Ishrak will remain with the company as executive chairman. Geoff Martha, the current head of Medtronic’s restorative therapies group, will become president on 1 November and CEO in April 2020. Brett Wall, the current lead of the brain therapies business, will head the restorative therapies group.

Switzerland-based Distalmotion hopes to make its Dexter robotic surgery the standard of care in procedures that entail precise dissection and suturing and market itself as a more cost-effective alternative to Intuitive Surgical’s da Vinci system.

The global market for endoscopic and pelvic surgery procedures is expected to reach $17.7bn in 2023, a CAGR of 6.4%, driven by patients' demand for less invasive surgeries and physicians' preference for minimally invasive surgeries versus open surgeries. By 2023, the number of general and pelvic endoscopic procedures performed globally will reach about 29.7 million, representing a CAGR of 3.6%.

The global market for blood gas monitoring systems is expected to grow 6.1% annually to reach $4.9bn in 2023, driven by the rising prevalence of chronic diseases, the aging population, and pressure on medical device makers to introduce smart devices that improve outcomes while reducing cost of care.