Medtronic, Inc. (NYSE: MDT), based in Minneapolis, Minnesota, is the world's largest medical technology company. Listed among Fortune 500 companies, Medtronic is a publicly traded company and is listed on the New York Stock Exchange under the symbol MDT. The company was founded in 1949 by Earl Bakken and Palmer Hermundslie and is credited with manufacturing the first wearable artificial pacemakers. However, they started off with much more modest intentions, acting as a repair company, servicing medical equipment in local hospitals. Medtronic's main competitors for cardiac devices are Boston Scientific and St. Jude Medical.
Medtronic followed a path familiar to technology historians, starting in a garage in northeast Minneapolis. The company expanded through the 1950s, mostly selling equipment built by other companies, but some custom hardware was also developed. The employees eventually came to know C. Walton Lillehei, a heart surgeon who was then at the University of Minnesota. Lillehei was frustrated with the pacemakers of the day, which relied on wall current to operate. This was extremely troublesome because power outages would cause patients to die.
Bakken built a small transistorized pacemaker that could be strapped to the body and powered by batteries. Work into this new field continued, producing an implantable pacemaker in 1960.
The company remains very focused on the mission originally written by co-founder Earl Bakken in the early-1960s. The first paragraph of the 6 paragraph mission statement reads:
"To contribute to human welfare by application of biomedical engineering in the research, design, manufacture, and sale of instruments or appliances that alleviate pain, restore health, and extend life."
Medtronic makes a wide array of implantable electronic devices, from the relatively common implantable cardioverter-defibrillator or ICD, to devices for managing urinary incontinence and obesity to name just a few.
Medtronic Locations As a global leader in medical technology, we serve patients and partner with medical professionals in 120 countries. Below are our main regional offices; key manufacturing, service, and research and development facilities; and Bakken Education Centers for physician training.
World Headquarters 710 Medtronic Parkway Minneapolis, MN 55432-5604 Phone: (763) 514-4000 Fax: (763) 514-4879 Mail Stop: L100
Europe, Middle East, Africa and India Medtronic International Trading Sàrl Route du Molliau 31 Case Postale CH-1131 Tolochenaz Switzerland Phone: (41 21) 802 7000 Fax: (41 21) 802 7900
Asia-Pacific Medtronic International, Ltd. Suite 1602 16/F. Manulife Plaza The Lee Gardens, 33 Hysan Avenue Causeway Bay Hong Kong Phone: (852) 2891-4456 Fax: (852) 2591-0313
Japan Comodio Shiodome 5F 2-14-1 Higashi-Shimbashi, Minato-ku Tokyo 105-0021 Japan Phone: (81) 3-6430-2011
Australia Medtronic Australasia Pty. Ltd. 97 Waterloo Road North Ryde NSW 2113 PO Box 945 North Ryde NSW 1670 Australia Phone: (+ 61) 2 9857 9000 Fax: (+ 61) 2 9878 5100
Canada Medtronic of Canada Ltd. 6733 Kitimat Road Mississauga, Ontario L5N 1W3 Canada Phone: (905) 826-6020 Fax: (905) 826-6620 Toll-free: 1-800-268-5346
Latin America Medtronic, USA, Inc. Latin American Operations 3750 NW 87 Avenue Suite 700 Miami, Florida 33178 Phone: (305) 500-9328 Fax: (786) 709-4244