Minneapolis-based 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.

Tag:

Medtronic

Latest Headlines

Latest Headlines

Medtronic, J&J's Cordis headline EuroPCR 2013

EuroPCR kicked off in Paris on Tuesday, bringing devicemakers from around the globe together to unveil data and angle for attention from the continent's interventional cardiovascular specialists. Here's a look at some early highlights from the conference.

Medtronic's revenue grows on international success

Medtronic raked in $4.5 billion in revenue last quarter, riding a jump in international sales to 4% growth, but a spike in charges brought net profits down 2%.

Supreme Court takes up Medtronic, Boston Scientific patent spat

The lengthy patent dispute between Medtronic and Boston Scientific will end in the nation's highest courtroom, as the Supreme Court has agreed to hear Medtronic's plea to avoid paying cardiac device royalties.

Medtronic wins CE mark for clot-removal tech

Medtronic snagged a CE mark for the Export Advance aspiration catheter, planning to launch the clot-removing device in Europe and other international markets.

Report: Roche looking to unload blood glucose meter business

Roche may be trying to unload its blood glucose meter business, reflecting continued challenges over reimbursement, and a contrast from the far better success the company has enjoyed with diagnostics development.

Goldman Sachs sinks $20M into India devicemaker

Goldman Sachs is the latest multinational to see promise in India's surging medical tech industry. The global investment bank invested about $20 million in BPL Medical Technologies to help the medical device and instrument company's expansion plans.

Nanostim reports early human success with leadless pacer

Nanostim says its tiny wireless cardiac pacemaker has shown some success in its first three human patients, early signs that the potentially disruptive technology has legs. And the company's advance, presented this week at the Heart Rhythm Society meeting in Denver, may give it the lead over larger medical device rivals trying to come up with something similar.

Medtronic's Ishrak: Renal denervation hasn't caught on yet in Europe

Medtronic has generated plenty of buzz about its renal denervation technology, which is designed to deaden the nerves in the kidneys to combat drug-resistant hypertension. But it has been slow to catch on in Europe, where reimbursement struggles remain.

St. Jude cardiac devices win CE mark approval

St. Jude Medical gained a pivotal CE mark for two next-generation lines of implantable cardioverter defibrillators and cardiac resynchronization therapy defibrillators, advancing in Europe even as its rivals win U.S. approval for competing devices.

Biotronik gains FDA's sign-off for defibrillator line

Germany's Biotronik won the FDA's sign-off for its Ilesto line of cardioverter-defibrillator/cardiac resynchronization therapy defibrillators (ICD/CRT-D).