Shares of Medtronic PLC (NYSE:MDT) ended Thursday session in red amid volatile trading. The shares closed down -1.34 points or -1.54% at $85.40 with 4.13 million shares getting traded. Post opening the session at $86.86, the shares hit an intraday low of $85.06 and an intraday high of $87.46 and the price vacillated in this range throughout the day. The company has a market cap of $118.02 billion and the numbers of outstanding shares have been calculated to be 1.38 billion shares.
Medtronic PLC (MDT) on Sept. 28, 2016 announced it has received U.S. Food and Drug Administration (FDA) approval of its MiniMed® 670G system – the first Hybrid Closed Loop insulin delivery system approved anywhere in the world. Featuring the company`s most advanced algorithm – SmartGuard(TM) HCL – the system is the latest innovation in Medtronic`s phased approach toward developing a fully automated, closed loop system. Medtronic is committed to simplifying and improving diabetes management through the advancement of smart algorithms that achieve greater glucose control with reduced patient input. Through SmartGuard HCL, the system builds on Medtronic`s industry leading algorithms to offer therapy customization so patients and providers can choose from increasing levels of automation that best fit their diabetes management needs.
“With SmartGuard HCL, the ability to automate basal insulin dosing 24 hours a day is a much-anticipated advancement in the diabetes community for the profound impact it may have on managing diabetes – particularly for minimizing glucose variability and maximizing time in the target range,” said Richard M. Bergenstal, M.D., principal investigator of the pivotal study and executive director of the Park Nicollet International Diabetes Center in Minneapolis. “The data from the pivotal trial were compelling and I am confident that this therapy will be well-received by both the clinical and patient community.”
Shares of Community Health Systems (NYSE:CYH) ended Thursday session in red amid volatile trading. The shares closed down -0.02 points or -0.18% at $11.14 with 5.57 million shares getting traded. Post opening the session at $11.05, the shares hit an intraday low of $11.00 and an intraday high of $11.54 and the price vacillated in this range throughout the day. The company has a market cap of $1.35 billion and the numbers of outstanding shares have been calculated to be 113.64 million shares.
Community Health Systems (CYH) on September 29, 2016 announced that subsidiaries of the Company have signed a definitive agreement for the sale of four hospitals and their associated assets to subsidiaries of Curae Health, Inc. Facilities included in the transaction are 95-bed Merit Health Gilmore Memorial in Amory, Miss., 112-bed Merit Health Batesville in Batesville, Miss., 181-bed Merit Health Northwest Mississippi in Clarksdale, Miss. and 126-bed Highlands Regional Medical Center in Sebring, Fla.
The Company has previously announced plans to reduce and refine its overall portfolio with proceeds being used to pay down debt.
“We are highly invested in the success of our affiliated hospitals, and we are considering how to best position them for the future,” said Wayne T. Smith, chairman and chief executive officer of Community Health Systems, Inc. “These four hospitals provide quality care and are important in each of their communities. They will benefit from alignment with a smaller organization specializing in the operation of rural hospitals. Divestiture of these assets advances our strategy to focus on a portfolio of larger hospitals and regional healthcare systems.”