Medtronic plc, a global leader in healthcare technology, today announced a strategic agreement to distribute the advanced Dragonfly™* pancreaticobiliary system from Dragonfly Endoscopy, Inc. in the United States. This innovative platform introduces significant enhancements in pancreaticobiliary endoscopy — a field where procedural standards have remained largely unchanged for decades. Financial terms of the agreement were not disclosed.

The Dragonfly™* system uniquely addresses critical clinical limitations seen in traditional cholangioscopy — an endoscopic method for direct visualization and therapeutic intervention in the bile and pancreatic ducts — offering healthcare providers enhanced visualization¹, maneuverability^1,2, as well as diagnostic and therapeutic capabilities¹ — potentially increasing procedure adoption and enhancing patient care.

The Dragonfly™* pancreaticobiliary endoscope features a fully rotatable, highly flexible shaft^1,2 and a 42% larger working channel diameter vs. the current standard, all within the same compact scope profile.^2-4 These advances allow for the utilization of more robust and durable Electrohydraulic Lithotripsy (EHL) probes^2-10 and 40% larger biopsy samples^2-6,10, that may improve both diagnostic accuracy rates and stone clearance in a single session.

“We are incredibly excited about our collaboration with Medtronic to bring an innovative solution that could improve the outcomes for patients with difficult pancreaticobiliary diseases,” said Jeremy Starkweather, CEO, Dragonfly™* Endoscopy. “We look forward to seeing the Dragonfly™* pancreaticobiliary system reimagine the way Cholangiopancreatoscopy procedures are performed.”

“This collaboration underscores our commitment at Medtronic to leading innovation in gastroenterology, focused not only on patient outcomes but also on clinician satisfaction," said Raj Thomas, president of the Medtronic Endoscopy business, which is part of the Medical Surgical portfolio. “We’re excited about the potential for the Dragonfly™* system to enhance procedural experiences for clinicians and ultimately improve patient care.”

Medtronic will introduce the Dragonfly™* system across selected U.S. academic and clinical centers beginning in 2025. This strategic distribution aligns with Medtronic’s dedication to advancing innovative medical technologies for improved patient care globally.

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 Medtronic 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.

™* Third-party brands are trademarks of their respective owners. All other brands are trademarks of a Medtronic company.

References

1. Dragonfly Medical. Dragonfly Pancreaticobiliary Scope System Marketing Claims Evidence Report. Dragonfly Medical; 2025. Data on file. Accessed April 3, 2025.
2. DFE-IFU-000678 (A) Dragonfly pancreaticobiliary scope IFU. West Valley City, UT: CenterPoint Systems; 2024.
3. Tiwana I. SpyGlass™ Discover Digital Catheter, SpyGlass™ Discover Digital Controller. Silver Spring, MD: U.S. Food & Drug Administration; 2020. Available at: https://www.accessdata.fda.gov/scripts/cdrh/cfdocs/cfpmn/pmn.cfm. Accessed March 11, 2025.
4. Boston Scientific Corporation. SpyGlass™ Discover Digital Catheter. Marlborough, MA: Boston Scientific Corporation; 2025. Available at: https://www.bostonscientific.com/en-US/products/single-use-scopes/spyglass-discover-digital-catheter.html. Accessed March 11, 2025.
5. Boston Scientific Corporation. SpyBite™ Max Biopsy Forceps. 2025.
6. CenterPoint Systems LLC. LUKE BX Single Use Biopsy Forceps Instructions for Use. 2024.
7. Boston Scientific Corporation. Autolith™ Touch Biliary EHL System. 2017.
8. Walz Elektronik GmbH. EL27 Compact Instructions for Use. 2023.
9. Walz Elektronik GmbH. Endoscopical large stone management in Gastroenterology and Urology: Lithotron EL 27 Compact. Walz EHL Electrohydraulic Lithotripsy. 2020.
10. Dryden G, Liu N, Liu D, Raijman I, Appling A, Shah R. Novel large capacity, rotating cholangioscopy forceps for improved tissue acquisition. Gastrointest Endosc. 2024;99(6S):AB677.

Contacts:
Sabrina Zimring
Public Relations
+1-720-774-3454

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