Medtronic doubles London presence to create global hub for AI and robotics in surgery

Medtronic plc, the global leader in healthcare technology, today announced it has doubled both the size of its London office to 25,000 sq ft, and its London workforce to over 200, to focus on the development of AI and digital technologies.

The expansion forms the business' largest global digital centre for AI and robotics in surgery. It is part of a multi-million-dollar investment in the United Kingdom over five years, building on the company's existing substantial commitments to the market, including local partnerships in the research and design of robotic-assisted surgery capabilities.

This investment reinforces the growing research and development presence of Medtronic in the UK, underlying the company's long-term commitment to supporting the UK healthcare industry through innovative technologies. This investment aims to strengthen innovation in the UK healthcare, and aligns with the ambitions of the NHS 10-Year Health Plan.

Located in London's Old Street "Silicon Roundabout", the Medtronic Centre of Digital Excellence drives research and development in software for robotic-assisted surgery in the UK and globally. The site brings together some of the UK's leading medical software engineers, including new software developer roles, to advance digital surgical capabilities and applications, across global healthcare systems.

"The future of surgery is increasingly digital. Our investment reflects the significant talent and innovation here in the UK, including in AI, and is a statement of intent to transform healthcare outcomes for surgeons and patients worldwide, said George Murgatroyd, VP & general manager, Digital Technologies within the Surgical Business, which is part of the Medtronic Medical Surgical Portfolio. "Medtronic has led technology innovation in medicine for decades, and our significant investment in the era of digitised healthcare positions us as a partner to help shape the UK's vision for a technology-driven future. Placing ourselves in the beating heart of London's tech hub, probably the most innovative square mile in Europe, is key to building the future of digitally-enabled healthcare."

A hub for surgical AI and collaboration
The Medtronic London centre has already designed highly specialised computing and software for operating rooms - now installed in hospitals in over 30 countries worldwide. The team has developed and launched hundreds of AI algorithms to help surgeons automatically access analytics after performing surgery. This digital technology supports surgical teams in their planning, learning, and collaboration with other experts around the world - including through secure live streaming. The London centre is central to Medtronic's surgical robotics innovation - with capabilities in development, including AI-powered decision support capabilities for surgeons whilst they operate, in real-time.

The site also features a mock robotic operating theatre to test new technologies and allow healthcare professionals to engage directly in the future of digitised procedure rooms.

Proven track record in UK innovation
There are nearly 60 million soft-tissue surgeries done around the world each year - most still delivered open. Advancing capabilities and access to minimally invasively surgical techniques reduces patient risks and improves recovery. ^i,ii,iii,iv Advancing technology improves the delivery of care.

"This is a transformative moment for surgical innovation within the NHS," said ProfessorSanjay Purkayastha, consultant general and bariatric surgeon at Imperial College Healthcare NHS Trust. "AI-powered technologies are no longer future concepts in surgery; they are here and will redefine how we care for patients. By working with partners like Medtronic, we can accelerate the adoption of digital tools in the operating theatre and set a new standard for precision, training, and patient outcomes across the NHS."

In the UK, Medtronic's AI and robotics footprint includes various hospitals, including Imperial, King's College, University College London Hospitals, and Guy's and St. Thomas':

• Evidence shows that when using GI Genius over a standard colonoscopy, adenoma detection rates increase up to 14.4% and reduce adenoma miss rates by approximately 50%.^v
• The £2.5m government-funded NAIAD trial with King's College London^vi - the largest AI gastroenterology trial in the country - involving 4,000 patients across 20 NHS hospitals, utilises the GI Genius™ intelligent endoscopy module.
• The PillCam™ capsule endoscopy system has helped 4 million patients globally^vii, by aiding doctors in the identification of bleeding, Crohn's disease, polyps, and iron deficiency anaemia in the small bowel and colon.
• Hugo™ robotic-assisted surgery system now installed in over 30 countries, including in the UK. More broadly, this investment contributes to the UK robotics market, projected to reach $4 billion by 2030^viii.
• The Centre of Digital Excellence will enable Medtronic to build on this legacy and drive further critical R&D, innovation and digital technologies for UK healthcare.

About Medtronic
Bold thinking. Bolder actions. We are Medtronic. Medtronic plc, headquartered in Galway, Ireland, is the leading global healthcare technology company that boldly attacks the most challenging health problems facing humanity by searching out and finding solutions. Our Mission - to alleviate pain, restore health, and extend life - unites a global team of 95,000+ passionate people across more than 150 countries. Our technologies and therapies treat 70 health conditions and include cardiac devices, surgical robotics, insulin pumps, surgical tools, patient monitoring systems, and more. Powered by our diverse knowledge, insatiable curiosity, and desire to help all those who need it, we deliver innovative technologies that transform the lives of two people every second, every hour, every day. Expect more from us as we empower insight-driven care, experiences that put people first, and better outcomes for our world. In everything we do, we are engineering the extraordinary. For more information on Medtronic, visit www.Medtronic.com and follow on LinkedIn.

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.

Contacts:
Laura Moerman
Public Relations
+32 476 228902

Ryan Weispfenning
Investor Relations
+1-612-839-4549

ⁱ Compared to open surgery.
ⁱⁱ Fitch K, Engel T, Bochner A. Cost differences between open and minimally invasive surgery. Managed Care. 2015;24(9):40-48.
ⁱⁱⁱ Tiwari MM, Reynoso JF, High R, Tsang AW, Oleynikov D. Safety, efficacy, and cost effectiveness of common laparoscopic procedures. Surg Endosc. 2011;25(4):1127-1135.
^iv Roumm AR, Pizzi L, Goldfarb NI, Cohn H. Minimally invasive: minimally reimbursed? An examination of six laparoscopic surgical procedures. Surg Innov. 2005;12(3):261-287.
^v Repici A, Badalamenti M, Maselli R, et al. Efficacy of Real-Time Computer-Aided Detection of Colorectal Neoplasia in a Randomized Trial. Gastroenterology (2020). https://doi.org/10.1053/j.gastro.2020.04.062
^vihttps://news.medtronic.com/2023-06-05-Prestigious-NHS-AI-award-paves-way-for-real-world-trial-of-GI-GeniusTM-intelligent-endoscopy-module
^vii Internal data, based on shared colonoscopy volumes per facility.
^viii https://mobilityforesights.com/product/uk-medical-robotics-market