>> yes, one of the first i helped to start was a company that was acquired by medtronic, which is the largest medical device company. this company designed minimally invasive open heart surgery techniques. if you had arhythmia treatment, about as likely done with a product developed by medtronic. >> what is the regulatory path like for a product like this? >> that is a great question. it's one of the things i want to take this opportunity to say how could -- how wonderfully collaborative the usda and the at -- want health care for everyone, dna are. it has been approved by both. it has been tested for thousands of days and hundreds of people. it has an incredibly wonderful safety profile. it is very accurate. if you swallow the digital medicine, it will be detected 99% of the time down to the individual pill with 100% accuracy. >> where is this manufactured? >> we had a manufacturing plant in california. it is fully built. we are in the process of writing automation to the facility. the goal is to make billions of these products in that facility. >> billions in that one facility? >> y

if you had a wide arrhythmia treatment, that was likely done by a product developed by medtronics. >> host: what's the regulatory path like for a product like this? >> guest: so that's a great question and one of the things i want to take the opportunity to say here is how terrifically collaborative the u.s. fda and the european commission have been working with us. what you're holding there is a cleared product by the u.s. fda, it's approved by the ema, so these products are ready to go to market. this isn't some future thing that may happen in a few years' time. it's been tested for thousands of days in hundreds of people. it has an incredibly positive safety profile. it's very, very accurate. if you swallow a digital medicine, our evidence suggests that we will detect it 99.5% of the time and identify it down to the individual pill with 100% accuracy. >> host: where are these manufactured? >> guest: so we have a manufacturerring plant in hayward in california, and it's fully built. we're in the process of of driving automation in that facility, but the goal here is to be able to ma

we're talking to medtronic chairman and ceo about this, and i'd really wanted to know from you whoseedical device stand point? >> well, what system specifically? i think the u.k., for example, in many ways has an extremely good health care technology assessment group which then recommends devices or therapies basedded on grounded economic value which are then deployed. it's not perfect because the deployment mechanism is not perfect in the u.k., and, you know, sometimes the issues of too much cost control and others. there could be other systems as one as far away as india where the patient accountability, because the patient pay system, it is big, and through that, you actually drive competition between different health care providers, and through that, get high quality and low cost so, you know, what i look for are a number of things. where does the health care system value outcomes over procedures? where does the health care system give patients some level of transparency and accountability, and, finally, is there a system where the government really, main authorities are really o

. >> caller: my stock is medtronic, mdt? >> no, i don't think they have enough in their port knofoalio, that's why we by becktin. >> caller: i own shares, i was wondering if you think i should keep my shares in geo. >> it's very difficult for me to gauge. every time i think a state is going to privatize, they don't. that stock's at a 52-week high. i would snitsle a little. let's go to elizabeth in florida. >> caller: hey, jim. i'm calling about your little darling and mine, han celestial. most of december, it was in a down flow but i never understood why. seemed like other stocks like whole foods were doing well. today i felt like a bobble head, up down, up down. >> i think the shorts are all over this thing. i usually don't blame the shorts for anything. hough, i think hain is doing well and they're returning capital better to shareholders at whole foods. i think hain is a buy. don't be persuaded by the intra day. i think ultimately they will head higher. john in new jersey. john. >> caller: hello. >> hello. >> caller: my s

first, we are talking to the medtronics chairman and ceo. plus coca-cola's ceo. what are you doing? nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money by using fedex ground and buy my own supplies. that's a great idea. i'm going to go... we got clients in today. [ male announcer ] save on ground shipping at fedex office. ♪ [ male announcer ] this is karen anjeremiah. they don't know it yet, but they' gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. >> welcome back. i'm david asman along with yes this is liz claman. she's staying for another hour. i had to twist her a

medtronic is one company in the med tech space we like quite a bit.t two years it has been suffering from secular growth deceleration. but you have had some cost cutting going on here. we think if you need a pacemaker, if you need sort of some spinal device that is not going to go anywhere. the concern in the entire sector has been around pricing and that information is beginning to clarify. liz: omar is running that company, a super smart guy. he is ready to accept and deal with the medical device tax. here is the three-month chart. looks absolutely gorgeous. let me get to robert luna. while eugene believes we'll see a six to 7% correction, you tell me what you foresee. >> we think you're probably facing more like a 3 1/2 to 4% correction and we're just looking now on a short-term basis primarily based off the 50-day moving average which which has been good support for the s&p 500. that is something we're expecting to happen probably within the next month. the sequestration could be a catalyst for that. but we're really bullish on the overall market.

bill george, the former ceo of medtronic and a harvard business school professor.d to see you both. max, let's go to you first. the business roundtable argues that the demographics have completely changed. we now live much longer. why shouldn't we raise the age for eligibility? >> well, you know, this plan is called a plan to reform social security and modernize medicare. i always get nervous when i hear those terms because it's really a plan to cut benefits and raise the costs for health care for seniors. it really doesn't -- doesn't make sense to have seniors pay more and get less. the plan talks about how people are living longer. that's not true for all populations. and we need to improve these benefits. we need to add benefits to medicare, not cut the medicare program. >> no, but can you actually say that it's not true though, because when you look at the actual -- the actual ages, when social security first came out, there was a -- a living standard expectation between 60 and 70, and now women are living to 81, and i believe the life expectancy for a man is 7

medtronic, a minnesota institution that has pioneered medical devices for years, started in a garage, started by the child of an immigrant. so why would we want to prevent the next person who would come in who could cure cancer, who would create a new energy source, who would bring in new means of communication to our country? this bill is about moving our country forward. this bill is about competing in the world economy. and if we can do it in baseball and basketball, and i would add, senator rubio, hockey, we can do it in engineering, science, technology and math. and so i thank my colleagues and turn it over to senator rubio. mr. rubio: mr. president? the presiding officer: the senator from florida. mr. rubio: thank you. and just let the record reflect that i did not mean to offend hockey fans. on the contrary, we have -- we have two hockey teams -- we have the florida panthers and the lightning in the tampa bay area who actually have won the stanley cup before, and the panthers in the play-offs last year. so we like hockey, too, although you can't play it outdoors in florida. but

they obviously compete with medtronics and boston scientific's. i now want to show you transocean.t 4.7%. good news there for them. the department of justice expected to announce a settlement today. this is according to sources who are familiar with the talks. if you are a bowl out there got a six-point loss on the dow right now is pretty good. we have next reviews on the job claims. adp did better than expected. we are waiting for our monthly jobs report. we have seen auto sales doing very well. ford and gm looking very good today. hitting new 52 week highs. those are a couple i continue to follow. connell: we have had this morning from moody's that more action needs to be taken in washington beyond the fiscal cliff deal that was passed this week. john, you cannot speak specifically to what moody's may do on the credit rating. it is a very important issue for you to look at as an economist or is it? >> well, i would rather see the u.s. avoid a credit rating downgrade. through our progress through deficit reduction. that will probably require extra effort at reducing long-term gove

medtronic, a minnesota institution of medical devices for your started in a garage, started by the child of an immigrant. why would we want to prevent the next person who is common to cure cancer, created new energy source, who would ring a new means of communication to our country. this bill is about moving our country forward. this bill is about competing in the world economy and if we can do in baseball and basketball and it had senator rubio, hockey, we can do in engineering, science, and technology. i think that colleagues and turn it over to senator rubio. >> mr. president. >> senator from florida. >> let the record reflect to did not mean to offend hockey fans. the florida panthers and the lightning tampa bay area won the stanley cup, so we like hockey, too, although you can play it outdoors in florida. in any event, the point is well taken that we want the best and brightest. the one point i want to make, the one thing i picked up on in general and the last 24 to 48 hours is how important it is inaccurate information reached the american people about what it is for working on and

in november -- not just latinos -- believes the deportation policies your group has advanced and medtronic was talking about is a fantasy. other people believe what it would take -- 11 million people that are spouses or family of united states citizens and dragged them out of the country forcefully is not something the country is ready to see. others think it does not make sense. it is a fantasy. let's try to fix it. let's pressure congress to get this done. host: let's take a look at some of those numbers on deportations. host: the issue of the 2012 election. let's look at what latino voters said was important to them. host: calvin is our next caller from florida. are you?how or y host: turn off your tv. caller: i am hearing double talking. if she was spending so much time improving her country as she is trying to improve ours we would get along better. host: do you have more? caller: if we would put the illegal immigrants in the military then they would learn english. host: a little hard to hear because he had his tv on. he also talked about "your home." tell us about your story. guest:

medtronic am a minnesota institution that has pioneered medical devices for years, started in a garagetarted by the child of an immigrant. so why would we want to prevent the next person who would come in who could cure cancer, who could create a new energy source, who would bring in new means of communication to our country? this bill is about moving our country forward. this bill is about competing in the world economy, and if i can do it in baseball and basketball, and i would add, senator rubio, hockey, we can do it in engineering science technology and math. and so i thank my colleagues and turn it over to senator rubio. >> just let the record reflect -- >> ththey will begin debate with the general speeches until about 11:30 a.m. eastern this afternoon at 2:30 p.m. massachusetts senator john kerry will give his farewell address. yesterday his colleagues confirmed him to be the next secretary of state by a vote of 94-3. he could be sworn in as early as friday which be secretary clinton's last day on the job. we are just funny how you can also see a bipartisan gun safety bill introd

so companies like intuitive surgical and medtronic, they were stocks investors were watching closely., the sigh of relief may only be temporary while spending cuts won't take immediate effect, they will be revisited down the group. so this sa group we really need to watch. >> jackie, thank you very much. let's get more perspective from someone on the front lines of the industry. here in a first on a cnbc interview, jonathan bush, chairman and ceo and president of athenahealth. welcome to the program, sir. >> good to see you there. nice to have you have me on. >> within the deal that we have, and it sa long deal, over 250 pages, we're not going to get the cuts on the medicare physician payments, which a lot of people were concerned about. but in order that the doctors don't get their income cut, it would appear they've done a deal to effectively rob the hospitals in order to pay for the fiscal cliff fall. that certainly had the federation of american hospitals, as putting it, specifically there is a repricing of end stage renal disease payments, to save $5 billion, and other measures w