New technologies for atrial fibrillation, hypertension, diabetes and neurological conditions are poised for fast growth, said Medtronic’s CEO Geoff Martha at the recent J.P. Morgan Healthcare Conference.
Five years ago, Medtronic executives set out to change the company culture and prioritise financial performance alongside innovation. The medtech giant centralised operations to lower costs, brought in new leaders and added performance incentives to hasten the culture shift. Capital and human resources were allocated to areas of medtech with the highest growth potential. As result, Martha has told investors that the company’s product pipeline is now well-positioned to drive improved earnings.
Medtronic’s biggest businesses, which include cardiac rhythm management, spine and transcatheter heart valves, are “growing well,” the CEO said, “and then we’re stacking growth drivers on top of growth drivers” in fast-developing medtech markets. Medtronic executives also outlined four categories where the company expects the highest growth from new products in the near term: cardiac ablation, renal denervation, neuromodulation and automated insulin delivery systems for diabetes management.
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