Medtronic said early Wednesday that it will voluntarily correct a software problem that caused its ventilators to spontaneously restart while in use, without an alarm warning, and then enter standby mode. Medtronic said it got 12 reports of the reset occurring, one of which did not involve a patient, and that no patient injuries have been reported. The software service update to correct the problem should be available in May, Medtronic said. Two types of ventilators, the Newport HT70 and Newport HT70 Plus, are involved in the corrective action, or about 14,000 ventilators in use. In cases of a reset, patients have to be moved to another ventilator. Medtronic shares were not active in premarket trade on Wednesday. Shares have risen 13.8% over the last three months, compared with a 4.0% rise in the S&P 500 .
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News