March 7th 2013
£295 / $515 / €370
Founded in 1949, Minnesota, US-based Medtronic has grown to become a leading developer and manufacturer of medical devices designed to diagnose, prevent and monitor chronic conditions. Beginning with the development of the heart pacemaker in the 1950s, the company has assembled a broad and diverse portfolio of progressive technology expertise both through internal development of core technologies and acquisitions.
Medtronic’s primary products include those used for the treatment of cardiac rhythm disorders, cardiovascular disease, neurological disorders, spinal conditions and musculoskeletal trauma, urological and digestive disorders, diabetes, and ear, nose and throat conditions. The company operates under two principal business segments:
The Cardiac and Vascular Group (composed on the Cardiac Rhythm Disease Management [CRDM] and CardioVascular businesses), whose product portfolio includes pacemakers, implantable defibrillators, leads and delivery systems, ablation products, electrophysiology catheters, products for the treatment of atrial fibrillation (AF), information systems for the management of patients with CRDM devices, coronary and peripheral stents and related delivery systems, therapies for uncontrolled hypertension, endovascular stent graft systems and heart valve replacement technologies.
In January 2012, Medtronic sold its Physio-Control business, previously part of the CardioVascular group, which offered a portfolio of external defibrillation and emergency response systems, data management solutions and support services. Since Medtronic and Physio-Control’s core businesses and customers are significantly different, both parties believed that Physio-Control will be able to move more quickly, be more competitive and have more direct focus on its customers as a separate entity.
The Restorative Therapies Group (composed of the Spinal, Neuromodulation, Diabetes and Surgical Technologies businesses), which offers products for various areas of the spine, bone graft substitutes, biologic products, implantable neurostimulation therapies and drug-delivery devices for the treatment of chronic pain, movement disorders, obsessive compulsive disorder, overactive bladder, urinary retention and gastroparesis; external insulin pumps; subcutaneous continuous glucose monitoring systems; and products to treat conditions of the ear, nose and throat. Additionally, this group manufactures and sells primarily image-guided surgery and intra-operative imaging systems, energy systems and haemostatic sealing products.
Medtronic conducts its business in more than 120 countries worldwide. In fiscal year (FY) 2012 (ended April 2012), the company generated sales of US$16.18 billion and employed approximately 45,000 people worldwide.
In FY2012, Medtronic made progress in positioning itself to succeed in the dynamic healthcare market. Revenue growth improved modestly from 1% in FY2011 to 4% in FY 2012. Three-quarters of the business posted strong performance, growing by a combined 10%. The remaining businesses, consisting of the US Implantable Cardioverter Defibrillator and US Spine businesses, declined by 10%. While these businesses had unique factors affecting their performance, both showed some signs of stabilisation by the end of FY2012. International revenue grew by 11% while emerging markets grew by 20% in constant currency, and 19% as reported.
In FY2012, Medtronic gained market share in the majority of its businesses, driven by a series of product launches. The Resolute Integrity drug-eluting stent, the RestorSensor spinal cord stimulator and the Endurant II AAA stent graft system are all expected to drive further growth in FY2013.
This company report provides
Investigates the company’s aims and its areas of focus
Core product areas, key brands, product approvals and launches
|Research and Development
Manufacturing and Distribution
Mergers, Acquisitions, Minority Investments and Divestments
Key Corporate Events
The report was produced as part of Medical Device Companies Analysis (MDCA). For more information on MDCA, click here.