119.29 +0.01 (0.01%)
After hours: 4:03PM EST
|Bid||119.45 x 800|
|Ask||119.41 x 800|
|Day's Range||117.96 - 119.50|
|52 Week Range||72.13 - 122.15|
|Beta (5Y Monthly)||0.71|
|PE Ratio (TTM)||43.53|
|Earnings Date||Feb. 23, 2021|
|Forward Dividend & Yield||2.32 (1.96%)|
|Ex-Dividend Date||Dec. 21, 2020|
|1y Target Est||129.29|
(Bloomberg) -- Compute Health Acquisition Corp., a blank-check company set up by Intel Corp. Chairman Omar Ishrak, filed for a $750 million initial public offering to raise funds for dealmaking in the health technology sector.The special purpose acquisition company plans to sell 75 million units at $10 apiece, it said in a filing Wednesday, confirming an earlier Bloomberg News report. Each unit consists of one share of Compute Health’s class A common stock and one-quarter of a redeemable warrant.Medical device giant Medtronic Plc has expressed interest in buying 1.5 million units in the offering, according to the filing. The SPAC plans to pursue investment opportunities “that are emerging at the intersection of computation and health care,” it said.Increasing computing power and the rise of artificial intelligence will help improve medical treatment, leading to a period of industry disruption that’s just starting, according to Compute Health. Goldman Sachs Group Inc. is sole book-running manager for the deal.Ishrak, who led Medtronic before joining Intel, is chairman of the SPAC. He set up the vehicle with co-chief executive officers Jean Nehme, who helped found artificial intelligence startup Digital Surgery Ltd. and sold it to Medtronic, and Joshua Fink, who runs investment firm Ophir Holdings LLC and is the son of BlackRock Inc.’s Larry Fink.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
(Bloomberg) -- Intel Corp. Chairman Omar Ishrak is planning to raise funds for a blank-check firm targeting deals in the health technology sector, according to people with knowledge of the matter.Ishrak, who previously ran medical device giant Medtronic Plc, could file public registration documents with the U.S. Securities and Exchange Commission as soon as Tuesday, the people said, asking not to be identified because the information is private. Ishrak is targeting to raise about $750 million to $1 billion for the special purpose acquisition company, or SPAC, they said.Goldman Sachs Group Inc. is leading preparations for the initial public offering, the people said. Hedge fund manager Joshua Fink, who is the son of BlackRock Inc.’s Larry Fink, and Medtronic executive Jean Nehme will have senior roles at the blank-check company, the people said. Ishrak is poised to be chairman, they said.A representative for Intel couldn’t immediately comment on behalf of Ishrak. A spokesperson for Goldman Sachs declined to comment.SPACs, once an obscure vehicle used by a few companies to go public, catapulted to record levels in 2020, raising about $79 billion on U.S. exchanges, according to data compiled by Bloomberg.That momentum has carried into 2021, with 53 blank-check companies raising $15 billion in listings so far in January, the data show. Forty-seven more SPACs this month have announced plans to raise a combined $11.7 billion and are awaiting IPOs.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
ADAPT-PD Global Study Designed to Demonstrate Safety & Efficacy of Automated Therapy Which Responds to Brain Signals in Parkinson's Disease PatientsDUBLIN, Jan. 14, 2021 /CNW/ -- Medtronic plc (NYSE:MDT), the global leader in medical technology, today announced the first enrollment in ADAPT-PD (Adaptive DBS Algorithm for Personalized Therapy in Parkinson's Disease), its trial evaluating the safety and efficacy of adaptive deep brain stimulation (aDBS) in patients with Parkinson's Disease (PD).