Medtronic Inc. Basic Information, Manufacturing Base, Sales Area, and Its Competitors
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Sr. No. |
Item |
Description |
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1 |
Company Name |
Medtronic Inc. |
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2 |
Website |
www.medtronic.com |
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3 |
Established Date |
1949 |
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4 |
Headquartered |
United States |
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5 |
Market Position/ History |
Earl Bakken, a PhD student in electrical engineering, and his ambitious engineer brother-in-law, Palmer Hermundslie, founded a medical electronics repair firm in 1949. They named it Medtronic. The firm introduced the first battery-powered pacemaker in 1957. Medtronic first introduced the Medtronic-Hall mechanical heart valve in 1977. It introduced the first implanted cardioverter defibrillators in 1993. In 2002, Medtronic created the industry's first remote monitoring system, which was meant to securely communicate data from patient devices to clinicians via the internet. In 2016, its hybrid closed-loop system became the first FDA-approved device to deliver continuous background insulin administration for persons with type 1 diabetes. Since its inception, Medtronic has led the way with groundbreaking health technology. Starting from humble beginnings in a garage workshop, the company has continually reshaped the future of healthcare. Throughout its journey, Medtronic has never stopped inventing, creating, and solving the most pressing challenges in the medical field. |
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6 |
Sales Area |
Worldwide |
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7 |
Manufacturing Location |
Connecticut, Puerto Rico, Mexico, China, Minnesota, Ireland, Dominican Republic, Arizona, Switzerland, California, Massachusetts, France, Italy, Colorado |
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8 |
Ticker |
NYSE: MDT |
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9 |
No. of Employees |
95,000+ |
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10 |
Competitors |
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11 |
CEO |
Geoff Martha |
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12 |
Ownership Type |
Public |
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13 |
Contact Information |
Parkway, Minneapolis, MN 55432-5604, USA Tel: 763-514-4000 |
Business Segment/ Overview:
Medtronic Inc. is involved in the research, design, manufacture, and sale of products to alleviate pain, restore health, and extend life. Until now the company has served over 74 million patients and operates in 150+ countries across the globe. The company has four reportable segments that primarily develop, manufacture, distribute, and sell device-based medical therapies and services: the Cardiovascular
• The Cardiovascular Portfolio is made up of the Cardiac Rhythm & Heart Failure, Structural Heart & Aortic, and Coronary & Peripheral Vascular divisions. The primary medical specialists who use Cardiovascular products include electrophysiologists, implanting cardiologists, heart failure specialists, cardiovascular, cardiothoracic, and vascular surgeons, and interventional cardiologists and radiologists.
• The Neuroscience Portfolio is made up of the Cranial & Spinal Technologies, Specialty Therapies, and Neuromodulation divisions. The primary medical specialists who use the products of this group include spinal surgeons, neurosurgeons, neurologists, pain management specialists, anesthesiologists, orthopedic surgeons, urologists, urogynecologists, interventional radiologists, and ear, nose, and throat specialists.
• The Medical Surgical Portfolio includes the Surgical & Endoscopy and Acute Care & Monitoring divisions. Products and therapies of this group are used primarily by healthcare systems, physicians' offices, ambulatory care centers, and other alternate-site healthcare providers. While less frequent, some products and therapies are also used in home settings.
• The Diabetes Operating Unit develops, manufactures, and markets products and services for the management of Type 1 and Type 2 diabetes. The primary medical specialists who use and/or prescribe Diabetes products are endocrinologists and primary care physicians.
Additionally, the Medtronic Inc. offers radiofrequency ablation (RFA) solutions across various medical fields, including pain management, cardiac arrhythmia treatment, and oncology. For chronic pain relief, the Accurian RF Ablation System delivers targeted radiofrequency energy to disrupt pain signals from nerves. In cardiac care, Medtronic provides RF Ablation Catheters for treating atrial fibrillation (AFib) and other arrhythmias, alongside its Arctic Front Cryoablation Catheter, which primarily uses cryoablation but is part of their broader electrophysiology portfolio. In oncology, the OsteoCool RF Ablation System is designed for tumor ablation, particularly in bone metastases, using targeted energy to destroy cancerous cells. Medtronic's RFA solutions are widely used for precise and effective treatment in these specialized areas.
Radiofrequency Ablation for Pain Management Product Types Specification
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Product |
Product Description |
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OsteoCool 2.0 bone tumor ablation system |
The OsteoCool 2.0 system is an internally cooled radiofrequency (RF) ablation system with four-probe capability to palliatively treat painful bone tumors. The OsteoCool 2.0 RF ablation system helps customers deliver optimal care for the patients faster. OsteoCool 2.0 ablates up to 30% faster than OsteoCool supports the use of four probes simultaneously and delivers a market-leading 20 W of power per channel. The Medtronic bone access tool kit includes a tapered cannula, sharper trocar, and enhanced drill design a system that allows improved access to sclerotic bone. These tools are compatible with the existing OsteoCool RF ablation probes. The tools:
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OsteoCool RF ablation system |
OsteoCool cooled radiofrequency (RF) ablation system that uses simultaneous, dual-probe capabilities and algorithms to treat painful bone tumors. The OsteoCool RF ablation system is cooled radiofrequency (RF) ablation technology that offers simultaneous, dual-probe capabilities for treating painful bone tumors. Coaxial, bipolar technology delivers RF energy to the site and automatically moderates power to keep RF heating within the desired treatment range. This reduces risk of potential thermal damage to adjacent tissue.1 The active tip of the ablation probe is internally cooled with circulating water. RF energy heats the tissue while circulating water moderates the temperature close to the active tip. This combination: Creates large volume lesions without excessive heating at the active tip Minimizes potential for char RF ablation probes are sterile and intended for single use |
Recent Developments:
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Year |
Latest News |
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January 2024 |
Medtronic received CE Mark for its next generation Micra leadless pacing systems Medtronic Inc. has gained the CE (Conformité Européenne) mark for its Micra AV2 and Micra VR2, the next generation of its industry-leading tiny, leadless pacemakers. Micra AV2 and Micra VR2, the world's smallest pacemakers, have a longer battery life and easier programming than previous Micra pacemakers while still providing the many benefits of leadless pacing, such as fewer problems than conventional pacemakers. Medtronic estimates that the Micra AV2 and Micra VR2 batteries will last about 16 and 17 years, respectively, thanks to around 40% greater battery life than prior models. This means that more than 80% of individuals who receive a Micra may only need one device throughout their whole lives. |
Business Strategy
Medtronic Inc., one of the world’s leading medical technology companies, pursues a diversified and innovation-driven business strategy centered on global expansion, value-based healthcare, and portfolio breadth across therapeutic areas. Its strategic focus lies in delivering high-impact solutions that improve clinical outcomes while reducing the overall cost of care, which aligns with the industry shift toward value-based healthcare.
A key aspect of Medtronic’s strategy is innovation through R&D and acquisitions. The company invests heavily in research and development—more than $2 billion annually—to maintain a robust pipeline of advanced technologies in areas such as cardiac rhythm management, spinal implants, diabetes management, and robotic-assisted surgery. For instance, the acquisition of Mazor Robotics in 2018 helped Medtronic enter and lead the robotic spine surgery market, enhancing its surgical offerings and expanding its influence in the operating room ecosystem.
Medtronic also follows a strong global expansion strategy to tap into emerging markets. It has consistently invested in expanding its presence in Asia, Latin America, and Africa through strategic partnerships, local manufacturing, and training programs. In India, for example, Medtronic opened a state-of-the-art R&D center and expanded its Medtronic Innovation Center in Hyderabad, reflecting its long-term commitment to emerging economies.
Furthermore, Medtronic’s strategy emphasizes integrated care models and digital transformation. Through programs like the Medtronic Care Management Services (MCMS), the company leverages remote monitoring and digital platforms to manage chronic diseases such as heart failure and diabetes outside traditional care settings. Its partnership with Fitbit and development of AI-powered platforms for diabetes care showcase its forward-looking approach to digital health.
In summary, Medtronic’s business strategy combines aggressive R&D, strategic acquisitions, global market penetration, and digital integration to create sustainable competitive advantages. These strategies position the company as a leader in driving meaningful innovation in the evolving global healthcare landscape.
Management Change
In June 2024, Karen Parkhill, executive vice president and chief financial officer of Medtronic Inc., has announced her resignation to become chief financial officer at HP Inc.
In June 2023, Medtronic Inc. announced the appointment of Ken Washington, Ph.D., as Chief Technology and Innovation Officer. Dr. Washington will use his extensive experience leading technology development and execution in industries such as robotics, consumer products, automotive, and space to accelerate innovation-driven growth in support of the company's mission to alleviate pain, restore health, and extend life. Dr. Washington will also be a member of the Medtronic Executive Committee.
Author's Detail:
Sneha Mali /
LinkedIn
Sneha Mali is a research analyst working in various domains including the Consumer Goods, market research and transport & logistics and her primary responsibility is to conduct thorough research on various subjects and provide valuable insights to support client requirements. Her knowledge of research methodologies, and data mining which enables me to analyze large data sets, draw meaningful conclusions, and communicate them effectively.Sneha stay up-to-date with the latest research trends, methodologies, and technologies to ensure that her research is accurate, relevant, and impactful.
In her current role, Sneha is committed to continuous learning and staying abreast of emerging trends in research methodologies. Regular participation in workshops, webinars, and industry conferences ensures that her skills remain sharp and relevant. She have demonstrated ability to transform complex data sets into clear and concise narratives that inform key business strategies. Collaborating with cross-functional teams.Sneha remains an invaluable asset in the dynamic landscape of market research.