Medtronic Statement on U.S. Department of Treasury's Recent Temporary and Proposed Regulations
April 06 2016 - 8:00AM
DUBLIN - April 6, 2016 -
Medtronic plc (NYSE: MDT) has conducted a preliminary review of the
United States Department of Treasury Temporary and Proposed
Regulations issued on April 4, 2016, which are designed to address
certain concerns around transactions referred to by Treasury as
"tax inversions" and "earnings stripping." Medtronic has concluded
that the Temporary and Proposed Regulations do not have a material
financial impact on any transaction undertaken by the company.
Medtronic will continue to more fully examine the Regulations and
will provide appropriate disclosure concerning any potential
material impact on the company, if applicable.
Medtronic's acquisition of Covidien, which closed
in January 2015, was undertaken for strategic reasons and has
created a company that is positively impacting the lives of more
patients, in more ways and in more places around the world.
About Medtronic
Medtronic plc (www.medtronic.com), headquartered in Dublin,
Ireland, is among the world's largest medical technology, services
and solutions companies - alleviating pain, restoring health and
extending life for millions of people around the world. Medtronic
employs more than 85,000 people worldwide, serving physicians,
hospitals and patients in approximately 160 countries. The company
is focused on collaborating with stakeholders around the world to
take healthcare Further, Together.
Any forward-looking statements
are subject to risks and uncertainties such as those described in
Medtronic's periodic reports on file with the Securities and
Exchange Commission. Actual results may differ materially from
anticipated results.
-end-
Contacts:
Fernando Vivanco
Public Relations
+1-763-505-3780
Ryan Weispfenning
Investor Relations
+1-763-505-4626
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Medtronic plc via Globenewswire
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