Medtronic Plc - Enterprise Tech Ecosystem Series

Medtronic Plc - Enterprise Tech Ecosystem Series

Summary

Medtronic Plc (Medtronic), founded in 1949, is a medical technology, solutions, and services company which designs, develops, manufactures, and markets a wide range of medical devices and solutions for the treatment of heart failure; heart valve disorders; diseases of the coronary artery; aortic; peripheral vascular; venous, renal, and neurological diseases; spine and musculoskeletal disorders; and diseases of the ear, nose, and throat. It also provides biologic solutions for the orthopedic and dental markets. In the US, the company sells its products through a direct salesforce, and in other countries, through direct sales representatives and independent distributors. It serves hospitals, third-party healthcare providers, clinics, and institutions including governmental health care programs, distributors, and group purchasing organizations in Asia-Pacific, Europe, the Americas, the Middle East, and Africa.

Medtronic MedTech Innovation Accelerator is a new accelerator and incubator program in Minhang District, Shanghai, China to provide support to medical technology startups in the country and worldwide and will help fulfill unmet medical and clinical needs in China.

Medtronic announced opening of two RandD centers in Israel (Yokneam and Jerusalem) in collaboration with Israel Innovation Authority, which will provide a $14 million grant distributed over three years to the company. As per the agreement, Medtronic would employ 100 employees in these RandD centers.

This report provides insight into Medtronic's fintech activities, including its digital transformation strategies, its innovation programs, its technology initiatives, its estimated ICT budget, and its major ICT contracts.

Scope

• Medtronic is tapping the power of data and analytics to understand and analyze huge volumes of patient data.

The company designed Vital Sync, a platform that provides clinical teams access to actionable patient data, helping them make informed clinical decisions.
• Medtronic has signed strategic partnerships with many technology companies over the years, including IBM, Cosmo Pharmaceuticals, Apple, and Viz.ai for developing or gaining access to advanced technologies such as AI, data, and analytics.
• Medtronic developed a range of IoT-enabled devices that help healthcare providers deliver personalized care coordination.
• Medtronic is employing AI to enhance the quality of patient care through better diagnosis of underlying health concerns.
• Medtronic appointed four new executives to lead innovation in Product and Solutions, Strategy and Business development and Cranial and Spinal Technologies.

• Gain insights into Medtronic's tech operations.
• Gain insights into its tech strategies and innovation initiatives.
• Gain insights into its technology themes under focus.
• Gain insights into various product launches, partnerships, investments and acquisition strategies.