“In terms of the impact on total Medtronic earnings power, the separations are going to have minimal impact.”

In context

“as kind of overwhelmed for a while by supply chain challenges. But as those mitigate, you are starting to see the impact of some of the changes we made. Matt Miksic: Thanks again. Geoff Martha: Thanks Matt. Next question please, Brad. Operator: The next question comes from Josh Jennings at Cowen and Company. Josh, please go ahead. Josh Jennings: Good morning. Thanks for taking the questions. I was hoping to just ask about the JV. We don’t have JV in the patient monitoring and respiratory spin. Just how we should be thinking about the impact to, I guess standalone Medtronic earnings in ‘24, either from execution of those two moves or just any headwinds in terms of the earnings power in ‘24 to just the initial staging of getting to the finish line on both of those two…? Karen Parkhill: Yes. In terms of the impact on total Medtronic earnings power, the separations are going to have minimal impact. So – and in terms of staging the moves so that we have minimal impact or disruption across the company, we have been very focused on that and have strong teams in place that are managing these separations really well. And we purposely put those teams in place as part of our new operating model. As we make these portfolio moves, we are focused on being best-in-class in how we do it. Josh Jennings: Thanks a lot. Just a follow-up on the patient monitoring and respiratory spin. Is it possible that an unsolicited – a suitor could come into play? And how should investors think about the kind of potential for a parallel path to open up where you are moving forward a spin, but there could be potential suiters coming into the – kicking the tires on those two businesses? Thanks for taking the quest”