Medtronic is a world leading medical technology company, providing lifelong solutions
for people with chronic disease. We are committed to offering market-leading therapies
worldwide to restore patients to fuller, healthier lives. With beginnings in the
treatment of heart disease, we have expanded well beyond our historical core business
and today provide a wide range of products and therapies that help solve many
challenging, life-limiting medical conditions. We hold market-leading positions
in almost all of the major markets in which we compete.
We currently function in five operating segments that manufacture and sell
device-based medical therapies. Our operating segments are:
' Cardiac Rhythm Management (CRM)
' Spinal, Ear, Nose and Throat (ENT) and Surgical Navigation Technologies (SNT)
' Neurological and Diabetes
' Vascular
' Cardiac Surgery
Medtronic was founded in 1949, incorporated as a Minnesota corporation in 1957
and today serves physicians, clinicians and patients in more than 120 countries
worldwide. Beginning with the development of the heart pacemaker in the 1950s,
we have assembled a broad and diverse portfolio of progressive technology expertise
both through internal development of core technologies as well as acquisitions.
We remain committed to a mission written by our founder more than 40'years ago
that directs us "to contribute to human welfare by application of biomedical
engineering in the research, design, manufacture and sale of products that alleviate
pain, restore health and extend life."
our success in leading global advances in medical technology is rooted in several
key strengths:
' Broad and deep technological knowledge of microelectronics, implantable devices
and techniques, power sources, coatings, materials, programmable devices and
related areas, as well as a tradition of technological pioneering and breakthrough
products that not only yield better medical outcomes, but more cost-effective
therapies.
' Strong intellectual property portfolio that underlies our key products.
' High product quality standards, backed with stringent systems to ensure consistent
performance, that meet or surpass customers expectations.
' Strong professional collaboration with customers, extensive medical educational
programs and thorough clinical research.
' Full commitment to superior patient and customer service.
' Long experience with the regulatory process and sound working relationships
with regulators and reimbursement agencies, including leadership roles in helping
shape policy.
' A proven financial record of sustained growth and continual introduction
of new products.
Customers and Competitors
The primary medical specialists who use our implanted cardiac rhythm devices
include electrophysiologists, implanting cardiologists and cardiovascular surgeons.
We hold the leading market position among implantable cardiac rhythm device
manufacturers. Our primary competitors in this business are Guidant Corporation
and St. Jude Medical,'Inc.
The primary medical specialists who use our spinal and SNT products are spine
surgeons, orthopedic surgeons and neurosurgeons. The primary medical specialists
who use our ENT products are ENT surgeons (otorhinolaryngologists). Our primary
competitors in the Spinal business are Zimmer'Inc., Johnson'&'Johnson, Inc.,
Stryker Corporation, and Synthes-Stratec,'Inc.; the most significant competitors
in the ENT business are Gyrus Group PLC and Stryker Corporation; and the primary
competitors in the SNT business are BrainLAB,'Inc. and Stryker Corporation.
The primary medical specialists who use our neurological products are neurosurgeons,
neurologists, pain management specialists, and orthopedic spine surgeons. The
primary medical specialists who use our diabetes products are endocrinologists
and internists, and those who use our gastroenterology and urology products
are urologists, urogynecologists and gastroenterologists. Our primary competitors
for neurological products are Advanced Neuromodulation Systems,'Inc., Johnson'
& Johnson, Inc., Boston Scientific Corporation and Stryker Corporation.
Our most significant competitors for diabetes products are Animas Corporation,
Roche'Ltd. and Smiths Group plc. Our primary competitors for gastroenterology
and urology products are Boston Scientific Corporation and Urologix,'Inc.
The primary medical specialists who use our products for treating coronary
artery disease are interventional cardiologists, while products treating peripheral
vascular disease may be used by interventional radiologists, vascular surgeons
and interventional cardiologists. Our primary competitors in the Vascular business
are Boston Scientific Corporation, Guidant Corporation and Johnson'& Johnson,'
Inc.
The principal medical specialists who use our cardiac surgery products are
cardiac surgeons. Our primary competitors in the Cardiac Surgery business are
Edwards LifeSciences Corporation, Guidant Corporation, Johnson'& Johnson,
Inc., and St. Jude Medical,'Inc.
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