The Karolinska Institute in Sweden is testing out a drone that can deliver a defibrillator to a someone suffering from cardiac arrest, BBC reports.

Trial flights have shown the delivery drones can reach a person in need four times faster than an ambulance. Following a cardiac arrest a person's chances for survival drop by 10% for every minute that they go without CPR or defibrillation.

Abbott Laboratories (ABT - Get Report) and Medtronic (MDT - Get Report) are two medical device companies that make defibrillators and could end up benefiting from these tests should the companies decide to look into their own defibrillator drones.

BBC News - The defibrillator drone https://t.co/FfCtffKvru #ThursdayThoughts

— AfPP (@SaferSurgeryUK) June 29, 2017

What's Hot On TheStreet

Happy birthday iPhone: Apple's (AAPL - Get Report) iPhone turns 10 years old today! What an amazing product Steve Jobs and his team created. But, as TheStreet's Natalie Walters points out, the next five years for Apple could be radically different. Sales could well be boosted by new, non-iPhone products such as smart glasses and autonomous car technologies. Walters also mentions that iPhone demand may peak in 2019.

Blue Apron falters: Blue Apron (APRN - Get Report) plans an initial public offering on Thursday seeking a valuation of about $2 billion. That's down significantly from a $3.2 billion valuation it had previously hoped to achieve. In the public sphere, the New York-based meal kit delivery service's IPO comes at an unsettling time, points out TheStreet's Ron Orol, as the markets begin to digest Amazon Inc.'s AMZN mega $13.4 billion acquisition of Whole Foods Market Inc. (WFM) . Moreover, investors have questioned Blue Apron's business model -- it hasn't turned a profit since 2012 due to rising marketing and distribution costs.

Regulators outsmarted: With questions swirling whether its combination would get approved by regulators, Walgreens Boots Alliance (WBA - Get Report) and Rite-Aid (RAD - Get Report) struck a clever deal on Thursday. Walgreens will pay $5.175 billion to Rite-Aid in cash and receive 2,186 stores in return. Walgreens will also pay Rite-Aid a $325 million termination fee for its planned buyout of the company.

Walgreens will be an even bigger drug-selling beast, with more than 15,000 stores spanning 11 countries. As for Rite-Aid, it will be left with about 2,300 stores once the deal closes in six months.

Abbot Laboratories, Apple and Walgreens Boots Alliance are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells ABT, AAPL and WBA? Learn more now.

Editors' pick: Originally published June 29.