Yahoo Finance Medtronic Stock Plunges On Reports of Recall Expansion
By Sam Boughedda
Investing.com — Medtronic PLC (NYSE:MDT) stock is sliding Monday after a report from New York Injury Law News said that a recent recall of Medtronic Pipeline Embolization Devices has been expanded.
Shares fell 5.11% in morning trading.
The previous recall included around 800 devices. The report said it has now been expanded to include approximately 8,825, with Medtronic asking healthcare providers to immediately return unused products and contact Medtronic.
The device is a braided wire mesh tube that is flexible and placed within the affected artery to treat and prevent certain brain aneurysms.
According to New York Injury Law News, Medtronic is making the recall because of a risk that the delivery system’s wire and tubes may fracture or break while the doctor is putting it in place.
If the device breaks, pieces could be left inside the patient's bloodstream and cause additional health problems. The recall has been identified as Class I, meaning it could cause severe injury or fatality.
Earlier this month, the FDA issued a Class I recall on Medtronic's MiniMed Remote Controllers used with a Medtronic MiniMed 508 insulin pump or the MiniMed Paradigm family of insulin pumps.
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