Minneapolis-based Medtronic was founded in 1949 as a medical equipment repair shop by Earl Bakken and his brother-in-law, Palmer Hermundslie. The company has roughly 40,000 employees. 

The company reported worldwide revenue of $3.961 billion during Q3 2011 versus $3.851 billion during the same period of 2010.

Thus far in 2011, Medtronic has seen the FDA reject Amplify, a spine device that was linked to higher cancer malignancy than alternative procedures for degenerative disc disease patients. But it has also seen expansion in Asia with its opening facilities in Shanghai and Singapore.

At the end of 2010, Chairman and CEO William Hawkins announced his retirement as of April 29.

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Medtronic sets sights on hospital and product innovation post-Covidien deal close

With its $49.9 billion purchase of Covidien under its belt, Medtronic is laying out goals for life as a combined company. The device giant is planning to transform healthcare delivery by broadening its product offerings and working more closely with hospitals, two strategies that could yield immediate and long-term growth.

Medtronic and Covidien to close $43B merger today with Irish High Court approval

Weeks after Medtronic and Covidien won shareholder approval for their $43 billion merger, the companies expect to finalize the deal today after the Irish High Court signed off on the pending acquisition.

FDA approves next-gen Medtronic device to treat drug-refractory gastroparesis

The FDA has approved a second-generation Medtronic device to treat gastroparesis patients who are not able to control nausea and vomiting using drugs. The Enterra II System has been approved under a humanitarian device exemption, which is used by the agency to approve devices intended for a population of fewer than 4,000 people in the U.S.

Medtronic's latest MiniMed insulin pump launches in Australia, global rollout planned

Medtronic's MiniMed 640G insulin pump is now available in Australia, with additional launches pending local approval. The company says the device represents the latest march toward the development of an artificial pancreas.

Medtronic and Covidien win shareholder approval for proposed $43B merger

Medtronic and Covidien are nearing the finish line of their pending $43 billion merger as Medtronic shareholders voted on Tuesday to approve the deal, following in the footsteps of a similar vote from Covidien shareholders. 

UPDATED: FDA approves Medtronic's drug-coated balloon, setting up clash with Bard in new U.S. market

The FDA gave PMA approval to Medtronic's IN.PACT Admiral drug-coated balloon for the treatment of peripheral artery disease in the upper leg, making it a competitor to C.R. Bard's recently approved Lutonix 035 balloon.

Medtronic touts positive drug-coated balloon study results as FDA approval looms

Medtronic touted study results in the journal  Circulation  showing that its In.Pact Admiral drug-coated balloon fared better than traditional balloon angioplasty in the treatment of symptomatic peripheral artery disease in the upper leg.

Medtronic reaches another milestone in developing its artificial pancreas

Medical device giant Medtronic said it reached another milestone in developing an artificial pancreas with the completion of global evaluations of its new insulin delivery system.

Medtronic launches biofragmentable, injectable nasal packing and stent for sinus surgery

Medtronic has launched NovaShield Injectable Nasal Packing and Stent for functional endoscopic sinus surgery after an FDA approval in October. It's a gel made from chitosan that's placed in the sinus or nasal cavities after the surgery.

Med tech M&A deal value up 6-fold in 2014

This has been a good year for M&A in the medical device industry. The number of deals rose 39% to 57 announced transactions. Moreover, deal value more than sextupled to $86 billion, up from $14 billion in 2013.