"The creation of this new business within Medtronic underscores our commitment to develop innovative services and solutions that create efficiencies, address costs, and improve patient access and outcomes for a broader set of hospital customers," CEO and Chairman Omar Ishrak said in a statement. "With today's announcement, we have now formed a Hospital Solutions business aimed at addressing efficiency and operational improvement exclusively focused on delivering better clinical and economic outcomes and value for hospitals." The company said the first goal of its new business is to offer services throughout Europe to manage and modernize catheterization lab (cath-lab) facilities. Medtronic said it is partnering with NGC because the company specializes in managing outsourced cath-labs in Italy. Under the terms of Medtronic's agreement, NGC's business will expand beyond Italy.