Dividend Kings and Aristocrats List: 10 Biggest Stocks

8. Medtronic plc (NYSE:MDT)

Market Cap as of March 24: $111.2 Billion

On March 24, Medtronic plc (NYSE:MDT) said it has entered into a distribution agreement with Merit Medical Systems to offer the FDA-cleared ViaVerte™ system. The product is a minimally invasive, implant-free basivertebral nerve ablation (BVNA) system. It is designed with a physician-controlled steerable mechanism to allow more precise targeting of the basivertebral nerve for treating chronic vertebrogenic lower back pain.

The agreement builds on Medtronic’s recent push to expand its core franchises through strategic partnerships. It also extends its existing relationship with Merit Medical. Merit already supplies components used in Medtronic’s Kyphon™ procedures, including Xpander™ Inflation Syringes and the KyphoFlex™ unipedicular steerable balloon catheter for vertebral compression fractures.

Data from the American Chronic Pain Association shows that about one in three Americans lives with some form of chronic pain.

BVNA has emerged as a growing treatment option for patients dealing with chronic low back pain linked to damaged vertebral endplates. The ViaVerte™ system is expected to be available later this year and is designed to support a same-day outpatient procedure.

Medtronic said the addition strengthens its broader pain management portfolio and supports its goal of expanding treatment options for patients and healthcare providers. Its existing portfolio includes spinal cord stimulation, vertebral augmentation, nerve ablation, bone tumor ablation, and targeted drug delivery. The inclusion of a steerable BVNA system adds another option to address rising demand in this area.

Medtronic plc (NYSE:MDT) develops and sells device-based medical therapies to healthcare systems, physicians, clinicians, and patients across the United States, Ireland, and other international markets.