearable blood glucose monitors, and will promote the IPO listing plan of the new company after the spin-off.

In the 2025 fiscal year, Medtronic reported revenue of $33.54 billion, with an organic growth of 4.9% year-over-year. Its four major business units performed steadily in the 2024 fiscal year:

Cardiac and Vascular Group was the top revenue contributor in fiscal year 2025, with revenue reaching $12.481 billion, representing a 6.3% organic growth year-over-year.

Neuroscience business revenue reached $9.846 billion, with organic growth of 5.2% year-over-year;

Medical Surgical business saw the lowest growth in fiscal year 2025, with revenue of $8.407 billion, representing an organic growth of only 0.8% year-over-year;

Medtronic's diabetes business, which is about to be spun off, performed well in the 2025 fiscal year, with revenue of $2.755 billion, representing an organic growth of 11.5% year-over-year. It was also the fastest-growing business unit among Medtronic's four major divisions.

But it is worth noting that even if the diabetes business performs well in the fiscal year 2025, the revenue of this segment is significantly lower than that of the other three major business segments. The revenue of the medical and surgical business, which has the lowest growth rate, is still three times higher than that of the diabetes business.

Spin-offs and divestitures are important strategic means for global healthcare giants to integrate resources, focus on the future, and gain growth momentum. Currently, a wave of spin-offs and business divestitures is sweeping through the medical device giants. In addition to Medtronic's recent spin-off of its diabetes business, BD (Becton, Dickinson and Company) also announced that it will sell its $30 billion life sciences division.

Conclusion

With the new leader taking the helm, Medtronic's ACM business is set to enter a new phase of development. We look forward to Medtronic's promising performance ahead.

References:
《Medtronic names new head of acute care and monitoring with Flex's Kate Benedict》 Fierce Biotech

Editor: Muyan

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