Medtronic has teamed up with DaVita to launch a new, independent company focused on reshaping kidney health and technology solutions. The new entity is called Mozarc Medical.
Medtronic is a medical device company based in Minneapolis, Minnesota, with its headquarters in Dublin, Ireland. DaVita is a healthcare provider offering kidney care services. DaVita has been the subject of litigation in the past few years for labor market collusion, wrongful death cases and whistleblower claims for illegal kickback charges.
Mozarc Medical’s workforce will include the former Medtronic Renal Care Solutions (RCS) business and other hired talent. Ven Manda, a 28-year veteran of Medtronic, will serve as the new company's CEO.
"Mozarc Medical's focus will be on meaningful and innovative kidney health technologies that improve the overall patient experience and increase access to care globally," Manda said in a statement. "At a time when patient preferences are evolving and in-home kidney care is on the rise, Mozarc Medical is uniquely positioned to better serve patients with kidney disease around the world."
Mozarc Medical is co-owned by DaVita and Medtronic, with both companies having equal stakes. Through the first three quarters of Medtronic's fiscal year 2023, the RCS business had revenue of $64 million, $63 million, and $70 million, respectively, the companies said in a statement.
"The launch of Mozarc Medical holds tremendous promise to improve the lives of patients living with kidney disease as it seeks to revolutionize the approach to home dialysis by improving accessibility, ease of use, and clinical performance," said Mahesh Krishnan, MD, group vice president of research and development at DaVita. "Our investment in this venture is born from our decades-long commitment to advancing kidney care, and our aim is that it will fuel patient-centric solutions that may not have otherwise been possible."
Co-ownership of the new company was announced last year by Medtronic and DaVita, with the goal of developing a suite of novel kidney care products and solutions, including home-based products.
Amy joined TriMed Media as a Senior Writer for HealthExec after covering home care for three years. When not writing about all things healthcare, she fulfills her lifelong dream of becoming a pirate by sailing in regattas and enjoying rum. Fun fact: she sailed 333 miles across Lake Michigan in the Chicago Yacht Club "Race to Mackinac."