Medtronic#Cardiovascular

{{short description|Irish tax-registered medical device company}}

{{Infobox company

| name = Medtronic plc

| logo = Medtronic logo.svg

| logo_upright = 1.2

| image = 2009-0610-001-Fridley-MedtronicHQ.JPG

| image_upright = 1.2

| type = Public

| predecessor =

| ISIN = {{ISIN|sl=n|pl=y|IE00BTN1Y115}}

| traded_as = {{Unbulleted list|{{NYSE|MDT}}|S&P 100 component|S&P 500 component}}

| industry = Medical equipment

| key_people = {{ubl|

{{nowrap|Geoff Martha (chairman & CEO)}}|

{{nowrap|Karen L. Parkhill (CFO)}}}}

| products = Medical devices

| revenue = {{increase}} {{US$|33.54 billion|link=yes}} (2025)

| operating_income = {{increase}} US$5.955 billion (2025)

| net_income = {{increase}} US$4.662 billion (2025)

| assets = {{increase}} US$91.68 billion (2025)

| equity = {{decrease}} US$48.02 billion (2025)

| num_employees = {{circa|95,000}} (2025)

| location = {{ubl|

Galway, Ireland (legal, executive)|

Minneapolis, Minnesota, U.S. (operational){{cite web|url=https://www.medtronic.com/en-us/our-company/locations.html|title=Locations|work=medtronic.com}}}}

| foundation = {{start date and age|df=yes|1949}}

| website = {{url|https://www.medtronic.com/|medtronic.com}}

| footnotes = Financials {{as of|2025|04|25|lc=yes|df=US}}.{{cite web|title=Medtronic Plc FY 2025 Annual Report (Form 10-K) |url=https://www.sec.gov/ix?doc=/Archives/edgar/data/0001613103/000161310325000091/mdt-20250425.htm |date=20 June 2025 |publisher=U.S. Securities and Exchange Commission}}

}}

Medtronic plc is an American-Irish medical device company. The company's legal and executive headquarters are in Ireland, while its operational headquarters are in Minneapolis, Minnesota. Medtronic rebased to Ireland following its acquisition of Irish-based Covidien in 2015.{{cite web |date=16 June 2014 |title=Medtronic to buy Covidien for $42.9 billion, rebase in Ireland |url=https://www.reuters.com/article/us-covidien-medtronic-inc-idUSKBN0ER03420140616 |publisher=Reuters |quote=U.S. medical device maker Medtronic Inc (MDT.N) said on Sunday it had agreed to buy Covidien Plc COV.N for $42.9 billion in cash and stock and move its executive base to Ireland in the latest transaction aiming for lower corporate tax rates abroad.}}{{Cite web |last=Reilly |first=Mark |date=June 16, 2014 |title=Medtronic will buy Covidien for $42.9 billion; HQ goes to Ireland, CEO stays here |url=https://www.bizjournals.com/twincities/morning_roundup/2014/06/medtronic-will-buy-covidien-for-42-9-billion-hq.html |access-date=2022-10-25 |website=www.bizjournals.com}} While it primarily operates in the United States,{{cite web|author=Monique Ellis|date=30 May 2018|title=The top 10 medical device companies|url=https://www.proclinical.com/blogs/2018-5/the-top-10-medical-device-companies-2018|publisher=Proclinical|quote=Medtronic is the top medical device company in the world for 2018 with an impressive annual revenue nearly $30 billion in 2017. The company experienced a 3% increase in revenue compared with 2016 figures and they reported 'balanced, diversified growth across all groups and regions'. Revenue increases are also due in part to the consolidation of its acquisition of Covidien.}}{{cite web|author1=Jonathan D. Rockoff|author2=Nina Trentmann|date=11 February 2018|title=New Tax Law Haunts Inversion Deals|url=https://www.wsj.com/articles/new-tax-law-haunts-companies-that-did-inversion-deals-1518350401|publisher=Wall Street Journal}} it operates in more than 150 countries and employs over 90,000 people.{{Cite web |last=Yu |first=Jea |date=2022-07-27 |title=Medtronic Stock Keeps Ticking Forward |url=https://www.entrepreneur.com/finance/medtronic-stock-keeps-ticking-forward/432204 |access-date=2022-10-19 |website=Entrepreneur |language=en}} It develops and manufactures healthcare technologies and therapies. It is one of the biggest medical tech companies in the world and is currently the largest medical device company in the world by revenue.

The company has developed several world-first technologies since its inception, including wearable and implantable pacemakers, the implantable cardioverter defibrillator, and remote monitoring systems. They also created miniaturized devices like the world's smallest pacemaker and spinal cord stimulator.

History

File:Medtronic OHQ Fridley MN 2017.jpg, a suburb of Minneapolis]]

Medtronic was founded in 1949 in Minneapolis by Earl Bakken and his brother-in-law, Palmer Hermundslie, as a medical equipment repair shop.{{cite web|title=Our History|url=http://www.medtronic.com/about-us/company-profile/medtronic-history/index.htm|publisher=Medtronic|access-date=13 August 2015|archive-date=15 September 2015|archive-url=https://web.archive.org/web/20150915111029/http://www.medtronic.com/about-us/company-profile/medtronic-history/index.htm|url-status=dead}} Bakken invented several medical technology devices that continue to be used around the world today.{{citation needed|date=May 2023}}

Through his repair business, Bakken came to know C. Walton Lillehei, a doctor of heart surgery at the University of Minnesota Medical School. The deficiencies of the artificial pacemakers of the day were made painfully obvious following a power outage over Halloween in 1957, which affected large sections of Minnesota and western Wisconsin.{{cite web|url=http://minnesota.publicradio.org/display/web/2007/10/29/batterypacemaker/|title=Halloween blackout of '57 spurs creation of portable pacemaker|author=Lorna Benson|date=31 October 2007|work=publicradio.org}} A pacemaker-dependent paediatric patient of Lillehei died because of the blackout.{{citation needed|date=May 2023}} The next day, Lillehei spoke with Bakken about developing some form of battery-powered pacemaker. Bakken modified the design for a transistorized metronome and created the first battery-powered external pacemaker.{{citation needed|date=May 2023}} It fit in a four-inch-square box that could be taped to a patient's chest, transmitted electric signals to the heart through wires that passed through the patient's chest, and could be removed without surgery.{{citation needed|date=May 2023}}

File:2012-0907-OldMedtronicHQ.jpg

The company expanded through the 1950s, selling equipment built by other companies but also developing custom-made devices. Bakken built a small pacemaker that could be strapped to the body and powered by batteries. Work in the new field later produced an implantable pacemaker in 1960. The company built its headquarters in the Minneapolis suburb of St. Anthony, Minnesota, in 1960,Sam Black, [http://www.bizjournals.com/twincities/blog/real_estate/2012/09/islamic-group-buys-st-anthony.html Old Medtronic headquarters is sold to Islamic group], Minneapolis/St. Paul Business Journal, 6 September 2012, accessed 14 March 2013. and moved to Fridley in the 1970s. Medtronic's main competitors in the cardiac rhythm field include Boston Scientific and St. Jude Medical.

In 1997, Medtronic opened a production site for implantable pacemakers and brain pacemakers in Tolochenaz, Switzerland. One in five pacemakers implanted globally today is made here. The site is also used as a European training centre for doctors.{{cite news| url=https://www.swiss-medtech.ch/en/industry/history | work=Swiss Medtech | title=MEDICAL TECHNOLOGY – FROM CRAFTS TO HIGH-TECH | access-date=12 October 2021}}

In 1998, Medtronic acquired Physio-Control for $538 million.{{cite news| url=https://www.latimes.com/archives/la-xpm-1998-jun-30-fi-64811-story.html | work=Los Angeles Times | title=Medtronic to Acquire Physio-Control | date=30 June 1998}}

In 2014, Integra LifeSciences announced it was acquiring instrumentation lines from Medtronic for $60 million. The deal included Medtronic's MicroFrance and Xomed manual ENT and laparoscopic surgical instruments, as well as a manufacturing facility in France.{{Cite web|title=Medtronic unloads instrument lines to Integra for $60M|url=https://www.fiercebiotech.com/medical-devices/medtronic-unloads-instrument-lines-to-integra-for-60m|access-date=2021-08-22|website=FierceBiotech| date=17 September 2014 |language=en}}

In February 2016, the company announced that it would acquire Bellco from private equity firm Charme Capital Partners.{{cite web|last1=Lawrence|first1=Stacy|title=Medtronic acquires Italian hemodialysis player as part of newly formed renal care biz|url=http://www.fiercemedicaldevices.com/story/medtronic-acquires-italian-hemodialysis-player-part-newly-formed-renal-care/2016-02-01|website=FierceMedicalDevices.com|publisher=FierceMarkets, a division of Questex, LLC|date=1 February 2016|access-date=12 February 2016|archive-date=2 February 2016|archive-url=https://web.archive.org/web/20160202095645/http://www.fiercemedicaldevices.com/story/medtronic-acquires-italian-hemodialysis-player-part-newly-formed-renal-care/2016-02-01|url-status=dead}} In June, the company announced its acquisition of HeartWare International Inc. for $1.1 billion.{{cite news|url=https://www.bloomberg.com/news/articles/2016-06-27/medtronic-to-pay-1-1-billion-for-heartware-international|title=Medtronic Adds Heart Devices in $1.1 Billion HeartWare Deal|last=kristen_hallam|first=Michelle Cortez FayCortez Kristen Hallam|website=Bloomberg.com|date=27 June 2016 |access-date=19 July 2016}} In December 2017, Medtronic acquired Crospon in €38 million ($45 million).{{cite web|url=https://www.biospace.com/article/medtronic-takes-out-crospon-in-45m-deal/|title=Medtronic Takes Out Crospon in $45M Deal|website=BioSpace|access-date=10 February 2019|archive-date=12 February 2019|archive-url=https://web.archive.org/web/20190212011554/https://www.biospace.com/article/medtronic-takes-out-crospon-in-45m-deal/|url-status=dead}} In September 2018, the company acquired Mazor Robotics for $1.64 billion ($58.50 per American Depository Share or $29.25 per ordinary share.{{cite web|url=https://www.nasdaq.com/news/|title=Today's Stock Market News and Analysis from Nasdaq.com|website=NASDAQ.com}} In late November, Medtronic acquired Nutrino Health Ltd boosting the company's nutrition-related data services and analytics.{{cite web|url=https://www.biospace.com/article/medtronic-to-acquire-nutrino-health-/|title=Medtronic to Acquire Nutrino Health|website=BioSpace|date=26 November 2018 }}

In May 2019, Medtronic announced it would acquire Titan Spine, a technology company focusing on titanium spine implants.{{cite web|url=https://www.biospace.com/article/medtronic-enters-into-definitive-agreement-to-acquire-titan-spine/|title=Medtronic Enters into Definitive Agreement to Acquire Titan Spine|website=BioSpace|date=13 May 2019 }}

Chief Executive Officer Omar Ishrak retired in April 2020 and stayed on as executive chairman and chairman of the board until December 2020.{{Cite web|title=Cargill adds former Medtronic CEO to board|url=https://www.bakingbusiness.com/articles/52794-cargill-adds-former-medtronic-ceo-to-board|access-date=2021-08-22|website=www.bakingbusiness.com|language=en}}{{Cite web|date=2020-04-27|title=Geoff Martha officially takes over corner office at Medtronic|url=https://www.massdevice.com/geoff-martha-officially-takes-over-corner-office-at-medtronic/|access-date=2021-08-22|website=MassDevice|language=en-US}} Ishrak was succeeded by senior executive Geoff Martha.

In January 2020, the company announced its intention to acquire Stimgenics, LLC and their primary therapy: differential target, multiplexed, spinal cord stimulation.{{Cite web|url=https://www.biospace.com/article/medtronic-acquires-stimgenics-pioneer-of-dtm-a-novel-spinal-cord-stimulation-therapy/|title=Medtronic Acquires Stimgenics, Pioneer of DTM™, a Novel Spinal Cord Stimulation Therapy|website=BioSpace|access-date=11 May 2020|archive-date=3 August 2020|archive-url=https://web.archive.org/web/20200803194437/https://www.biospace.com/article/medtronic-acquires-stimgenics-pioneer-of-dtm-a-novel-spinal-cord-stimulation-therapy/|url-status=dead}} In July, the company announced it would acquire Medicrea for €7.00 per share.{{Cite web|url=https://www.biospace.com/article/releases/medtronic-to-acquire-medicrea/?s=79|title=Medtronic to Acquire Medicrea|date=15 July 2020 }} In August, Medtronic announced it would acquire Companion Medical, who manufacture a smart insulin pen system, which connects to a diabetes management app.{{Cite web|url=https://www.biospace.com/article/releases/medtronic-to-acquire-smart-insulin-pen-company-companion-medical/?s=79|title = Medtronic to Acquire Smart Insulin Pen Company Companion Medical| date=11 August 2020 }} In September Medtronic acquired Avenu Medical for an undisclosed sum.{{Cite web|url=https://www.biospace.com/article/releases/medtronic-to-acquire-avenu-medical/?s=79|title = Medtronic to Acquire Avenu Medical| date=30 September 2020 }}

In February 2021, the company recalled its HeartWare Ventricular Assist Device.{{Cite web|date=2021-04-15|title=Medtronic has another serious HVAD recall|url=https://www.massdevice.com/medtronic-has-another-serious-hvad-recall/|access-date=2021-06-23|website=MassDevice|language=en-US}} In June 2021, the controller ports were pulled from the market.{{Cite web|date=2021-06-03|title=Medtronic stops sales of its HVAD system|url=https://www.massdevice.com/medtronic-stops-sales-of-its-hvad-system-abbott-confirms-capacity-for-heartmate-3-demand/|access-date=2021-06-23|website=MassDevice|language=en-US}} On 3 June 2021, the FDA alerted physicians to stop new implants of the HVAD system due to "an increased risk of neurological adverse events and mortality associated with the internal pump."{{Cite journal|last=Health|first=Center for Devices and Radiological|date=2021-06-03|title=Stop New Implants of the Medtronic HVAD System – Letter to Health Care Providers|url=https://www.fda.gov/medical-devices/letters-health-care-providers/stop-new-implants-medtronic-hvad-system-letter-health-care-providers|archive-url=https://web.archive.org/web/20210603125734/http://www.fda.gov/medical-devices/letters-health-care-providers/stop-new-implants-medtronic-hvad-system-letter-health-care-providers|url-status=dead|archive-date=3 June 2021|journal=FDA|language=en}}

In January 2022, the business announced it would acquire Affera, Inc.{{Cite web|url=https://www.biospace.com/article/releases/medtronic-to-acquire-affera/?s=79|title=Medtronic to Acquire Affera|date=10 January 2022 }} In March, Medtronic announced a contract with Vizient, a healthcare performance improvement company, to add Medtronic's Touch Surgery Enterprise platform to Vizient's healthcare offerings.{{Cite web |last=Whooley |first=Sean |date=2022-03-09 |title=Medtronic inks deal to add Hugo-compatible, AI-based surgical system to Vizient's offerings |url=https://www.massdevice.com/medtronic-inks-deal-to-add-hugo-compatible-ai-based-surgical-system-to-vizients-offerings/ |access-date=2022-09-06 |website=MassDevice |language=en-US}}{{Cite web |last=Pennic |first=Jasmine |date=2022-03-09 |title=Medtronic Taps Vizient to Offer AI-Powered Surgical Video Management & Analytics Platform for OR |url=https://hitconsultant.net/2022/03/09/medtronic-vizient-surgical-video-management/ |access-date=2022-09-14 |website=hitconsultant.net |language=en-US}} Touch Surgery works with laparoscopic and robotic scopes and is an AI-powered video management and analytics platform for the operating room. In May, Medtronic and DaVita Inc. announced plans to form a new, independent kidney care-focused medical device company.{{Cite web |title=Medtronic (MDT) and DaVita (DVA) to Form new Independent Kidney Technology Company |url=https://www.streetinsider.com/Corporate+News/Medtronic+%28MDT%29+and+DaVita+%28DVA%29+to+Form+new+Independent+Kidney+Technology+Company/20133146.html |access-date=2022-09-21 |website=StreetInsider.com |language=en}} Medtronic's Renal Care Solutions business will be part of the new company.

In April 2022, the company announced that it would work with GE Healthcare to support the needs and care demands at Ambulatory Surgery Centers.{{Cite web |last=jenelle |date=2022-04-29 |title=GE Healthcare and Medtronic Announce Collaboration to Meet Growing Need for Outpatient Care |url=http://www.dicardiology.com/content/ge-healthcare-and-medtronic-announce-collaboration-meet-growing-need-outpatient-care |access-date=2022-09-28 |website=DAIC |language=en}} In July, Medtronic announced a strategic partnership with CathWorks, a coronary artery disease (CAD) technology developer.{{Cite web |last=Whooley |first=Sean |date=2022-07-12 |title=Medtronic partners with CathWorks with option to acquire down the line |url=https://www.massdevice.com/medtronic-cathworks-acquire/ |access-date=2022-09-16 |website=MassDevice |language=en-US}} A separate agreement gave Medtronic the option to acquire CathWorks in the future.

In October 2022, the company announced its intention to pursue a separation of the company's combined Patient Monitoring and Respiratory Interventions businesses, which are part of the company's Medical Surgical Portfolio.{{Cite web |title=Medtronic announces intention to separate its combined Patient Monitoring and Respiratory Interventions businesses |url=https://news.medtronic.com/2022-10-24-Medtronic-announces-intention-to-separate-its-combined-Patient-Monitoring-and-Respiratory-Interventions-businesses |access-date=2022-11-28 |website=Medtronic News |language=en}}

In February 2024, the company announced that it had reversed its decision to spin-off or sell the Patient Monitoring and Respiratory Interventions businesses, and would instead combine them into a new business unit called Acute Care & Monitoring. They also announced that they would discontinue the ventilator product line, citing its unprofitability.{{Cite web |url=https://news.medtronic.com/2024-02-20-Medtronic-reports-third-quarter-fiscal-2024-financial-results|title=Medtronic reports third quarter fiscal 2024 financial results - Feb 20, 2024 |access-date=2025-02-16 |website=Medtronic}}

=Acquisition history=

{{hidden begin|border=1px #aaa solid|title= Medtronic|ta1=center}}

Medtronic
Medtronic plc
Medtronic Inc. (Founded 1949)
Ardian Inc{{cite web|url=http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&ID=1770616|title=Press Release|author=Medtronic|work=medtronic.com}}{{Dead link|date=March 2020 |bot=InternetArchiveBot |fix-attempted=yes }} (Acq 2010)
Osteotech Inc{{cite web|url=http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&ID=1770612|title=Press Release|author=Medtronic|work=medtronic.com}}{{Dead link|date=March 2020 |bot=InternetArchiveBot |fix-attempted=yes }} (Acq 2010)
ATS Medical{{cite web|url=http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&ID=1770602|title=Press Release|author=Medtronic|work=medtronic.com}}{{Dead link|date=March 2020 |bot=InternetArchiveBot |fix-attempted=yes }} (Acq 2010)
Krauth Cardiovascular{{cite web|url=http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&ID=1770599|title=Press Release|author=Medtronic|work=medtronic.com}}{{Dead link|date=March 2020 |bot=InternetArchiveBot |fix-attempted=yes }} (Acq 2010)
Fogazzi (Acq 2010)
Invatec (Acq 2010)
PEAK Surgical, Inc{{cite web|url=http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&ID=1775942|title=Press Release|author=Medtronic|work=medtronic.com}}{{Dead link|date=March 2020 |bot=InternetArchiveBot |fix-attempted=yes }}< (Acq 2011)
Salient Surgical Technologies Inc{{cite web|url=http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&ID=1775941|title=Press Release|author=Medtronic|work=medtronic.com}}{{Dead link|date=March 2020 |bot=InternetArchiveBot |fix-attempted=yes }} (Acq 2011)
China Kanghui Holdings{{cite web|url=http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&ID=1770621|title=Press Release|author=Medtronic|work=medtronic.com}}{{Dead link|date=March 2020 |bot=InternetArchiveBot |fix-attempted=yes }} (Acq 2012)
NGC Medical{{cite web|url=http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&ID=1961261|title=Press Release|author=Medtronic|work=medtronic.com}}{{Dead link|date=March 2020 |bot=InternetArchiveBot |fix-attempted=yes }} (Acq 2014)
Sapiens Steering Brain Stimulation (Acq 2014){{cite web|url=http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&ID=1960861|title=Press Release|author=Medtronic|work=medtronic.com|access-date=16 July 2015|archive-url=https://web.archive.org/web/20171010094843/http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&id=1960861|archive-date=10 October 2017|url-status=dead}}
TYRX Inc (Acq 2014){{cite web|url=http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&ID=1888167|title=Press Release|author=Medtronic|work=medtronic.com}}{{Dead link|date=March 2020 |bot=InternetArchiveBot |fix-attempted=yes }}
Covidien (Formed 2007 from Tyco International healthcare business spin off)
Sapheon Inc{{cite web|url=http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&ID=2004332|title=Press Release|author=Medtronic|work=medtronic.com}}{{Dead link|date=March 2020 |bot=InternetArchiveBot |fix-attempted=yes }} (Acq 2014)
Reverse Medical Corporation{{cite web|url=http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&ID=2004330|title=Press Release|author=Medtronic|work=medtronic.com}}{{Dead link|date=March 2020 |bot=InternetArchiveBot |fix-attempted=yes }} (Acq 2014)
Given Imaging{{cite web|url=http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&ID=2004282|title=Press Release|author=Medtronic|work=medtronic.com}}{{Dead link|date=March 2020 |bot=InternetArchiveBot |fix-attempted=yes }} (Acq 2014)
Aspect Medical Systems{{Cite web|url=https://www.reuters.com/article/business/covidien-to-buy-aspect-medical-for-210-mln-idUSBNG146133/|title=Covidien to buy Aspect Medical for $210 mln|website=Reuters|language=en|access-date=2025-02-27}} (Acq 2009)
Somanetics Corp{{cite web|url=http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&ID=2003974|title=Press Release|author=Medtronic|work=medtronic.com}}{{Dead link|date=March 2020 |bot=InternetArchiveBot |fix-attempted=yes }} (Acq 2010)
ev3 Inc{{cite web|url=http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&ID=2003970|title=Press Release|author=Medtronic|work=medtronic.com}}{{Dead link|date=March 2020 |bot=InternetArchiveBot |fix-attempted=yes }} (Acq 2010)
CV Ingenuity{{cite web|url=http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&ID=2004182|title=Press Release|author=Medtronic|work=medtronic.com}}{{Dead link|date=March 2020 |bot=InternetArchiveBot |fix-attempted=yes }} (Acq 2012)
BÂRRX{{cite web|url=http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&ID=2004081|title=Press Release|author=Medtronic|work=medtronic.com}}{{Dead link|date=March 2020 |bot=InternetArchiveBot |fix-attempted=yes }} (Acq 2012)
Newport Medical Instruments{{cite web|url=http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&ID=2004112|title=Press Release|author=Medtronic|work=medtronic.com}}{{Dead link|date=March 2020 |bot=InternetArchiveBot |fix-attempted=yes }} (Acq 2012)
superDimension{{cite web|url=http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&ID=2004107|title=Press Release|author=Medtronic|work=medtronic.com}}{{Dead link|date=March 2020 |bot=InternetArchiveBot |fix-attempted=yes }} (Acq 2012)
Oridion Systems{{cite web|url=http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&ID=2004118|title=Press Release|author=Medtronic|work=medtronic.com}}{{Dead link|date=March 2020 |bot=InternetArchiveBot |fix-attempted=yes }} (Acq 2012)
VNUS Medical Technologies
Zephyr Technology{{Cite web|url=https://www.massdevice.com/report-covidien-acquires-zephyrs-wearable-monitors/|title=Confirmed: Covidien acquires Zephyr’s wearable monitors|website=massdevice.com|language=en|access-date=2025-02-27}} (Acq 2014)
Advanced Uro-Solutions{{cite web|url=http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&ID=2018891|title=Press Release|author=Medtronic|work=medtronic.com}}{{Dead link|date=March 2020 |bot=InternetArchiveBot |fix-attempted=yes }} (Acq 2015)
Diabeter{{cite web|url=http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&ID=2031946|title=Press Release|author=Medtronic|work=medtronic.com}}{{Dead link|date=March 2020 |bot=InternetArchiveBot |fix-attempted=yes }} (Acq 2015)
CardioInsight Technologies{{cite web|url=http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&ID=2060950|title=Press Release|author=Medtronic|work=medtronic.com|access-date=16 July 2015|archive-url=https://web.archive.org/web/20181007190418/http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&ID=2060950|archive-date=7 October 2018|url-status=dead}} (Acq 2015)
Aptus Endosystems{{cite web|url=http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&ID=2061099|title=Press Release|author=Medtronic|work=medtronic.com|access-date=16 July 2015|archive-url=https://web.archive.org/web/20181006133630/http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&ID=2061099|archive-date=6 October 2018|url-status=dead}} (Acq 2015)
RF Surgical Systems{{cite web|url=http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&ID=2067189|title=Press Release|author=Medtronic|work=medtronic.com|access-date=16 July 2015|archive-url=https://web.archive.org/web/20181007193949/http://newsroom.medtronic.com/phoenix.zhtml?c=251324&p=irol-newsArticle&ID=2067189|archive-date=7 October 2018|url-status=dead}} (Acq 2015)
Medina Medical{{cite web|url=http://www.fiercemedicaldevices.com/story/medtronic-buy-cerebral-aneurysm-stealth-startup-medina-150m/2015-09-01|title=Medtronic to buy cerebral aneurysm stealth startup Medina for $150M+|work=FierceMedicalDevices|access-date=10 September 2015|archive-date=3 September 2015|archive-url=https://web.archive.org/web/20150903234725/http://www.fiercemedicaldevices.com/story/medtronic-buy-cerebral-aneurysm-stealth-startup-medina-150m/2015-09-01|url-status=dead}} (Acq 2015)
Lazarus Effect{{cite web |url=http://www.fiercemedicaldevices.com/story/medtronic-buy-stent-retriever-cover-startup-lazarus-effect-100m/2015-09-28 |title=Medtronic to buy stent retriever cover startup Lazarus Effect for $100M | FierceBiotech |publisher=Fiercemedicaldevices.com |date=28 September 2015 |access-date=2 June 2019 |archive-date=28 September 2015 |archive-url=https://web.archive.org/web/20150928233807/http://www.fiercemedicaldevices.com/story/medtronic-buy-stent-retriever-cover-startup-lazarus-effect-100m/2015-09-28 |url-status=dead }} (Acq 2015)
Bellco{{cite web |url=http://www.fiercemedicaldevices.com/story/medtronic-acquires-italian-hemodialysis-player-part-newly-formed-renal-care/2016-02-01 |title=Medtronic acquires Italian hemodialysis player as part of newly formed renal care biz | FierceBiotech |publisher=Fiercemedicaldevices.com |date=1 February 2016 |access-date=2 June 2019 |archive-date=2 February 2016 |archive-url=https://web.archive.org/web/20160202095645/http://www.fiercemedicaldevices.com/story/medtronic-acquires-italian-hemodialysis-player-part-newly-formed-renal-care/2016-02-01 |url-status=dead }} (Acq 2016)
HeartWare International Inc (Acq 2016)
Crospon (Acq 2017)
Mazor Robotics (Acq 2018)
Nutrino Health Ltd (Acq 2018)
Titan Spine (Acq 2019)
Klue (Acq 2019){{cite news |url=https://www.medtechdive.com/news/medtronic-diabetes-acquires-klue-for-personalized-closed-loop/569267/ |title=Medtronic acquires meal detection tech to bolster personalized closed loop system |date=18 December 2019 |work=medtechdive |author=Maria Rachal}}
Stimgenics, LLC (Acq 2020)
Medicrea (Acq 2020)
Companion Medical (Acq 2020)
Avenu Medical{{cite web|url=https://www.massdevice.com/medtronic-to-acquire-avenu-medical/ |title=Medtronic to acquire Avenu Medical |publisher=massdevice.com |date=30 September 2020|access-date=1 October 2019}} (Acq 2020)
Intersect ENT (Acq 2022){{cite news |url=https://www.startribune.com/medtronic-closes-on-deal-to-acquire-intersect-ent/600173011/ |title=Medtronic closes on deal to acquire Intersect ENT |date=13 May 2022 |work=Star Tribune |author=Christopher Snowbeck}}
Digital Surgery (Acq 2020){{cite news |url=https://pharmaphorum.com/news/medtronic-acquires-ai-specialist-digital-surgery/ |title=Medtronic acquires AI specialist Digital Surgery |date=19 February 2020 |work=pharmaphorum |author=Richard Staines}}
Affera, Inc. (Acq 2022)

Global rankings

In May 2018, Medtronic was ranked as the world's largest medical device company by 2017 revenues (see table below).{{cite web|url=https://www.igeahub.com/2018/08/03/top-10-medical-devices-companies-2018/|title=Top 10 Medical Device Companies|publisher=IgeaHub|access-date=1 December 2018|archive-date=2 December 2018|archive-url=https://web.archive.org/web/20181202024708/https://www.igeahub.com/2018/08/03/top-10-medical-devices-companies-2018/|url-status=dead}}{{cite web|url=https://blog.marketresearch.com/10-top-medical-device-companies-worldwide|title=Top 10 Medical Device Companies|author=Sarah Schmidt|date=6 November 2017|publisher=MarketResearch.com}}

In March 2017, Bloomberg's database of U.S. tax inversions listed Medtronic and Wright Medical Group (Medtronic's 2015 inversion to Ireland was over $100 billion, while Wright's 2015 inversion to the Netherlands was $3.3 billion), as the only U.S. tax inversions of a U.S. medical device company in history.{{cite web |date=1 March 2017 |title=Tracking Tax Runaways |url=https://www.bloomberg.com/graphics/tax-inversion-tracker/ |publisher=Bloomberg News |quote=Bloomberg Special Reports: Corporate Tax Inversions}} In February 2018, the Wall Street Journal listed Medtronic's 2015 tax inversion to Ireland as the largest U.S. corporate tax inversion executed between 2013 and 2016. In May 2018, Medtronic was ranked as the largest corporate tax inversion in history.{{cite news|url=https://www.theglobeandmail.com/globe-investor/investment-ideas/the-worlds-biggest-inversion-is-boring-investors/article29605267/|title=World's largest tax inversion doing little to inspire investors|work=The Globe and Mail|date=16 May 2018|author=TARA LACHAPELLE}}

style="text-align:left" \|Rank ! style="text-align:left" \|Company name ! style="text-align:right" \|2017 Revenue ($ m) ! style="text-align:right" \|Legal headquarters (tax registration) ! style="text-align:right" \|Executive headquarters (if different from legal) ! style="text-align:right" \|Parent company (if a subsidiary)
class="wikitable" style="text-align:right" \|+ style="text-align:left;" \|Largest global medical device companies (based on 2017 revenues)
1	style="text-align:left" \|Medtronic	29,710	Dublin, Ireland	Fridley, Minnesota, U.S.	–
2	style="text-align:left" \|DePuy Synthes	26,592	Raynham, MA, U.S.	–	Johnson & Johnson
3	style="text-align:left" \|Fresenius Medical Care	20,900	Bad Homburg, Germany	–	Fresenius SE
4	style="text-align:left" \|Philips Healthcare	20,896	Amsterdam, Netherlands	–	Philips
5	style="text-align:left" \|GE Healthcare	19,116	Chicago, Illinois, U.S.	–	General Electric
6	style="text-align:left" \|Siemens Healthineers	16,206	Erlangen, Germany	–	Siemens
7	style="text-align:left" \|Cardinal Health	13,524	Dublin, Ohio, U.S.	–	–
8	style="text-align:left" \|Stryker	12,444	Kalamazoo, Michigan, U.S.	–	–
9	style="text-align:left" \|Becton Dickinson	12,093	Franklin Lakes, New Jersey, U.S.	–	–
10	style="text-align:left" \|Baxter International	10,561	Deerfield, Illinois, U.S.	–	–

In November 2021, the company was added to the Dow Jones Sustainability World Index.{{Cite web | title=Dow Jones Sustainability Indices Results Announced: Alphabet, Medtronic are In, Nestlé, TotalEnergies Out - ESG Today | url=https://www.esgtoday.com/dow-jones-sustainability-indices-results-announced-alphabet-medtronic-are-in-nestle-totalenergies-out/ | archive-url=https://web.archive.org/web/20211115103221/https://www.esgtoday.com/dow-jones-sustainability-indices-results-announced-alphabet-medtronic-are-in-nestle-totalenergies-out/ | access-date=2025-07-03 | archive-date=2021-11-15}}

Business units and subsidiaries

Medtronic has four main business units: the Minimally Invasive Therapies Group, the Diabetes Group, the Restorative Therapies Group, and the Cardiac and Vascular Group. Medtronic develops and manufactures devices and therapies to treat more than 30 chronic diseases, including heart failure,{{Cite web |title=Congestive Heart Failure Treatment Devices Market: In-Depth Analysis & Forecast 2020-2030 |url=https://www.biospace.com/article/congestive-heart-failure-treatment-devices-market-in-depth-analysis-and-forecast-2020-2030/ |access-date=2022-12-01 |website=BioSpace |language=en-US}} Parkinson disease, urinary incontinence, Down syndrome, obesity, chronic pain, spinal disorders and diabetes.

=Acute Care & Monitoring=

Acute Care & Monitoring (ACM) is based out of Lafayette, Colorado and produces non-invasive sensors and monitoring products, used for patient monitoring in the hospital and home settings. It has absorbed the portfolios of acquired companies, including Covidien, Nellcor, Somanetics, Aspect Medical Systems, Oridion Medical and Zephyr Technology. This business unit produces pulse oximetry, capnography, and bispectral index sensors, patient monitors, remote patient monitoring software, and electronic medical record connectivity software.{{cite web| url=https://www.medtronic.com/en-us/healthcare-professionals/specialties/acute-care-monitoring.html |title=Acute Care & Monitoring Solutions |publisher=Medtronic |access-date=16 February 2025}}

=CRDM=

Cardiac rhythm disease management (CRDM) is the oldest and largest of Medtronic's business units. Its work in heart rhythm therapies dates back to 1957 when Bakken developed the first wearable heart pacemaker to treat abnormally slow heart rates. Since then, it has expanded its expertise in electrical stimulation to treat other cardiac rhythm diseases. It has also made an effort to address overall disease management by adding diagnostic and monitoring capabilities to many of its devices. An independently-operating Dutch pacemaker manufacturer, Vitatron, acquired by Medtronic in 1986, is now a European subsidiary of the unit.{{cite news| url=http://www.bizjournals.com/twincities/stories/1997/07/21/story6.html | first=John | last=Manning | date=20 July 1997 | title=Vitatron, Medtronic integrate sales force}} Medtronic and Vitatron pacemakers are interrogated and programmed by Medtronic Carelink Model 2090 Programmer for Medtronic and Vitatron Devices; they use separate interfaces.{{cite web |url=http://manuals.medtronic.com/wcm/groups/mdtcom_sg/@emanuals/@era/@crdm/documents/documents/m931556a001_cont_20090206.pdf |title=MEDTRONIC CARELINK ® PROGRAMMER |publisher=Medtronic |access-date=24 April 2013 |archive-date=26 September 2015 |archive-url=https://web.archive.org/web/20150926210919/http://manuals.medtronic.com/wcm/groups/mdtcom_sg/@emanuals/@era/@crdm/documents/documents/m931556a001_cont_20090206.pdf |url-status=dead }}

In 2007, Medtronic recalled its Sprint Fidelis product, the flexible wires, or leads, which connect a defibrillator to the interior of the heart. The leads were found to be failing at an unacceptable rate, resulting in unnecessary shocks or no shocks when needed; either can be lethal. The scope of the problem continues to be a matter of research. Studies since the recall, disputed by Medtronic, suggest that the failure rate of already-implanted Sprint Fidelis leads is increasing exponentially. Medtronic's liability is limited by various court decisions.{{cite news|title=Hospitals Dispute Medtronic Data on Wires |last=Burton |first=Thomas M. |date=4 February 2010|publisher=Wall Street Journal|pages=D6}}

=Spinal and biologics=

Spinal and biologics is Medtronic's second-largest business. Medtronic is the world leader in spinal and musculoskeletal therapies. In 2007, Medtronic purchased Kyphon, a manufacturer and seller of spinal implants that are necessary for procedures like kyphoplasty.{{cite news |title=Medtronic to acquire Kyphon |date=27 July 2007 |author=Joshua Freed |agency=Associated Press |work=USA Today|url=https://www.usatoday.com/money/economy/2007-07-27-3280975318_x.htm}}

In May 2008, Medtronic Spine agreed to pay the US government $75 million to settle a qui tam lawsuit after a whistleblower alleged that Medtronic committed Medicare fraud. The company was charged with illegally convincing healthcare providers to offer kyphoplasty, a spinal fracture repair surgery, as an inpatient, not an outpatient, procedure to make thousands of dollars more in profits per surgery.[http://www.phillipsandcohen.com/2008/Medtronic-unit-will-pay-75-million-to-settle-whistleblower-Medicare-fraud-case.shtml "Medtronic unit will pay $75 million to settle whistleblower Medicare fraud case"] Phillips & Cohen LLP Press Release. 22 May 2008.

A "special report" by writer Steven Brill in Time showed that according to Medtronic's quarterly SEC filing of October 2012, the company had, on average, a 75.1% profit margin on its spine products and therapies.[http://theglobalrealm.com/2013/02/28/bitter-pill-why-medical-bills-are-killing-us/ "Bitter Pill: Why medical bills are killing us"] {{Webarchive|url=https://web.archive.org/web/20151222091914/http://theglobalrealm.com/2013/02/28/bitter-pill-why-medical-bills-are-killing-us/ |date=22 December 2015 }} Time, 28 February 2013

=Cardiovascular=

Medtronic's cardiovascular therapies span the major specialties of interventional cardiology, cardiac surgery, and vascular surgery. The products are used to reduce the potentially debilitating effects of coronary, aortic, and structural heart disease. As of August 2024, cardiovascular portfolio included four product segments - cardiac rhythm products, heart failure products, structural heart and aortic products, coronary and peripheral products.Annual report 2024, https://filecache.investorroom.com/mr5ir_medtronic/781/MEDTRONIC%20PLC_10K_2024%20ARS.pdf

=Neuromodulation=

Neuromodulation is the second-oldest and third-largest department of Medtronic. Its products include neurostimulation systems and implantable drug delivery systems for chronic pain, common movement disorders, and urologic and gastrointestinal disorders. The department's revenues in 2014 amounted to $1.9 billion, or 11% of Medtronic's total revenues.{{cite web|author=Valerie Silverthorne |url=http://searchsoftwarequality.techtarget.com/feature/Sometimes-the-right-ALM-platform-isnt-the-obvious-one |title=Sometimes the right ALM platform isn't the obvious one |publisher=searchsoftwarequality.techtarget.com |date=1 May 2016 |access-date=20 May 2016}}

=Diabetes=

The diabetes management manufacturing and sales division of Medtronic is based on the perimeter of the California State University, Northridge campus in Northridge, California.{{cite web |url=https://www.csun.edu/northcampus |title=North Campus Development Corporation |author= |date=18 April 2013 |publisher=California State University, Northridge |access-date=February 4, 2022}}Gregory J. Wilcox for the LA Daily News. 11 June 2015 [http://www.dailynews.com/20110615/medtronic-diabetes-laying-off-more-than-400-at-northridge-site Medtronic Diabetes laying off more than 400 at Northridge site]{{cite news |last=Lucas |first=Michael P. |date=May 9, 2000 |title=CSUN and MiniMed Seek Synergy on Campus |url=https://www.latimes.com/archives/la-xpm-2000-may-09-me-28216-story.html |work=Los Angeles Times |access-date=September 1, 2023}} The original company, Minimed Technologies, was founded in 1983 by Alfred E. Mann and spun off from Pacesetter Systems to design and market an open loop insulin pump.Karen Robinson-Jacobs for the LA Times. 1 June 2001 [https://www.latimes.com/archives/la-xpm-2001-jun-01-fi-5013-story.html After-Sale, MiniMed Founder Returns to the Start-Up Lab] The MiniMed 502 was one of the first lightweight insulin pumps on the market, and it helped bring insulin pump usage to the mainstream market.

In 1992, the MiniMed 506 was a major redesign to make it more appealing to consumers. The new design was met by boosted adoption rate, and sales increased by 357%.{{cite news|last=Pierson |first=John |url=https://money.cnn.com/magazines/fortune/fortune_archive/1999/11/22/269598/index.htm |title=Style And Substance: Why Design Matters Many small-business owners believe they can't afford good product design. Why some companies are rethinking that equation. – November 22, 1999 |publisher=Money.cnn.com |date=22 November 1999 |access-date=24 April 2013}} In 2001, Medtronic purchased Minimed, to form Medtronic Minimed.Karen Robinson-Jacobs for the LA Times. 31 May 2001 [https://www.latimes.com/archives/la-xpm-2001-may-31-fi-4587-story.html Medtronic to Buy MiniMed and Affiliate]

On 11 May 2009, Medtronic announced it had chosen San Antonio, Texas, for the location of its new Diabetes Therapy Management and Education Center. The company announced that it expected 1400 new jobs would be created to staff the {{convert|150000|sqft|m2|adj=on}} facility.{{cite web | url=http://wwwp.medtronic.com/Newsroom/NewsReleaseDetails.do?itemId=1242054328624&lang=en_US| title=Medtronic Announces San Antonio as Home of New Diabetes Facility | date=11 May 2009 | access-date=11 May 2009 | publisher=Medtronic}}

In September 2016, the FDA approved a device, the MiniMed 670G which was launched in 2017. It was the world's first Hybrid Closed Loop system for people with type 1 diabetes. Featuring the company's advanced algorithm - SmartGuard technology and glucose sensor - Guardian™ Sensor 3, it was the first insulin pump approved by the Food and Drug Administration (FDA) that enabled personalized and automated* delivery of basal insulin, the background insulin needed to maintain stable blood sugar levels throughout the day and night. The advanced SmartGuard Auto Mode algorithm worked in conjunction with the company's glucose sensor - Guardian Sensor 3 - to self-adjust basal insulin delivery based on the glucose sensor.{{cite web|title=Recently approved devices: The 670G System – P160017|url=https://www.fda.gov/MedicalDevices/ProductsandMedicalProcedures/DeviceApprovalsandClearances/Recently-ApprovedDevices/ucm522764.htm|archive-url=https://web.archive.org/web/20160928191837/http://www.fda.gov/MedicalDevices/ProductsandMedicalProcedures/DeviceApprovalsandClearances/Recently-ApprovedDevices/ucm522764.htm|url-status=dead|archive-date=28 September 2016|publisher=FDA|date=28 September 2016}}

=Surgical technologies=

File:Передвижной американский томограф (ФЦН Тюмень).JPG, 2013]]

The surgical technologies business group designed and manufactured products for the diagnosis and treatment of ear, nose, and throat (ENT) diseases and cranial, spinal, and neurologic conditions. It also encompassed a surgical navigation division to design "StealthStation" systems, software, and instruments for computer assisted surgery (CAS) and a special intraoperative X-ray imaging system (3D fluoroscopy), known as the O-arm Imaging System. Many of the products are used for minimally-invasive surgical procedures. In 2016, the business unit was dissolved, and each site folded into new business groups.

=Renal Care Solutions=

The Renal Care Solutions business group designed and manufactured products for the diagnosis and treatment related to Renal organs like Kidney. In 2023 this business unit was spun off into an independent business called Mozarc Medical.

=Technology safety=

In 2011, an independent security researcher, Jay Radcliffe, revealed a security vulnerability in a Medtronic insulin pump at the Computer Security conference Black Hat Briefings, allowing an attacker to take control of the pump. Medtronic responded by assuring users of the full safety of its devices.{{cite web|author=JORDAN ROBERTSON – AP Technology Writer |url=https://minnesota.cbslocal.com/2011/08/25/insulin-pump-maker-medtronic-identified-after-hacking-talk/ |title=Insulin pump maker identified after hacking talk – CBSN Minnesota|publisher=minnesota.cbslocal.com/|date=25 August 2011 |access-date=14 Dec 2020}}

In 2008, a team of computer security researchers was able to take remote control of a Medtronic cardiac implant. The team, using an unused implant in a lab, was able to control the electrical shocks delivered by the defibrillator component and even glean patient data from the device.{{cite news|author= Barnaby j. feder|url=https://www.nytimes.com/2008/03/12/business/12heart-web.html?_r=0 |title=A Heart Device Is Found Vulnerable to Hacker Attacks |publisher=newyorktimes.com |date=12 March 2008 |access-date=23 May 2014}}

In February 2020, Medtronic recalled around 322,000 MiniMed insulin pumps with faulty pump retainer rings, which had been correlated to death and around 2,000 injuries.{{cite web|url=https://www.wcpo.com/news/national/medtronic-recalls-more-than-322k-insulin-pumps-tied-to-1-death-thousands-of-injuries|title=Medtronic recalls more than 322K insulin pumps tied to 1 death, thousands of injuries|website=wcpo.com|date=12 February 2020}}

=Portable ventilators=

On 30 March 2020, Medtronic shared its portable ventilator design specifications during the outbreak of COVID-19 pandemic, in order to accelerate global ventilator production.{{cite web|url=http://newsroom.medtronic.com/news-releases/news-release-details/medtronic-shares-ventilation-design-specifications-accelerate|title=Medtronic Shares Ventilation Design Specifications to Accelerate Efforts to Increase Global Ventilator Production|website=medtronic.com|date=30 March 2020}}

= Subsidiaries =

== Vitatron ==

Vitatron is a Netherlands-based European subsidiary of Medtronic. It is focused on development and manufacturing of cardiac pacing technology. Once an independently operating Dutch medical company, it was acquired by Medtronic in 1986.{{cite web|date=21 July 1997|title=Twin cities|url=http://www.bizjournals.com/twincities/stories/1997/07/21/story6.html|access-date=2 June 2019|website=www.bizjournals.com}}

Vitatron pacemakers are interrogated and programmed by Medtronic Carelink Model 2090 Programmer for Medtronic and Vitatron Devices, using a separate interface.{{cite web|title=Manual|url=http://manuals.medtronic.com/wcm/groups/mdtcom_sg/@emanuals/@era/@crdm/documents/documents/m931556a001_cont_20090206.pdf|url-status=dead|archive-url=https://web.archive.org/web/20160303231528/http://manuals.medtronic.com/wcm/groups/mdtcom_sg/@emanuals/@era/@crdm/documents/documents/m931556a001_cont_20090206.pdf|archive-date=3 March 2016|access-date=2 June 2019|website=manuals.medtronic.com}}

===History of Vitatron===

1956: Vitatron founded
1962: First Implantable pacemakers
1981: Microprocessor-driven, software-based pacemaker (DPG1)
1982: Rate Responsive pacemaker (TX1)
1984: Quintech DDD with automatic upper rate behavior ("mode switch")
1988: Daily Learn algorithm (Rhythmyx)
1997: First upgradeable pacemaker system with dedicated AF diagnostics, rate and rhythm control therapy.
2003: Vitatron goes digital: 1st Vitatron C-Series, the world's first fully digital pacemaker.{{cite press release|url=http://www.medscape.com/pages/editorial/pressreleases/pr-crm-medtronic26|title=World's First Fully Digital Pacemaker From Vitatron Wins FDA Clearance|publisher=Vitatron|via=Medscape|archive-url=https://archive.today/20121123163409/http://www.medscape.com/pages/editorial/pressreleases/pr-crm-medtronic26|archive-date=23 November 2012|access-date=25 August 2011|url-status=live}}
2004: 2nd Vitatron C-Series, digital, fast pacemaker.
2004: Vitatron T-Series: The full picture, digital pacemaker system.
2005: Vitatron C-Series, A3 models, a new top line range of digital pacemakers for bradycardic patients.

Public-private engagement

= Activism =

Medtronic is a corporate partner of Human Rights Campaign, a large LGBT advocacy organization.{{Cite web |date= |title=Corporate Partners |url=https://www.hrc.org/about/corporate-partners |url-status=live |archive-url=https://web.archive.org/web/20220714072833/https://www.hrc.org/about/corporate-partners |archive-date=2022-07-14 |access-date=2022-07-14 |website=Human Rights Campaign}}

Criticism

=Animal rights=

In 2005, 2008, and 2010 PETA threatened to submit a shareholder resolution to improve animal welfare standards in the company. In 2005, PETA attempted to stop five specific animal experiments that it deemed "crude and cruel". In 2008, PETA protested the outsourcing of animal testing to countries with lax animal welfare laws, such as China. In 2010, PETA attempted to stop Medtronic's reported use of live animals in testing and training. In response, Medtronic conducted a feasibility study that found that banning the use of live animals was impractical. As of 2015 Medtronic continued to use live animals for testing and training but stated that it would look for alternatives in the future. In each case, PETA withdrew its shareholder resolution after talks with Medtronic's leadership.{{cite news |last1=Moore |first1=Janet |date=8 July 2008 |title=Medtronic, PETA agree on care of test animals |agency=Star Tribune |url=http://www.startribune.com/business/24094604.html |access-date=10 February 2015}}{{cite news |last1=Sarvestani |first1=Arezu |date=19 May 2014 |title=Animals in labs: PETA's long history with the MedTech industry |agency=Mass Device |url=http://www.massdevice.com/features/animals-labs-petas-long-history-with-medtech-industry?page=3 |access-date=10 February 2015}}{{Update inline|date=January 2023|reason=Article stats that Medtronic used animal testing as of 2015, however has no infomation regarding it's use of animal testing since then, and it's use as of the year 2023. Eight years have passed since the stated use of animal testing and so the article needs a update on the company current practices.}}

=Tax inversion to Ireland=

{{See also|Corporation tax in the Republic of Ireland#Corporate tax inversions}}

File:Medtronic plc Headquarters Ireland.jpg

In June 2014, Medtronic announced it would execute a tax inversion to Ireland by acquiring Irish-based Covidien (a previous U.S. tax inversion to Ireland in 2007), for $42.9 billion in cash and stock.{{cite news |date=16 June 2014 |title=Medtronic acquires Covidien |work=Bloomberg |url=https://www.bloomberg.com/news/2014-06-16/medtronic-to-buy-device-maker-covidien-for-42-9-billion.html/}} The tax inversion enabled Medtronic to move its legal headquarters to Ireland, while maintaining its operational and executive headquarters in the U.S., thus allowing it to avoid taxation on more than $14 billion held overseas, and avail of Ireland's beneficial low corporation tax regime. Medtronic's tax inversion is the largest tax inversion in history,{{cite web |author=Emily Stewart |date=22 July 2017 |title=As Treasury Moves to Bring Back Inversions, Here are 7 of the Biggest Recent Deals |url=https://www.thestreet.com/slideshow/14222919/1/as-treasury-moves-to-bring-back-inversions-here-are-seven-of-the-biggest-recent-deals.html |publisher=TheStreet}} and given the changes in the U.S. tax-code in 2016 to block the Pfizer-Allergan Irish tax inversion, is likely to remain the largest.{{cite web |date=5 April 2016 |title=Treasury's New Inversion Rules |url=https://blogs.wsj.com/briefly/2016/04/05/treasurys-new-inversion-rules-at-a-glance/ |publisher=Wall Street Journal |quote=After a merger, if the shareholders of the former U.S. company own at least 80% of the combined firm, the government treats the new combined business is subject to U.S. taxes, basically negating the inversion, even if its address is abroad. If they own at least 60%, some restrictions apply but the company is still considered foreign. That’s led companies to keep their inversions below 60%—and prompted the government to propose rules halting various techniques for doing so.}} Medtronic CEO Omar Ishrak defended the tax inversion in a 2015 interview to the Financial Times saying, "We just followed the rules and the deal was done based on strategic merits".{{cite web |author=David Crow |date=27 January 2015 |title=Medtronic: the tax inversion that got away |url=https://www.ft.com/content/ddcd9ad6-a5cf-11e4-ad35-00144feab7de |work=Financial Times |quote=Omar Ishrak, the Bangladesh-born chairman and chief executive of Medtronic, says that buying Covidien was as much about corporate strategy as a tax: "We just followed the rules and the deal was done based on strategic merits. So that’s why it’s more resilient to some of the obvious things that the Treasury did"}} Ireland is less than 0.1% of Medtronic (or Covidien) sales, and the majority of Medtronic's sales, and an even greater percentage of Medtronic profits (due to the higher margins on U.S. medical devices), are from the U.S. healthcare system. In 2016, the Star Tribune reported that Medtronic was still winning U.S. Federal contracts and attending U.S. trade-missions as a U.S. company.{{cite web |author=Renae Merie |date=9 September 2016 |title=Medtronic, now based in Ireland, still reaps U.S. benefits |url=http://www.startribune.com/medtronic-now-based-in-ireland-still-reaps-u-s-benefits/392895471/ |publisher=Star Tribune |quote=Since its "inversion," the company has been awarded more than $40 million in federal contracts and its executives still work at its Fridley campus.}}

In terms of scale, on 23 November 2018, Ireland's largest stockbrokers, Davy Stockbrokers reported that the total capitalization of the Irish stock market was €104 billion (this does not include Medtronic, which Davy do not consider an Irish company).{{cite web |date=23 November 2018 |title=Davy Weekly Irish Stock Market Book |url=https://www.davyselect.ie/content/articles/weeklybook.pdf |publisher=Davy Stockbrokers}} In contrast, on the same day Medtronic's capitalization was listed on Bloomberg at just over $130 billion (or €115 billion).

Medtronic's acquisition of Covidien made Medtronic the world's largest medical device company by revenues.

=Response to 2022 Russian invasion of Ukraine=

During the 2022 Russian invasion of Ukraine, Medtronic refused to join the international community and withdraw from the Russian market. Research from Yale University updated on 28 April 2022, identifying how companies were reacting to Russia's invasion identified Medtronic in the worst category of "Digging In" ("F" rank), meaning Defying Demands for Exit: companies defying demands for exit/reduction of activities. As of June 2, 2025, Medtronic's standing has improved slightly, now identified in the "Buying Time" ("D" rank) category, meaning Holding Off New Investments/Development: companies postponing future planned investment/development/marketing while continuing substantive business.{{cite web |author= |title=Over 750 Companies Have Curtailed Operations in Russia—But Some Remain |url=https://som.yale.edu/story/2022/over-750-companies-have-curtailed-operations-russia-some-remain |access-date=28 April 2022 |website=Yale School of Management}}