Medtronic’s statement on the latest interim and proposed regulations from the U.S. Department of the Treasury

DUBLIN – April 6, 2016 – Medtronic plc (MDT) has conducted an initial review of the U.S. Treasury’s interim and proposed regulations issued on April 4, 2016, which are intended to address certain concerns related to transactions that the Treasury describes as “tax inversion” and “profit stripping.” Medtronic has determined that the Interim Rules and Proposed Rules do not have a material financial impact on any transaction undertaken by the company. Medtronic will continue to review the Regulations more closely and, as appropriate, will provide appropriate disclosures regarding any potential material impacts to the Company.

Medtronic’s acquisition of Covidien, which closed in January 2015, was made strategically and has created a company that positively impacts the lives of more patients in more ways and in more places around the world.

About Medtronic
Medtronic plc (www.medtronic.com), headquartered in Dublin, Ireland, is one of the world’s largest medical technology, services and solutions companies – relieving pain, restoring health and extending the lives of millions of people around the world. Medtronic employs more than 85,000 people worldwide, serving physicians, hospitals and patients in approximately 160 countries. The company is focused on collaborating with stakeholders around the world to collectively advance healthcare.

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 expected results.

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Communication:
Fernando Vivanco
Public Relations
+1-763-505-3780

Ryan Weispfenning
Investor Relations
+1-763-505-4626

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Source: Medtronic plc via GlobeNewswire
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