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Medtronic plc is a leading global healthcare technology company headquartered in Dublin, Ireland, serving healthcare systems, physicians, clinicians, and patients in over 150 countries. The company develops and manufactures device-based medical therapies and services, organized into four principal segments: Cardiovascular Portfolio, Neuroscience Portfolio, Medical Surgical Portfolio, and Diabetes Operating Unit . Medtronic's diverse portfolio includes products for cardiac rhythm disorders, neurostimulation therapies, surgical solutions, and diabetes management .
- Cardiovascular Portfolio - Develops products for cardiac rhythm disorders, cardiovascular disease, and heart and vascular-related disorders, including divisions like Cardiac Rhythm & Heart Failure, Structural Heart & Aortic, and Coronary & Peripheral Vascular.
- Neuroscience Portfolio - Focuses on neurostimulation therapies, drug delivery systems for chronic pain, and products for spine and brain conditions, with divisions such as Cranial & Spinal Technologies, Specialty Therapies, and Neuromodulation.
- Medical Surgical Portfolio - Covers products for diseases of the respiratory system, gastrointestinal tract, and other preventable complications, including Surgical & Endoscopy and Acute Care & Monitoring divisions.
- Diabetes Operating Unit - Provides insulin pumps, continuous glucose monitoring systems, and related consumables, reflecting a significant growth in sales.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Geoffrey S. Martha ExecutiveBoard | Chairman and Chief Executive Officer | Board Member at NextEra Energy, Inc.; Member of Business Roundtable, World Economic Forum’s International Business Council, U.S.-China Business Council, AdvaMed, Asia Society, Minnesota Business Partnership. | CEO since April 2020 and Chairman since December 2020. Joined Medtronic in 2011. Previously held leadership roles at GE Healthcare and GE Capital. | View Report → |
Gary Corona Executive | Interim Chief Financial Officer | None. | Interim CFO since August 3, 2024. Previously SVP, Global Financial Planning and Analysis at Medtronic. Spent 26 years at General Mills in various finance roles. | |
Ivan K. Fong Executive | EVP, General Counsel, and Corporate Secretary | None. | Joined Medtronic in February 2022. Previously EVP, Chief Legal and Policy Officer at 3M and General Counsel of the U.S. Department of Homeland Security. | |
Michael Marinaro Executive | EVP and President, Medical Surgical Portfolio | None. | EVP since February 2023. Joined Medtronic in 2000 and has led multiple businesses, including Surgical Robotics and Cardiac Rhythm Management. | |
Thierry Piéton Executive | Chief Financial Officer | None. | Appointed CFO effective March 3, 2025. Previously CFO at Renault Group, where he achieved record operating margins and led portfolio management initiatives. | |
Andrea J. Goldsmith Board | Director | Dean of Engineering at Princeton University; Board Member at Crown Castle International Corp. and Intel Corporation; Member of Technical Advisory Board of Encharge AI. | Director since 2019. Renowned wireless technology expert and member of the National Inventors Hall of Fame. | |
Craig Arnold Board | Lead Independent Director | Chairman and CEO of Eaton Corporation; Member of Business Roundtable, The Business Council, and advisory boards for Salvation Army of Greater Cleveland and United Way of Greater Cleveland. | Director since 2015 and Lead Independent Director since 2022. Extensive leadership experience as CEO of Eaton Corporation. | |
Elizabeth G. Nabel Board | Director | Board Member at Moderna, Inc., Lyell Immunopharma, Inc., and Accolade, Inc.; Senior Advisor at OPKO Health and ModeX Therapeutics; Board Member of Lasker Foundation. | Director since 2014. Former President of Brigham Health and Director of the National Heart, Lung, and Blood Institute. | |
Gregory P. Lewis Board | Director | CFO at Honeywell International Inc.. | Director since June 2023. Extensive financial leadership experience, currently CFO at Honeywell International. | |
Kevin E. Lofton Board | Director | Board Member at Gilead Sciences, Inc. (term ending May 2024); Board Member at Howard University; Chair of Georgia State University Foundation. | Director since 2020. Former CEO of CommonSpirit Health and Catholic Health Initiatives. Extensive healthcare leadership experience. |
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With the impending launch of Simplera and your partnership with Abbott, how does this shift from your traditional integrated model in Diabetes align with your long-term strategy, and how will it affect your internal versus external investment in this area?
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Given your recent strong Q1 performance exceeding guidance expectations, were there any one-off factors that drove this quarter, and how sustainable are these trends into the back half of the year?
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In the structural heart market, are you concerned about potential capacity constraints in the long term, and how do you plan to address any limitations to support the growth of your therapies?
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With the CMS NTAP for Simplicity in the renal denervation market, how do you see this market developing now that reimbursement is getting behind the product, and what challenges do you anticipate in achieving broad coverage and adoption?
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As you invest heavily in new growth areas, how do you balance reinvesting for innovation with maintaining earnings leverage and margins over the next couple of years?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Multiple Companies (Aggregate) | 2024 | Medtronic’s aggregate acquisitions in 2024 involved net asset acquisitions valued at $335 million—including $131 million of goodwill, $150 million of IPR&D, and $29 million of technology-based intangible assets—with $30 million in non‑cash contingent liabilities; the deals aimed to boost its technology portfolio and synergies, though the pro forma impact was not significant. |
Intersect ENT | 2022 | Medtronic acquired Intersect ENT on May 13, 2022, for roughly $1.2 billion (comprising $1.1 billion in cash and $98 million in investments); this acquisition strengthened its Neuroscience segment by adding valuable goodwill and technology-based intangible assets, expanding its ENT procedure-related capabilities. |
Affera, Inc. | 2022 | Medtronic’s acquisition of Affera, Inc. was completed on August 30, 2022, with a transaction value of $904 million (net of cash acquired and including up to $250 million in contingent consideration); the deal bolstered its Cardiovascular segment by incorporating its first cardiac mapping and navigation platform along with advanced cardiac ablation technologies. |
Recent press releases and 8-K filings for MDT.
- FDA approval granted for the new Simplera Sync™ sensor, expanding the CGM options for the MiniMed™ 780G system.
- The sensor features a disposable, all-in-one design with a simple two-step insertion process and requires no fingersticks, enhancing ease of use.
- A limited U.S. launch is planned for fall 2025, while the system currently also supports the Guardian™ 4 sensor.
- Medtronic Plc announced five-year results from the Evolut Low Risk Trial showing comparable rates of all-cause mortality or disabling stroke between the Evolut TAVR system (15.5%) and surgery (16.4%).
- The study also indicated a trend toward lower cardiovascular mortality (7.2% vs. 9.3%) and superior valve performance with larger effective orifice areas and lower mean gradients for TAVR compared to surgery.
- Conducted as a randomized, multicenter international trial in low-risk patients with severe aortic stenosis, the findings reinforce Evolut TAVR as a safe and durable alternative to surgery.
- Medtronic presented the two-year outcomes of the SMART Trial, the largest randomized head-to-head study in small aortic annulus patients comparing Evolut TAVR with SAPIEN TAVR.
- The trial, which predominantly enrolled women (87%), showed that Evolut TAVR achieved significantly lower rates of bioprosthetic valve dysfunction, including 5x less prosthetic valve thrombosis and 9x less hemodynamic structural valve dysfunction compared to SAPIEN TAVR.