Develops technology for medical products.

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Headquarters: 710 Medtronic Parkway
Minneapolis, MN 55432
Employees: 38,000
CEO: Omar Ishrak
Stock Symbol: MDT


Career Site

Medtronic is a global leader in medical technology -- alleviating pain, restoring health, and extending life for millions of people around the world. With deep roots in the treatment of heart disease, Medtronic now provides a wide range of products and therapies -- every five seconds, somewhere in the world, a person's life is saved or improved by a Medtronic product or therapy.

The company's key businesses include:

- Medtronic Cardiac Rhythm Management (CRM) develops products that restore and regulate a patient's heart rhythm, as well as improve the heart's pumping function. The business markets implantable pacemakers, defibrillators, cardiac ablation catheters, monitoring and diagnostic devices and cardiac resynchronization devices, including the first implantable device for the treatment of heart failure. In addition, the business markets automated external defibrillators (AEDs) - which are increasingly being placed in public places, such as businesses, airports, shopping centers and even homes ­ and the CareLink Patient Network, the industry's first Internet-based network to enable physicians to remotely monitor their patients who have cardiac devices.
- Medtronic Cardiac Surgery develops products that are used in both arrested and beating heart bypass surgery. The business also markets the industry's broadest line of heart valve products for replacement and repair, plus autotransfusion equipment and disposable devices for handling and monitoring blood during major surgery, as well as cardiac ablation devices to treat a variety of heart conditions.
- Medtronic Vascular offers products and therapies that treat a wide range of vascular diseases and conditions. These products include coronary, peripheral and neurovascular stents, stent graft systems for diseases and conditions throughout the aorta, and distal protection systems. The business is also moving forward with the development of a drug-eluting stent to prevent restenosis. Medtronic Vascular also markets a full line of balloon angioplasty catheters, guide catheters, guidewires, diagnostic catheters and accessories.
- Medtronic Neurological offers neurostimulation and drug pump and infusion therapies for chronic pain, Parkinson's disease and other common movement disorders. It also offers diagnostics and therapeutics for gastrointestinal and urological conditions, including incontinence, benign prostatic hyperplasia (BPH)/enlarged prostrate and gastroesophageal reflux disease.
- Medtronic Diabetes products include internal and external glucose monitors and insulin pumps.
- Medtronic Spinal and Navigation develops and manufactures products that treat a variety of disorders of the cranium and spine, including traumatically induced conditions, deformities and tumors. Through the introduction of INFUSE Bone Graft and Minimal Access Spinal Technologies, the business has distinguished itself as a global leader in less-invasive surgical techniques. It also develops a variety of image-guided surgical navigation systems.

The company does business in more than 120 countries. World headquarters are in Minneapolis. Regional headquarters are in Switzerland and Japan.

For fiscal 2012, Medtronic had record revenues of $16.18 billion, a 3% increase, and net income of $3.61 billion. Omar Ishrak became CEO of the company in June following the retirement of Bill Hawkins. Ishrak was the CEO of GE Healthcare.International revenue was $7.31 billion in 2012.


The company was founded on April 29, 1949 in Minneapolis, MN, by Earl E. Bakken and Palmer J. Hermundslie.


Performance Based Pay
Medtronic uses a market-based pay approach to establish competitive base pay levels. This approach links Medtronic directly to the external labor market, which allows us to respond to changing labor market conditions. The market value of jobs in relevant labor markets determines the overall pay parameters; an individual's actual base pay is determined by their responsibilities, performance, and ongoing development.
Medtronic Incentive Program
The Medtronic Incentive Program is designed to motivate employees to achieve the Company's operating goals by providing the opportunity for incentive compensation in addition to base pay. Participants have the opportunity to earn above market compensation when actual corporate, sector, geographic and/or business specific financial performance exceeds objectives.
Recognition Programs
Medtronic uses a broad array of recognition programs to acknowledge and reward exemplary individual or team performance. These programs are designed to encourage continued creativity and superior performance and to retain high performing employees. Rewards may include cash, stock options, gift certificates, and other forms of recognition. All employees are eligible.
Employees Stock Purchase Plan
Employees can contribute up to 10% of their eligible after tax income through payroll deductions to purchase Medtronic stock at 85% of the lower market value at either the beginning or end of the plan year.
Retirement Plans
Medtronic provides retirement benefits for eligible employees, in addition to stock ownership opportunities.  These include a retirement plan, a 401(k) plan with a company match, and financial education and planning tools.
Additional Employee Resources
In addition to the competitive benefits package that includes vacation, holidays, medical and dental insurance coverage, life insurance, and short- and long-term disability coverage, we offer a number of programs to meet the evolving needs of our employees:
Health and Wellness
Medtronic values the enhanced health and wellness of our employees and their families. Resources are available to help each individual maximize their overall well-being. There is an emphasis on consumer-driven health care and prevention of illness and injury.
- Medical and dental coverage for family members, including domestic partners
- Disability protection
- On-site fitness centers
- Customized wellness programs
- Massage therapy programs
- On-site wellness screening and health risk assessments
- Action teams (fitness, sports and other interests)
Individual and Family Well-Being
Personal growth and community involvement are emphasized at Medtronic. In addition, Medtronic provides resources for employees' personal and family concerns to meet needs such as developing healthy relationships at work, achieving work and home balance or locating community resources.
- Medtronic Employee Assistance Program
- Childcare referral
- Elder care assistance
- Flexible work schedules
- Long Term Care Insurance
- Scholarships for children of Medtronic employees
- Tuition reimbursement
- Adoption assistance benefits
- Rooms designated for nursing mothers
- Sick childcare options
- On-site childcare center at World Headquarters

Updated June 4, 2012