dical specialists who use and/or prescribe the company’s Diabetes products are endocrinologists, diabetologists, and internists. Competition: The company’s primary competitors in the Diabetes segment are Johnson & Johnson; DexCom, Inc.; Insulet Corporation; F. Hoffmann-La Roche Ltd; and Tandem Diabetes Care, Inc. Customers The company’s primary customers include hospitals, clinics, third-party health care providers, distributors, and other institutions, including governmental health care programs and group purchasing organizations. Markets and Distribution Methods The company sells majority of its medical devices through direct sales representatives in the U.S. and a combination of direct sales representatives and independent distributors in markets outside the U.S. The three primary markets for its medical devices are the U.S., Western Europe, and Japan. Strategy The company’s primary strategies include delivering strong launch cadence of meaningful therapies and procedures; addressing the inequity in health care access globally, primarily in emerging markets; and becoming a leader in value-based health care by offering new services and solutions to improve outcomes, lower costs by reducing hospitalizations, improve remote clinical management, and increase patient engagement. Its strategy to provide a range of therapies to restore patients to fuller, healthier lives requires various technologies, products, and capabilities. Research and Development During the year ended April 25, 2014, the company spent $1.477 billion on research and development. Patents The company has filed and obtained various patents in the U.S. and internationally, and regularly file patent applications worldwide in its continuing effort to establish and protect its proprietary technology. Seasonality Various medical procedures incorporating the company’s products is lower during summer months, due to summer vacation schedules in the northern hemisphere, primarily in European countries. Government Regulation The company’s medical devices are subject to regulation by various government agencies, including the U.S. FDA and similar agencies outside the U.S. It is also subject to periodic inspection by the U.S. FDA for compliance with the U.S. FDA’s quality system regulations, which govern the methods used in, and the facilities and controls used for, the design, manufacture, packaging, and servicing of all finished medical devices intended for human use. In addition, the U.S. FDA and other U.S. regulatory bodies (including the Federal Trade Commission, the Office of the Inspector General of the Department of Health and Human Services, the Department of Justice, and various state Attorneys General) monitor the manner in which the company promotes and advertises its products. The delivery of the company’s devices is subject to regulation by the U.S. Department of Health and Human Services and comparable state and non-U.S. agencies responsible for reimbursement and regulation of health care items and services. History Medtronic, Inc. was founded in 1949. The company was incorporated as a Minnesota corporation in 1957.
medtronic inc (MDT:New York)
710 Medtronic Parkway
Minneapolis, MN 55432
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