“Market Cap $61.66 B As of May 2014
At a Glance
- Industry: Medical Equipment & Supplies
- Founded: 1949
- Country: United States
- CEO: Omar Ishrak
- Website: www.medtronic.com
- Employees: 46,000
- Sales: $16.9 B
- Headquarters: Minneapolis, Minnesota
#255 Global 2000
- #564 in Sales
- #177 in Profit
- #636 in Assets
- #147 in Market value
Medtronic, Inc. is a medical technology company, which provides innovative products and therapies for use by medical professionals to meet the health care needs of their patients. Its primary products include those for cardiac rhythm disorders, cardiovascular disease, neurological disorders, spinal conditions and musculoskeletal trauma, urological and digestive disorders, diabetes, and ear, nose, and throat conditions. The company operates through two business segments: Cardiac & Vascular Group and Restorative Therapies Group. The Cardiac and Vascular Group segment operates through four businesses: Cardiac Rhythm Disease Management, Coronary, Endovascular and Structural Heart. The Cardiac Rhythm Disease Management business develops, manufactures, and markets products for the diagnosis, treatment, and management of heart rhythm disorders and heart failure, including implantable devices, leads and delivery systems, products for the treatment of atrial fibrillation, and information systems for the management of patients with cardiac rhythm disease management devices. The Coronary business comprises of therapies to treat coronary artery disease and hypertension. Its products contained within this business include coronary stents and related delivery systems, along with a broad line of balloon angioplasty catheters, guide catheters, guidewires, diagnostic catheters, and accessories. The Endovascular business comprises of a comprehensive line of products and therapies to treat abdominal and thoracic aortic aneurysms and peripheral vascular disease. Its products include endovascular stent graft systems, embolic protection systems, and stent systems for the treatment of narrowed iliac arteries. The Structural Heart business offers a comprehensive line of products and therapies to treat a variety of heart valve disorders. Its products are used for the repair and replacement of heart valves, perfusion systems, positioning and stabilization systems for beating heart revascularization surgery, and surgical ablation products. The Restorative Therapies Group segment operates through four businesses: Spinal, Neuromodulation, Diabetes and Surgical Technologies. The Spinal business develops, manufactures, and markets a comprehensive line of medical devices and implants used in the treatment of the spine and the musculoskeletal system. Its products and therapies treat a variety of conditions affecting the spine, including degenerative disc disease, spinal deformity, spinal tumors, fractures of the spine, and stenosis. The Neuromodulation business develops, manufactures, and markets medical devices for the treatment of chronic pain, movement disorders, psychological disorders, and urological and gastroenterological disorders. The Diabetes business develops, manufactures, and markets advanced, integrated diabetes management solutions that include insulin pump therapy, continuous glucose monitoring systems, and therapy management software. The Surgical Technologies business develops, manufactures, and markets products and therapies to treat diseases and conditions of the ear, nose, and throat and certain neurological disorders. In addition, the business develops, manufactures, and markets image-guided surgery and intra-operative imaging systems that facilitate surgical planning during precision cranial, spinal, sinus, and orthopedic surgeries. Medtronic was founded by Earl E. Bakken and Palmer J. Hermundslie on April 29, 1949 and is headquartered in Minneapolis, MN.“
Today, we are the world’s largest medical technology company, but we come from humble beginnings. Medtronic was founded in 1949 as a medical equipment repair shop by Earl Bakken and his brother-in-law, Palmer Hermundslie.
Did these two men set out to change medical technology and the lives of millions of people? No. But they did have a deep moral purpose and an inner drive to use their scientific knowledge and entrepreneurial skills to help others.
That spirit – combined with our founders’ personal integrity and passion – became our guiding philosophy and, ultimately, theMedtronic Mission.
Our first life-changing therapy – a wearable, battery-powered cardiac pacemaker – was the foundation for many more Medtronic therapies that use our electrical stimulation expertise to improve the lives of millions of people.
Over the years, we developed additional core technologies, including implantable mechanical devices, drug and biologic delivery devices, and powered and advanced energy surgical instruments. Today, our technologies are used to treat nearly 40 medical conditions.”
*Informations from Forbes.com and Medtronic.com
**Video published on YouTube by “MedtronicCorp“