Full Description

Medtronic, Inc. (Medtronic), incorporated in 1957, is a global player in medical technology. The Company operates in seven segments that manufacture and sell device-based medical therapies: Cardiac Rhythm Disease Management (CRDM), Spinal, CardioVascular, Neuromodulation, Diabetes, Surgical Technologies and Physio-Control. Through these seven operating segments, the Company develops, manufactures and markets its medical devices in more than 120 countries. Its primary products include those for cardiac rhythm disorders, cardiovascular disease, neurological disorders, spinal conditions and musculoskeletal trauma, urological and digestive disorders, diabetes, and ear, nose and throat conditions. The primary markets for products are the United States, Western Europe and Japan. In July 2008, Medtronic acquired Restore Medical, Inc. In November 2008, Medtronic acquired CryoCath Technologies Inc. In February 2009, the Company acquired Ablation Frontiers, Inc. and Ventor Technologies Ltd. In April 2009, Medtronic acquired CoreValve, Inc.

Cardiac Rhythm Disease Management

CRDM is a supplier of medical devices for cardiac rhythm disease management. Medtronic’s CRDM products are designed to treat and monitor a range of heart conditions, including bradycardia, tachyarrhythmia, heart failure, sudden cardiac arrest, atrial fibrillation and syncope. It offers an array of products in the industry for the diagnosis and treatment of heart rhythm disorders and heart failure. The Company has developed implantable devices that address combinations of arrhythmias. In addition to implantable devices, it also provides leads, ablation products, electrophysiology catheters and information systems for the management of patients with its devices. The Company’s CRDM devices are implanted in approximately 2.5 million patients worldwide.

Medtronic’s Adapta family of automatic pacemakers, which includes the Adapta, Versa and Sensia models, incorporates an array of automatic features to help physicians. The Adapta family is the Company’s portfolio of pacemakers, which also includes the EnRhythm and EnPulse families. Medtronic’s family of dual and single chamber implantable cardioverter-defibrillators (ICDs) offer features, including anti-tachyarrhythmia pacing (ATP) during charging, optivol fluid status monitoring (OptiVol), its pacing mode managed ventricular pacing (MVP) and Conexus Wireless Telemetry with SmartRadio. ATP during charging is a feature that uses pacing pulses to stop fast, dangerous heartbeats, while concurrently preparing to deliver a shock, if needed.

The Company competes with Boston Scientific Corporation, St. Jude Medical, Inc., Biotronik, Inc. and Sorin Group.

Spinal

The Company’s Spinal business is a supplier for medical devices and implants used in the treatment of the spine. Medtronic offers a range of products and therapies to treat a variety of conditions of the spine. Its Spinal business offers products for treatment and diagnosis of spinal conditions, including Herniated Disc, Degenerative Disc Disease, Spinal Deformity, Spinal Tumors, Trauma/Fracture and Stenosis. The Company’s Spinal products include thoracolumbar, cervical and interbody devices that are employed utilizing the surgical techniques, including the minimal access spinal technologies (MAST) along with bone growth substitutes, and devices for vertebral compression fractures and spinal stenosis.

The Company competes with Johnson & Johnson, Synthes-Stratec, Inc., Stryker Corporation, Zimmer, Inc. and NuVasive Inc.

CardioVascular

Medtronic’s CardioVascular business offers a line of products and therapies to treat coronary artery disease, abdominal and thoracic aortic aneurysms, peripheral vascular disease, and heart valve disorders. The Company’s CardioVascular business offers products for the treatment of the conditions, including coronary artery disease, peripheral vascular disease, abdominal and thoracic aortic aneurysm (AAA/TAA) and heart valve disorders. The Company’s CardioVascular products include coronary and peripheral stents and related delivery systems, endovascular stent graft systems, distal embolic protection systems, perfusion systems, which oxygenate and circulate a patient’s blood during arrested heart revascularization surgery, positioning and stabilization systems for beating heart revascularization surgery, products for the repair and replacement of heart valves, surgical ablation products, and a line of balloon angioplasty catheters, guide catheters, guidewires, diagnostic catheters and accessories.

The Company competes with Boston Scientific Corporation, Johnson & Johnson, Abbott Laboratories, Cook, Inc., W. L. Gore & Associates, Inc., Edwards LifeSciences Corporation, Boston Scientific Corporation, St. Jude Medical, Inc., Terumo Medical Corporation and Sorin S.p.A.

Neuromodulation

The Company’s Neuromodulation business develops, manufactures, and markets devices for the treatment of neurological, urological, and gastroenterological disorders. Its Neuromodulation business offers products for the treatment or diagnosis of the conditions, including pain management, movement disorders, urological and gastroenterological disorders, and psychological disorders. Neuromodulation products consist of therapeutic devices, including implantable spinal cord stimulation systems used to treat intractable chronic pain; deep brain stimulation systems to treat movement disorders like Parkinson’s disease, as well as obsessive compulsive disorder (OCD); implantable intrathecal drug delivery systems for intractable spasticity and intractable chronic pain; sacral nerve stimulation systems to treat overactive bladder and urinary incontinence; a product for the treatment of BPH, or enlarged prostate, and a gastric stimulator for gastroparesis.

The Company competes with Boston Scientific Corporation, St. Jude Medical, Inc., Urologix, Inc. and American Medical Systems, Inc.

Diabetes

Medtronic’s Diabetes business develops diabetes management solutions. Medtronic’s Diabetes business offers solutions for the treatment of diabetes, the inability to control glucose (blood sugar) levels resulting from the body’s failure to produce or properly use insulin. The Company’s products include integrated diabetes management systems, external insulin pumps, continuous glucose monitors (CGM), carelink therapy management software and blood glucose meters. The Company’s insulin pumps are primarily used by patients with type 1 diabetes, which occurs when the pancreas stops producing insulin. In order to survive, people with type 1 diabetes must administer insulin on a daily basis. Its therapies are also helpful in managing insulin-dependent type 2 diabetes, which results from the body’s inability to produce enough insulin or properly use the insulin.

The Company competes with Abbott Laboratories, DexCom, Inc., Insulet Corporation, Johnson & Johnson and Roche Ltd.

Surgical Technologies

The Company’s Surgical Technologies business develops, manufactures, and markets products and therapies to treat diseases and conditions of the ear, nose and throat (ENT), and certain neurological disorders. In addition, the segment manufactures and markets image guided surgery systems that facilitate surgical planning during precision cranial, spinal, sinus and orthopedic surgeries. Medtronic’s Surgical Technologies products are used in the treatment of the conditions, including ENT diseases and disorders; Neurological diseases and disorders, and a range of cranial, spinal, sinus, and orthopedic maladies.

The Company competes with Olympus Corporation, Stryker Corporation, Johnson & Johnson, Integra LifeSciences Holdings Corporation, BrainLAB, Inc. and Stryker Corporation.

Physio-Control

The Company develops manufactures markets and services external defibrillators, including manual defibrillator/monitors used by hospitals and emergency response personnel and automated external defibrillators (AEDs) used in commercial and public settings. In addition to the portfolio of external defibrillation and emergency response systems, it offers related data management solutions and support services. Its Physio-Control products are used in the treatment of the condition, including sudden cardiac arrest (SCA), a condition, in which the heartbeat stops suddenly and unexpectedly.

The Company competes with Zoll Medical Corporation, Philips Medical Systems, Cardiac Science, Inc., Zoll Medical Corporation, Philips Medical Systems, Defibtech, LLC and Welch Allyn Inc.