While weathering a 34.5 percent drop in shares since its last earnings report, Medtronic has taken steps to aid COVID-19 relief efforts.
A timeline of key updates:
March 18: Medtronic commits to doubling its global ventilator production to support the needs of patients and health systems amid the COVID-19 pandemic. The company's production has already increased by more than 40 percent.
March 20: Medtronic CEO Omar Ishrak says the company is on track to meet its weekly ventilator production goal.
March 21: Medtronic connects with Tesla CEO Elon Musk about ramping up ventilator production, and they agree to work together.
March 25: Medtronic's charitable arm pledges an additional $10 million to COVID-19 relief efforts. Total contributions by Medtronic and the Medtronic Foundation now amount to $11.2 million, which includes cash contributions to over a dozen health and community nonprofits.
March 27: Medtronic launches two platforms for at-home COVID-19 symptom monitoring and support.