Medtronic to Spin Patient-Monitoring, Lung-Treatment Units (1)

Medical devicemaker Medtronic Plc will spin off its patient-monitoring and respiratory-intervention businesses, another move by a major health-care manufacturer to narrow focus on its most lucrative activities.

The separation of the units as a new company is expected to be completed within the next year to 18 months, Dublin-based Medtronic said Monday in a statement. They brought in $2.2 billion in revenue in fiscal 2022, about 7% of the company’s overall, Medtronic said.

The move is part of a broader trend across the medical device and pharmaceutical industries where companies from Pfizer Inc. to Becton Dickinson and Co. ...