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Medtronic plc

MDT

Health Care

1

exclusion reason

1 theme

Animal Welfare (1)
MDT Health Care Current as of March 2026

This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.

Animal Testing & Research
Since Jul 28, 2021

Medtronic plc develops, manufactures, and sells medical devices, a sector where animal testing is often required for regulatory approval and product development. The company's own policy states that research using animals is conducted after approval from an Institutional Animal Care and Use Committee (IACUC), confirming that animal testing is an active part of its process. Published studies on Medtronic's medical devices, such as drug-coated balloons and electrodes, explicitly reference the use of animal models like porcine tissue in development and evaluation.

The company has been the subject of public advocacy campaigns concerning animal testing. In 2008, PETA protested Medtronic's outsourcing of animal testing to countries with perceived lax regulations. Further, analyses of corporate lobbying, such as the study "Lobbying Against Compassion," identify Medtronic among companies engaged in advocacy platforms that support animal research. While the company operates in a highly regulated industry that mandates certain animal testing, its inclusion in such advocacy efforts indicates a proactive stance in maintaining the regulatory framework that requires animal use.

Research Sources 1 organization
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External

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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.

This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.

Ethical Capital LLC is a state-registered investment adviser in Utah (CRD #316032). Registration does not imply a certain level of skill or training.