Company Profile
Medtronic, Inc. is a global leader in medical technology, redefining how technology is used in the management of chronic disease. Our understanding of human physiology yields a range of therapies that are transforming the treatment of chronic conditions including heart and vascular diseases, diabetes, neurological disorders, and spinal conditions, for more than 7 million patients worldwide each year.
Medtronic’s best known products include implantable pacemakers and cardioverter defibrillators (ICDs), heart stents and valves, spinal discs, insulin pumps and continuous glucose monitoring systems, deep brain stimulation, neurostimulation for chronic pain, and remote monitoring and diagnostic products for chronic disease management.
Headquartered in Minneapolis, Minnesota, USA, Medtronic employs 40,000 people. The company operates regional headquarters in Switzerland and Singapore, and develops, manufactures and markets medical devices in more than 120 countries. Medtronic stock is traded on the New York Stock Exchange under the ticker symbol MDT.
In fiscal year 2010, we introduced a corporate organizational structure comprised of two operating groups. The first brings Cardiac Rhythm Disease Management (CRDM), CardioVascular and PhysioControl together as our Cardiac and Vascular Group. The second groups Spinal and Biologics, Neuromodulation, Diabetes, and Surgical Technologies into our Restorative Therapies Group.
This structure advances our goal of operating as One Medtronic, as the businesses within each group benefit from integrated growth plans and the alignment of commonalities in technology and customer groups. In addition, four cross-business groups drive One Medtronic strategies that allow us to leverage our size, scale, capabilities, information, best practices, technologies, people, and common systems and processes in ways that allow us to realize synergies that only Medtronic can bring to bear in the service of our customers and our patients.
Medtronic International leads operations, sales, and distribution outside the United States.
Quality and Operations drives continuous process improvement that allows us to achieve the greatest product quality and provides cost-effective shared business services, such as IT, human resources, and finance.
Strategy and Innovation coordinates research and development capabilities across the company and evaluates growth opportunities to strategically allocate our investment dollars.
Healthcare Policy and Regulatory provides a strategic approach to policy issues that affect the entire medical technology industry, such as regulatory approvals, reimbursement, and cost-benefit analysis.
Other significant business developments during fiscal year 2010 included:
- Opening of our new International/Asia Headquarters in Singapore and the establishment of Medtronic Singapore Operations, a new manufacturing facility that will produce CRDM devices beginning in 2011.
- Acquisition of Invatec, a developer of innovative medical technologies for the interventional treatment of cardiovascular disease, and two affiliated companies: Fogazzi, which provides polymer technology to Invatec; and Krauth Cardiovascular, which distributes Invatec products in Germany.
- Completion of a brand refresh and the launch of our first company-wide marketing campaign “Innovating for Life” to reinforce key attributes of our brand: innovation and leadership.