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About Medtronic, Inc.

Medtronic plc is a maker of products that include those for cardiac rhythm disorders, cardiovascular disease, advanced and general surgical care, respiratory and monitoring solutions, renal care, neurological disorders, spinal conditions and musculoskeletal trauma, urological and digestive disorders, and ear, nose, and throat and diabetes conditions. Medtronic makes defibrillators and pacemakers that issue electrical impulses or shocks to keep hearts beating normally. Its Cardiac and Vascular Group also produces catheters, stents, valves, balloons, and surgical ablation technologies used to treat vascular and heart disease. The company's Restorative Therapies Group makes nerve and brain stimulation devices, implantable drug delivery systems, and surgical devices for ear, nose, and throat (ENT) and spinal conditions. Headquartered in Dublin, Ireland, for tax purposes, the US is Medtronic's primary market which it serves from offices in Minnesota. Medtronic was founded in 1949 and serves hospitals, physicians, clinicians, and patients in more than 150 countries worldwide.


Medtronic divides its business into four segments that develop, manufacture, distribute, and sell device-based medical therapies and services.

The Cardiac and Vascular segment generates around 40% of Medtronic's sales and comprises the three primary divisions, Cardiac Rhythm & Heart Failure Disease Management (CRHF), Coronary & Structural Heart Disease (CSH), and Aortic & Peripheral Vascular Disease Management (APVD). This segment makes pacemakers, defibrillators, heart monitors, and other products used to keep the heart beating properly. The segment also includes minimally invasive technologies to prevent reclogging of arteries and aortic heart valves such as drug-eluting stents, as well as grafts, and balloon systems for non-heart procedures.

Medtronic's Minimally Invasive Therapies Group segment brings in 30% of sales and develops and commercializes minimally invasive treatments for respiratory, gastrointestinal, and renal fields, in addition to areas typically addressed by surgeons. The Restorative Therapies segment houses Medtronic's Spine unit which manufactures spinal devices and implants, surgical instruments, and bone grafting tissue.

The Neuromodulation division makes electrical stimulation devices and drug-delivery systems for conditions such as symptoms of urinary urgency, urinary frequency, and urinary incontinence. Restorative Therapies generates around 30% of sales.

Accounting for more than 5% of sales, Medtronic's Diabetes segment develops and commercializes diabetes treatments such as insulin pump therapy, continuous glucose monitoring, and related software.

Geographic Reach

Medtronic markets its products in more than 150 countries around the globe. It generates more than half its revenue in the Americas, particularly the US; its other three largest markets are China, Western Europe, and Japan.

The company is officially headquartered in Dublin, Ireland, for tax reasons, although practically it is a Minnesota company. Medtronic also maintains sales and administrative offices in the U.S. at 4 locations in 4 states and outside the U.S. at 145 locations in 64 countries. Most of these locations are leased including Connecticut, Minnesota, California, Arizona, Colorado, China, Puerto Rico, Mexico, Italy, Ireland, Dominican Republic, Israel, India, Massachusetts and Switzerland.

Sales and Marketing

Medtronic sells through direct representatives in the US while using a combination of independent distributors and direct marketing methods in overseas markets. Its products are used mainly in hospitals, surgical centers, and alternate care facilities like home care and long-term care facilities. Materials managers, GPOs (group purchasing organizations), and integrated delivery managers are Medtronic's principal marketing targets, who it reaches through third-party channels and some direct sales teams.

The company organizes its marketing and sales teams around physician specialties to focus enable and to develop highly knowledgeable and dedicated sales representatives. The company is not dependent on any single customer for more than 10 percent of our total net sales.

Financial Performance

Medtronic's sales have increased since 2016. However, In 2020 the sales decreased.

In fiscal 2020 the company's revenues declined for about five percent due to its decreased in sales in all the segments particularly in Cardiac and Vascular Group.

Net income grew by just $156 million, or almost five percent. Although, the deferred income taxes was about $1.3 billion.

Medtronic's cash position fell by $253 million during 2020, ending the year at $4.1 billion. Net cash provided by operating activities was $7.2 billion. Investing activities used $3.2 billion mostly in purchases in investments. Financing activities used $4.1 billion.


In terms of strategies, the company ensures products and services by; Therapy Innovation: Delivering a strong launch cadence of meaningful therapies and procedures, Globalization: Addressing the inequity in healthcare access globally, primarily in emerging markets, Economic Value: Becoming a leader in value-based healthcare by offering new services and solutions to improve outcomes and efficiencies, lower costs by reducing hospitalizations, improve remote clinical management, and increase patient engagement.

When it comes to the company's success, it depends on the ability to develop, acquire and market new and differentiated products, technologies and intellectual property, and as a result, the company also faces competition for marketing, distribution, and collaborative development agreements, establishing relationships with academic and research institutions and licenses to intellectual property. In order to continue to compete effectively, the company continues to create, invest in or acquire advanced technology, incorporate this technology into its proprietary products, obtain regulatory approvals in a timely manner, and manufacture and successfully market our products.

In response to the pandemic, Medtronic introduced new solutions to aid and track patients for COVID-19. The company utilized Virtual Care Evaluation and Monitoring solutions accessible to U.S. health systems, health plans, and employers. These solutions will avert and minimize dilemmas particularly in severely ill patients, employees, customers and unnecessary exposure to the virus.

Mergers and Acquisitions

In early 2019 Medtronic agreed to buy EPIX Therapeutics, which makes the DiamondTemp cardiac ablation system that has been approved in Europe. It plans to use the acquisition to build up its portfolio of devices that treat heart arrhythmias. In addition, the company completed the acquisition of Titan Spine. This opens opportunities to combine interbodies, screws, rods, biologics and allowing technologies and tools to navigate and develop integrated procedural solutions.

In 2020, Medtronic plans to acquire Medicrea, a company known for the transformation of spinal surgery utilizing artificial intelligence in terms of executing specific implants and predictive modeling.

Company Background

Medtronic got its start treating heart disease -- it was a leader in the development of pacemakers in the 1950s -- and a majority of its revenue still comes from sales of products used to treat heart or vascular conditions. However, it has expanded its reach into the rest of the human body, and the rest of the world, by offering products that treat neurological, musculoskeletal, and metabolic conditions as well.

In early 2015 Medtronic paid $43 billion for fellow medical device maker Covidien. In addition to expanding Medtronic's global footprint, the move also let Medtronic easily move its headquarters to Covidien's home in tax-friendly Ireland.

Medtronic, Inc.

710 Medtronic Pkwy
Minneapolis, MN 55432-5604
Phone: 1 (763) 514-4000

Firm Stats

Employer Type: Privately Owned
Executive Vice President and Group President, Cardiac and Vascular Group of the Company and of Medtr: Michael J Coyle
Chief Engineer, Crdm Diagnostics And Monitoring: Grant Neitzell
President, Minimally Invasive Therapies Group, Asia Pacific: Roy Noda
Employees (This Location): 4,300
Employees (All Locations): 49,000

Major Office Locations

Minneapolis, MN

Other Locations

Little Rock, AR
Tempe, AZ
Emeryville, CA
Goleta, CA
Irvine, CA
Milpitas, CA
Mira Loma, CA
Newark, CA
Northridge, CA
San Diego, CA
Santa Ana, CA
Santa Rosa, CA
Boulder, CO
Parker, CO
North Haven, CT
Washington, DC
Jacksonville, FL
Atlanta, GA
Peachtree City, GA
Clive, IA
Crystal Lake, IL
Lombard, IL
Louisville, KY
Chicopee, MA
Danvers, MA
Beltsville, MD
Grand Rapids, MI
Novi, MI
Holdingford, MN
Minneapolis, MN
Plymouth, MN
Saint Paul, MN
Woodbury, MN
Hazelwood, MO
Olive Branch, MS
Charlotte, NC
Mooresville, NC
Swedesboro, NJ
Albuquerque, NM
Clarence Center, NY
Cleveland, OH
Tulsa, OK
Greenwood, SC
Timmonsville, SC
Memphis, TN
Signal Mountain, TN
Redmond, WA
Singapore, Singapore