30 Facts About Medtronic


Medtronic plc is an American medical device company based in Ireland for tax purposes.

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Medtronic has an operational and executive headquarters in Minneapolis, Minnesota in the US.

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In 2015, Medtronic acquired Irish–tax registered Covidien, in the largest U S corporate tax inversion in history, which enabled Medtronic to move its legal registration from the U S to Ireland.

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Medtronic was founded in 1949 in Minneapolis by Earl Bakken and his brother-in-law, Palmer Hermundslie, as a medical equipment repair shop.

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Medtronic built headquarters in the Minneapolis suburb of St Anthony, Minnesota, in 1960 and the company moved to Fridley in the 1970s.

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In 1997, Medtronic opened a production site for implantable pacemakers and brain pacemakers in Tolochenaz, Switzerland.

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In May 2019, Medtronic announced it would acquire Titan Spine, a technology company focusing on titanium spine implants.

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In January 2022, the business announced it would acquire Affera, Inc In March, Medtronic announced a contract with Vizient, a healthcare performance improvement company, to add Medtronic's Touch Surgery Enterprise platform to Vizient's healthcare offerings.

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In 2010, PETA attempted to stop Medtronic's reported use of live animals in testing and training.

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Medtronic continues to use live animals for testing and training but has said that it will look for alternatives in the future.

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In June 2014, Medtronic announced it would execute a tax inversion to Ireland by acquiring Irish-based Covidien plc, for $42.

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The tax inversion enabled Medtronic to move its legal headquarters to Ireland, while maintaining its operational and executive headquarters in the U S, thus allowing it to avoid taxation on more than $14 billion held overseas, and avail of Ireland's beneficial low corporation tax regime.

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In 2016, the Star Tribune reported that Medtronic was still winning U S Federal contracts and attending U S trade-missions as a U S company.

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In contrast, on the same day Medtronic's capitalization was listed on Bloomberg at just over $130 billion .

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In May 2018, Medtronic was ranked as the world's largest medical device company by 2017 revenues .

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In May 2018, Medtronic was ranked as the largest corporate tax inversion in history.

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Medtronic has four main business units: the Minimally Invasive Therapies Group, the Diabetes Group, the Restorative Therapies Group, and the Cardiac and Vascular Group.

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Medtronic develops and manufactures devices and therapies to treat more than 30 chronic diseases, including heart failure, Parkinson disease, urinary incontinence, Down syndrome, obesity, chronic pain, spinal disorders and diabetes.

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An independently-operating Dutch pacemaker manufacturer, Vitatron, acquired by Medtronic in 1986, is a European subsidiary of the unit.

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In 2007, Medtronic recalled its Sprint Fidelis product, the flexible wires, or leads, which connect a defibrillator to the interior of the heart.

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Studies since the recall, disputed by Medtronic, suggest that the failure rate of already-implanted Sprint Fidelis leads is increasing exponentially.

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Medtronic is the world leader in spinal and musculoskeletal therapies.

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In 2007, Medtronic purchased Kyphon, a manufacturer and seller of spinal implants that are necessary for procedures like kyphoplasty.

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In May 2008, Medtronic Spine agreed to pay the US government $75 million to settle a qui tam lawsuit after a whistleblower alleged that Medtronic committed Medicare fraud.

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Medtronic was charged with illegally convincing healthcare providers to offer kyphoplasty, a spinal fracture repair surgery, as an inpatient, not an outpatient, procedure to make thousands of dollars more in profits per surgery.

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Diabetes management manufacturing and sales division of Medtronic is based on the perimeter of the California State University, Northridge campus in Northridge, California.

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On 11 May 2009, Medtronic announced it had chosen San Antonio, Texas, for the location of its new Diabetes Therapy Management and Education Center.

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Medtronic responded by assuring users of the full safety of its devices.

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On 30 March 2020, Medtronic shared its portable ventilator design specifications during the outbreak of COVID-19 pandemic, in order to accelerate global ventilator production.

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Medtronic is a corporate partner of Human Rights Campaign, a large LGBT advocacy organization.

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