Tech-Health-Explore: Breaking Down the Companies Tracking Our Bodies: Medtronic Part 6 – A Concluding, Public Review

Exploring the World’s Largest Medical Device Maker

As a rule, we follow the technological advancements of corporate giants in tech health to help inform those of us individuals choosing to define for ourselves who we are and what we want to be in a world of powerful corporate and governmental elites. That means knowing the world and those tracking us, good and bad.

Incredible advancements are made every day by health companies seeking to do good in the world, no doubt. However, we need to follow and examine them to enhance our own capabilities and positioning. We are not victims, we are active agents in our lives. Our Health is Our Own!

This week we return to our sixth and final installment in our investigation of the world’s largest device maker: Medtronic (Full Disclosure, we are long Medtronic, which means we are invested for the long term with this company). As we have already done a mini-introduction, a deeper first step into understanding this company, an exploration of the cardiac subdivision, a quick shot analysis of minimally invasive therapies unit, a deep dive on the restorative therapies division, and ugh, yeah we are out of breath too, a deep dive on the smallest group at Medtronic, the Diabetes Group, coming in at just $2.4Billion in the revenue pie.

Under Final Consideration: In the News & Public Response

While we have already noted patient reaction in response to the technologies of Medtronic across the review of the company’s various segments and found the technologies themselves to be truly beneficial and welcomed, we’ve yet to go outside. Outside to the business, medical, and general public communities at large. In order to gain perspective, we now do just that and go wide.

Global Recognition

When stepping back to try to get a grip on what the broader world thinks of this company, the first thing that comes to your attention is recognition.

Across the world’s biggest company’s, Medtronic is consistently recognized as being both admirable and one of the finest in its field particularly toward its efforts with regard to inclusive employment. They find themselves again on Forbes top listings.

Furthermore, Medtronic has self-published its record and been recognized in the industry for its efforts in “Global Inclusion, Diversity, and Equity” with regard to their employment practices.

And when it comes to the tech itself, Medtronic is typically a cut above in performance.

It shows when being the first to be recognized by the FDA as well. Back in 2016, Medtronic again demonstrated its prowess with the world’s first cleared device that would serve as an artificial pancreas for those suffering with diabetes.

Recognizing Internal Past Limitations

Concerning the limited global response to many of its past efforts, Medtronic is realizing it must get more into the promotional game. As its technologies continue to push healthcare to new, life-changing heights, it’s recognizing the need to become a more visible player. The new CEO Geoff Martha has begun making specific references to this…

Pushing the cyberpunk limits of including technology into healthcare and move off the pill for physical enhancement is coming to fruition with the new drive of this company and CEO Geoff Martha talked all about the need to do exactly this on a Yahoo! Finance interview back in January 2021.

Changing Investment and Analyst Perspectives

With a focus on innovative robotic surgery, Medtronic is beginning to demonstrate its effectiveness and abilities in one of the biggest growth sectors, not to mention tech’d up body mod potential – ok for basic health, but its still a modification by robot – in medicine today. Better yet they are being recognized for these efforts…

A Contributor to the Public Good

And when the global health crisis began last year, Medtronic stepped up and shared out designs for ventilators at a crucial time with the world experiencing a dramatic shortage that was putting lives at stake. Medtronic came through with an unusual offering and opened up its designs to any company that could produce the product. This was definitely a clarion call to its commitment toward public health for the sake of public health and wellbeing.

However, in September/October of 2020, allegations came forward that perhaps Medtronic had limited competition in the first place for ventilators. However, it doesn’t appear that the accusations are really directed at Medtronic but as a byproduct of some of their acquisitions prior to the health crisis.

It is definitely worth noting that the article does state that Medtronic’s acquisition was reviewed and cleared of antitrust issues by the Federal Trade Commission. So we imagine the antitrust claim will be a hard one to make stick. Seeing as how they were already reviewed and cleared for the purchase of the two companies being acquired (Covidien PLC, and Newport through Covidien as listed in the image above).

Conclusion

Ok, so we admit we didn’t dig too deep into the far past of this company. But in our defense this is a company that has a new CEO, is promising new directions, has received a lot of attention for its recent efforts, and seems to be making a bunch of changes towards public accountability and responsibility. For us, it’s hard to deny that Medtronic is anything but a company dedicated to its “first and foremost priority… (being) … to contribute to human welfare.”

Having reviewed multiple aspects of this company we can definitely conclude that a high, powered global mega-corp, it absolutely is. High-end, disruptive medical technologies built on changing human health fuel this corporate giant without question. Is it powerful, does it make some strange statements, and does it command plenty of financial assets, you bet ya! But, in the end, Medtronic is a global health company with a heart, concerned with finding the path to aiding our lowly lives in Health! And the best part is, it does so rooted in advancing disruptive tech in healthcare that can further fuel and redefine our individual lives!