Today, Medtronic Australasia Pty Ltd (Medtronic) was honoured to be recognised as one of Australia and New Zealand’s Most Innovative Companies. The prestigious annual list, published by The Australian Financial Review and Boss Magazine, is based on a rigorous assessment process managed by Australia’s leading innovation consultancy, Inventium, in conjunction with a panel of industry expert judges. For the first time in 2019, organisations were ranked directly against their peers across ten industry lists. All lists can be viewed here.
Medtronic ranked #3 on the Health Industry list, from over 800 nominated organisations across Australia and New Zealand. The assessment measures a top innovation implemented in the past twelve months. Specifically, the judges look at how valuable the problem is that the innovation is solving, the quality and uniqueness of the solution, and the level of impact that the innovation has had. Inventium also assesses internal elements such as innovation culture, strategy, resources and process, which demonstrate a sustainable and repeatable approach to innovation.
Medtronic was recognised for its MiniMedTM 670G system launched in early 2019 – an insulin pump system which automatically self-adjusts to deliver people living with type 1 diabetes precise amounts of insulin when they need it. Medtronic also made the list thanks to the exceptional innovation practices adopted by the organisation like fostering a strong internal culture of innovation and engaged employees as part of their leadership expectations and employee development; as well as supporting local medtech incubators and STEM initiatives with local schools and universities.
“Since 1949, meaningful innovation has been etched into everything we do. This spirit of innovation is evidenced in our technologies, and the way we show up to work every day to improve community health outcomes,” said Tim Fortin, Vice President and Managing Director, Medtronic Australasia.
“Globally our therapies help more than two people every second, delivering on our Mission to alleviate pain, restore health, and extend life. At Medtronic, we believe patient-focused innovation – and strong partnerships – remain key to an even better, more impactful future; and that nurturing an innovation mindset supports our team to operate at the highest standards when challenging the status quo to go beyond medical devices and deliver better outcomes to more patients more efficiently.”