GoldenGolden
Advanced Search
Medtronic

Medtronic

A company providing medical technology, service and solutions to treat chronic diseases.

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.

History

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.
COVID-19 response

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.
Funding
Post-IPO equity

On August 15, 2016 Medtronic announced raising $20 million in post-ipo equity funding from Trade Capital Funding.

Timeline

April 26, 2021
Medtronic announces a partnership to interface Surgical Theater's SyncARTM augmented reality (AR) technology with Medtronic's StealthStationTM S8 surgical navigation system.
July 15, 2020
Medtronic says it aims to acquire Medicrea, maker of patient-specific, 3D-printed spine implants.

June 15, 2020
Medtronic announces a $337 million product investment from Blackstone Life Sciences to expand development of future diabetes technologies.
May 9, 2019
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.

December 19, 2018
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.

January 4, 2013
Medtronic raises a $120,000 seed round.
August 24, 2012
Medtronic raises a $8,600,000 series B round.
June 1, 2011
Medtronic raises a $18,730,400 series A round from Wellington Partners.
March 7, 2011
Medtronic raises a $2,399,250 series A round.
July 14, 2010
Medtronic raises a $15,000,000 series D round from Alloy Ventures, Delphi Ventures, Greenspring Associates, Highland Capital Partners and Sutter Hill Ventures.
Page 1 of 2

Funding rounds

Acquisitions

People

Name
Role
LinkedIn

June Fujimoto

Employee

Sheri Bly

Employee

Aaron Schaefer

Employee

abhimanyu bari

Employee

Abhishek Sood

Employee

Adam Abdool

Employee

Adeesh Agarwal

Employee

aditi joshi

Employee

Aditya Patel

Employee

Adlai Howe

Employee

Ajinkya Joglekar

Employee

Alejandro Salcedo

Employee

Alex Clements

Employee

Alexandra Jones

Employee

Alexandra Jones

Employee

Alexandre Paute

Employee

Alexis Waxweiler

Employee

Allison Braly

Employee

Amar Kanwal

Employee

Ameet Kamath

Employee

Amichai Vardi

Employee

Amith Wijesuriya

Employee

Amos Daskal

Employee

ana marquez fernandez

Employee

Ana Romero

Employee

Page 1 of 23
...

Further reading

Title
Author
Link
Type
Date

Correction: Medtronic Continuing to Increase Ventilator Production to Address COVID-19 Pandemic

Medtronic plc

Web

March 18, 2020

Meditronic Explores The Next Frontier In Healthcare: Regenerative Medicine

Medtronic

Web

Documentaries, videos and podcasts

Title
Date
Link

Companies

Company
CEO
Location
Products/Services

News

Title
Author
Date
Publisher
Description
Conor Hale
October 11, 2021
FierceBiotech
Medtronic has secured European approval for its Hugo surgical robot, clearing the way for the system to make its continental debut in multiple countries.
Conor Hale
October 1, 2021
FierceBiotech
Medtronic unveiled three new products that it's adding to its portfolio of tools for minimally invasive spine surgery. The latest offerings focus on TLIF procedures, and join up with the medtech giant's suite of navigation, AI and robotics technologies.
Andrea Park
October 1, 2021
FierceBiotech
Jeff Cambra has held top spots at Zimmer Biomet, Medtronic and more, and is now offering up that expertise to take on the role of CEO at SpinaFX.
Andrea Park
September 28, 2021
FierceBiotech
Barely a year after the Rist radial access catheter technology made its operating room debut in Chicago last September, Medtronic has progressively expanded its availability across the U.S. and now, with a freshly minted CE mark, will also bring the devices overseas.
Andrea Park
September 20, 2021
FierceBiotech
Two deaths have been linked to the recall so far, according to the FDA, in addition to 10 serious injuries and another 59 reports of device malfunctions.
Andrea Park
September 17, 2021
FierceBiotech
Medtronic and the Mann Foundation will work together to further develop the technology into a new type of implantable insulin pump.
Andrea Park
August 24, 2021
FierceBiotech
Thanks to a safety net stitched from a variety of new product launches and its continued focus on tuck-in acquisitions, Medtronic reported better-than-expected revenues of just under $8 billion for the first quarter of its 2022 fiscal year.
Andrea Park
July 28, 2021
FierceBiotech
Medtronic has its heart set on ensuring that its insertable cardiac monitors are as accurate as possible, and a new pair of artificial intelligence algorithms might be just the ticket.
Andrea Park
July 6, 2021
FierceBiotech
So far, only two complaints pertaining to the guidewire have been filed with the agency, with no reports of related injuries or deaths. However, the FDA noted some serious adverse events caused by the guidewires may have gone unreported since physicians didn't know the devices had not been sterilized.
Andrea Park
June 21, 2021
FierceBiotech
The Arctic Front catheter delivers coolant to the heart tissue located around the pulmonary veins. Reach temperatures as low as minus 75 degrees Celsius, it blocks the abnormal electrical signals in the heart's upper chambers that cause irregular or rapid heartbeats.
Saltz Mongeluzzi & Bendesky P.C.
June 16, 2021
www.prnewswire.com:443
/PRNewswire/ -- A retired career corrections officer, who contracted tuberculosis (TB) during a spinal fusion operation, today filed the first lawsuit against...
Conor Hale
June 10, 2021
FierceBiotech
Medtronic scored FDA approval for its latest spinal cord stimulation implant, with a non-rechargeable device promising up to 11 years of battery life.
Research and Markets
June 8, 2021
www.prnewswire.com:443
/PRNewswire/ -- The "Capnography Devices Market Size, Share & Trends Analysis Report by Component, by Product, by Technology (Mainstream, Sidestream,...
Andrea Park
June 3, 2021
FierceBiotech
After three strikes in just the last six months, Medtronic's implantable heart pump is out. The company stopped selling the HeartWare ventricular pump after years of complaints and more than a dozen deaths in patients using the device, which Medtronic began distributing after its $1.1 billion acquisition of HeartWare in 2016.
Medtronic plc
June 3, 2021
www.prnewswire.com:443
/PRNewswire/ -- Medtronic plc (NYSE:MDT), the global leader in medical technology, is stopping the distribution and sale of the Medtronic HVADTM System. This...
Medtronic plc
June 2, 2021
www.prnewswire.com:443
/PRNewswire/ -- Medtronic plc (NYSE:MDT), the global leader in medical technology, today announced real-world clinical outcomes for 4,120 individuals on the...
Conor Hale
May 20, 2021
FierceBiotech
Nearly two years after the FDA opened up TAVR to younger, healthier people, Medtronic has delivered new safety data that aim to show the agency made the right decision.
May 18, 2021
BioSpace
Medtronic EvolutTM TAVR System Shows Strong Performance at Two Years in Low Risk Trial - read this article along with other careers information, tips and advice on BioSpace
Research and Markets
May 17, 2021
www.prnewswire.com:443
/PRNewswire/ -- The "Ambulance and Emergency Equipment: Global Markets" report has been added to ResearchAndMarkets.com's offering. Emergency medical services...
Andrea Park
May 13, 2021
FierceBiotech
They say bad things come in threes and that's certainly proving to be the case for Medtronic's long-troubled HeartWare Ventricular Assist Device system.
SHOW MORE

References

Golden logo
Text is available under the Creative Commons Attribution-ShareAlike 4.0; additional terms apply. By using this site, you agree to our Terms & Conditions.