Medtronic is a company providing medical technology, service and solutions to treat chronic diseases that is headquartered in Minneapolis, Minnesota and was founded in 1949 by Daniel Grossman, Earl Bakken, Palmer Hermundslie, and Patrick Wells.
Medtronic is among the largest medical device companies in the world. With over 90,000 employees and operations in 150 countries. Medtronic provides products for treating many health conditions including cardiac devices, cranial and spine robotics, insulin pumps, surgical tools, patient monitoring systems, and more.
Medtronic was founded in 1949 as a medical equipment repair shop operating out of a Minneapolis garage. Highlights from the company's history include:
- 1957 - Created the first external, wearable, battery-powered, transistorized heart pacemaker, and commercialized the first implantable pacemaker in 1960.
- 1977 - Introduced the prosthetic heart valve.
- 1983 - Expanded into neuro-stimulation.
- 1999 - Expanded into spinal care.
- 2001 - Expanded into diabetes care
- 2015 - Acquired Covidien a manufacturer of medical devices and supplies.
- 2016 - Introduced the world's smallest pacemaker and the first hybrid closed-loop insulin delivery.
- 2017 - Introduced the world's smallest implantable spinal cord stimulator.
- 2019 - Launched Mazor X Stealth Edition system for robotic-assisted spine surgery.
Medtronic announced on March 18, 2020 they have increased the production of their ventilators by 40%, and plan to double their manufacturing and supply capacity of ventilators in response to the COVID-19 pandemic. The company will double their employees focused on manufacturing ventilators and add additional ventilator productions shifts to help increase its overall ventilator manufacturing capacity. The executive vice president and president of the Minimally Invasive Therapies Group at Medtronic, Bob White, made the following statements regarding the COVID-19 pandemic and the company's response:
Medtronic recognizes the demand for ventilators in this environment has far outstripped supply. “No single company will be able to fill the current demands of global healthcare systems. However, with all manufacturers increasing their production and through partnerships with governments, hospitals and global health organizations, Medtronic is committed to getting more ventilators into the market and to the right locations in the world to help doctors and patients dealing with COVID-19.
On August 15, 2016 Medtronic announced raising $20 million in post-ipo equity funding from Trade Capital Funding.
Medtronic announces a $337 million product investment from Blackstone Life Sciences to expand development of future diabetes technologies.
Philips announced collaboration with Medtronic to further advance the image-guided treatment of atrial fibrillation
Royal Philips announced a collaboration with Medtronic to further advance treatment of paroxysmal atrial fibrillation (PAF), a heart rhythm disorder.
Medtronic (NYSE:MDT) said today that it closed the $1.7 billion acquisition of Mazor Robotics (NSDQ:MZOR) and its robot-assisted surgery platform, capping the buyout with the announcement that their first jointly produced product won an FDA nod.
With today's announcement, in bringing the two companies together Medtronic aims to accelerate the advancement and adoption of robotic-assisted surgery in spine for the benefit of patients, providers, and the healthcare system more broadly," restorative therapies president Geoff Martha said in prepared remarks.
Medtronic raises a $120,000 seed round.
Medtronic raises a $8,600,000 series B round.
Medtronic raises a $18,730,400 series A round from Wellington Partners.
Medtronic raises a $2,399,250 series A round.
Medtronic raises a $15,000,000 series D round from Greenspring Associates, Delphi Ventures, Sutter Hill Ventures, Highland Capital Partners and Alloy Ventures.
Medtronic raises a $14,000,000 series B round from Early Stage Partners and Emergent Medical Partners.
Medtronic raises a $21,000,000 series C round from Lehman Brothers and Venrock.
ana marquez fernandez
Correction: Medtronic Continuing to Increase Ventilator Production to Address COVID-19 Pandemic
March 18, 2020
Meditronic Explores The Next Frontier In Healthcare: Regenerative Medicine
Documentaries, videos and podcasts
- Cluster: BiotechnologyA cluster of topics related to biotechnology.
- Cluster: Stem cell technologyTechnology used for isolating, generating, growing and controlling the differentiation of stem cells into specialized cells and the application of stem cell technology for medical and non-medical purposes such as producing meat through cellular agriculture.
- Cluster: COVID-19A cluster of topics related to COVID-19. COVID-19 is the abbreviated name for coronavirus disease 2019, a respiratory disease caused by a novel coronavirus strain called SARS-CoV-2. COVID-19 was first detected in Wuhan City, China and the outbreak was declared a pandemic on March 11, 2020 by the WHO.
- BiotechnologyBiotechnology can refer to the application of science and technology to living organisms or the use of living organisms, their parts, products or models thereof to solve a problem, produce knowledge or produce goods and services. Biotechnology may involve the alteration of living or non-living materials.