Medtronic is a leading manufacturer of implantable biomedical devices.
The company was founded in 1949 by Earl Bakken and Palmer Hermundslie as a medical equipment repair store.
Through their business the partners met Dr. C. Walton Lillehei. Dr. Lillehei was a heart surgeon and was frustrated with the pacemakers of the day. He asked Bakken to develop a battery-powered pacemaker.
Bakken did so, and the company improved upon the design through research, eventually designing the first implantable pacemaker in 1960.
Today Medtronic operates in segments: Cardiac and Vascular Group and Restorative Therapies Group. The first produces catheters, stents, valves, balloons, and surgical technologies used to treat vascular and cardiac diseases. The latter makes nerve and brain stimulation devices, implantable drug delivery systems, products used to manage diabetes, and surgical devices for ear, nose, and throat and spinal conditions.
Medtronic is publicly traded on the New York Stock Exchange under the symbol MDT, is a member of the S&P 500, is #172 in the Fortune 500, has 45,000 employees, and had $17 billion in revenue in 2013.
MedtronicMedtronic is a leading manufacturer of implantable biomedical devices.
The company was founded in 1949 by Earl Bakken and Palmer Hermundslie as a medical equipment repair store.
Through their business the partners met Dr. C. Walton Lillehei. Dr. Lillehei was a heart surgeon and was frustrated with the pacemakers of the day. He asked Bakken to develop a battery-powered pacemaker.
History
Bakken did so, and the company improved upon the design through research, eventually designing the first implantable pacemaker in 1960.
Today Medtronic operates in segments: Cardiac and Vascular Group and Restorative Therapies Group. The first produces catheters, stents, valves, balloons, and surgical technologies used to treat vascular and cardiac diseases. The latter makes nerve and brain stimulation devices, implantable drug delivery systems, products used to manage diabetes, and surgical devices for ear, nose, and throat and spinal conditions.
Medtronic is publicly traded on the New York Stock Exchange under the symbol MDT, is a member of the S&P 500, is #172 in the Fortune 500, has 45,000 employees, and had $17 billion in revenue in 2013.