Strategic Mgt project - Executive Summery Medtronic is...

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Executive Summery Medtronic is still the global leader in medical technology. Medtronic is doing business in more than 120 countries and has more than 37,000 employees worldwide. The company recorded revenues of $12,299 million during the fiscal year ended April 2007, an increase of 8.9% over 2006. The operating profit of the company was $3,515 million during fiscal year 2007, an increase of 11.2% over 2006. The net profit was $2,802 million in fiscal year 2007, an increase of 10% over 2006. Medtronic is devoting approximately 10 percent of its sales to research and development efforts. Medtronic is serving physicians, clinicians and patients in more than 120 countries. Also, Medtronic is operating through eight business divisions: cardiac rhythm disease management (CRDM); spinal and navigation; neurological; vascular; diabetes; cardiac surgery, ENT and Physio-control. In April 2007, Medtronic combined its existing Vascular and Cardiac Surgery businesses and formed Medtronic Cardiovascular. The company expanded its portfolio with the purchase of VidaMed in 2002, gaining VidaMed's transurethral needle ablation (TUNA) system, which treated benign prostatic hyperplasia (BPH), a non-cancerous condition also known as enlarged prostate. In late 2002, Medtronic completed its acquisition of Spinal Dynamics, a developer of artificial cervical disc designed to reduce recovery time and maintain mobility of the cervical spine after surgery. There are a limited number of large firms in the industry, and most are small start-up companies. Employees strongly understand and embrace the mission statement. Medtronic’s unique approach to the highest quality products and up most ethnical operations provides a solid trust between their products and their customers. Medtronic will leverage their technological and operational synergies to deliver better customer solutions, while improving productivity and financial performance. Future, expects to introduce a number of new products over the next few years, including artificial spinal discs and a drug-coated stent (a small tube that props open arteries), which should reduce its reliance on heartbeat-regulating devices. Medtronic gets 40% of sales from these devices, and the market for them has been growing slowly in recent years. Medtronic's sales of these devices were up just 2% for the fiscal year that ended last April 30. 1
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Company details Medtronic is the global leader in medical technology- alleviating pain, restoring health, and extending life for millions of people around the world. Medtronic develops and manufactures a wide range of products and therapies with emphasis on providing a complete continuum of care to diagnose, prevent and monitor chronic conditions . Every five seconds, somewhere in the world, a person’s life is saved or improved by a Medtronic product or therapy. The company was founded on April 29, 1949 in Minneapolis, Minnesota, USA, by Earl E. Bakken and Palmer J. Hermundslie. Medtronic does business in more than
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Strategic Mgt project - Executive Summery Medtronic is...

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