MEMORANDUM

TO: MCOM Professor, Tulane Freeman School of Business

FROM: MCOM Student, Tulane Freeman School of Business

DATE: February 7, 2018

SUBJ: Medtronic: A Medical Device Company

This memo will give a brief overview of Medtronic Public Limited Company. Medtronic is

among the world's largest medical equipment development companies, operating in more than

140 countries. The business employs over 85,000 people and has over 53,000 patents.

Small Company Grows into a Nationwide Corporation

Earl Bakken and Palmer Hermundsile founded Medtronic in 1949 as a medical equipment repair

shop, and the business grew into the world’s largest medical technology company. The founders’

inner drive to help others became the Medtronic Mission: “Written in 1960, our Mission dictates

that our first and foremost priority is to contribute to human welfare.” Medtronic’s first life-

changing invention was the wearable, battery-powered cardiac pacemaker. Over the years, it

developed other core technologies, such as implantable mechanical devices, drug and biologic

delivery devices, and powered and advanced energy surgical instruments.

Medtronic Consists of Four Business Units

Medtronic has four main business units, which develop and manufacture devices and therapies to

treat more than 30 chronic diseases. These units include the following departments:

 Cardiovascular and Vascular (CVG)

 Minimally Invasive Therapies (MITG)

  Diabetes

 Restorative Therapies (RTG)

Medtronic CVG offers treatment for cardiovascular disease and cardiac arrhythmias. The MITG

division seeks to enable earlier diagnosis and better treatment through less invasive therapies.

Medtronic Diabetes is the world leader in integrated diabetes management solutions, while the

Restorative Therapies Group develops life-restoring therapies and healthcare solutions.

Medtronic now leads the industry, helping millions of people around the world. The business

follows the values in its mission aiming to improve the lives of those with chronic illnesses. I

welcome any further discussion, and if you have any questions about the information provided,

you can reach me by phone.