On 1st Aug 2018, Google's Search Liaison account confirmed a broad core algorithm update: "This week we released a broad core algorithm update, as we do several times per year."
Google repeated its standing core-update guidance that there is "no 'fix' for pages that may perform less well other than to remain focused on building great content."
Google confirmed only a routine core update with no fix beyond building great content. No formal end date for the rollout was ever announced.
The "Medic" name came from the SEO community, not Google. Barry Schwartz surveyed more than 325 affected domains for Search Engine Land.
He found nearly half were in the medical and health space. YMYL (your money or your life) pages were heavily represented, and the nickname stuck.
Google never described the update as targeting health or medical sites. The concentration is a community finding from that coverage.
Because it was a broad core update, Google's advice was the same as for every core update since. Audit pages that lost visibility against the self-assessment questions in the core updates help pages.
Improve overall content quality. Real recovery usually registers at a later core update.
Our recovery guide covers the sequence.