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 scores victory in ongoing patent war with Mirowski

Medtronic scored a victory in its ongoing patent war with Mirowski Family Ventures, as the U.S. Supreme Court passed on hearing an appeal from Mirowski over patents for implantable defibrillator devices.

Medtronic starts next-gen insulin pump trial, a step toward artificial pancreas

Medtronic announced that the first patients have enrolled in the pivotal trial of its its next-generation integrated insulin pump and continuous glucose monitoring system and the Predictive Low Glucose Management algorithm. Up to 84 patients will enroll in the trial at 8 centers across the U.S.

Drug delivery: Fertile ground for pharma-device company partnerships?

BOSTON-- Whether through collaboration with academia or buyouts of smaller players, panelists at the Partnership Opportunities in Drug Delivery conference concurred that Big Pharma is increasingly looking externally for innovation and using its size and financial to power candidates through clinicial and onto the market.

Medtronic reveals corporate shakeup pending close of Covidien deal

Days after Medtronic revealed plans to refinance its $42.9 billion acquisition of Covidien due to new tax rules cracking down on inversions, the company announced a corporate shakeup pending the deal's close.

Med tech deal value up 363% in first half, with megadeals still pending

A recent report by Evaluate MedTech released at the annual AdvaMed med tech conference in Chicago found that M&A deal value in the med tech sector grew by 363% year over year in the first half of 2014 to $30 billion.

Medtronic undeterred by new regs, to finance acquisition of Covidien with external funds

Medtronic announced that it will fund its $43 billion acquisition of Ireland's Covidien using $16 billion in external financing instead of capital from its foreign subsidiaries. The tweak is in response to Treasury Department rules designed to discourage inversions.

Med tech attorneys say FDA ramping up monitoring of device promotion

Device advice was in abundance at today's Food and Drug Law Institute panel discussion on the industry's compliance with promotion and advertising regs, featuring prominent industry lawyers from Medtronic, Covidien, Abbott and law firms.

Medtronic may revise $42.9B deal with Covidien under new tax rules

In light of new U.S. tax rules tightening the reins on corporate inversions, Medtronic could be poised to revise its $42.9 billion deal with Ireland-based Covidien.

Analysis: Treasury Department's move designed to create uncertainty

The Treasury Department's issuance of a notice cracking down on inversions was designed to create uncertainty, says Terry Haines, head of political analysis at investment research firm ISI Group. By that count, the move has succeeded. Questions abound. Will one of the affected companies sue to challenge the legal validity of the agency's action? And what's next? The 42-page notice requests comment and says that the Treasury Department and the IRS expect to issue additional guidance.

Treasury's crackdown on inversion could scupper Medtronic-Covidien deal

Treasury Secretary Jacob Lew yesterday unveiled a plethora reforms to make tax inversion more difficult and less attractive, potentially killing a plethora of pending mergers with foreign companies, including Medtronic's $43 billion tie-up with Ireland's Covidien.