Medtronic plc has completed a $90 million private placement to Anteris Technologies Global Corp., part of a $320 million aggregate capital raise that included a $230 million underwritten public offering. The investment gives Medtronic approximately 15.65 million newly issued Anteris shares and aligns both companies on advancing the global PARADIGM pivotal trial of the DurAVR® Transcatheter Heart Valve. The head-to-head study will enroll roughly 1,000 patients randomized 1:1 to receive either DurAVR® or a commercially available transcatheter aortic valve replacement, with a primary composite endpoint of all-cause mortality, stroke and cardiovascular hospitalization at one year. Wells Fargo Securities served as sole placement agent for Medtronic’s participation, underscoring Medtronic’s strategic focus on differentiated valve innovation and evidence generation in transcatheter aortic valve replacement (TAVR).

Medtronic, a Dividend Aristocrat, is on track to boost its quarterly payout for the 48th straight year, reflecting strong cash flow from its Pulsed Field Ablation and Symplicity hypertension franchises. These minimally invasive therapies have driven double-digit year-over-year procedure growth and sustained free cash flow above $4 billion annually. S&P Global Ratings reaffirms Medtronic’s A credit rating with a stable outlook, citing a leverage ratio below 3.5x net debt to adjusted EBITDA and ample liquidity of over $8 billion. The company’s disciplined capital allocation strategy prioritizes dividends, strategic M&A and share repurchases, positioning it to support long-term shareholder returns and invest in next-generation therapy platforms.