View the BIG 100 largest medical device companies in the world listings here
Medtronic2022 Rank: 1
2021 Rank: 1
Dublin, Ireland (Operational HQ in Fridley, Minnesota)
2022 Revenues ($USD) : $31,686,000,000
2022 R&D spend : $2,746,000,000
2022 Number of Employees : 95,000
Fiscal Year End : 4/29/2022
Company CEO : Geoff Martha, CEO
But the medtech giant — top of the list among the Big 100 largest medical device companies of 2022 — has suffered a series of setbacks over the past year. There were delays in the company’s pivotal ON MED study of its renal denervation system, supply chain challenges around the rollout of its Hugo surgical robotics system, and regulatory troubles for its Diabetes business.
Analysts have increasingly asked whether Medtronic can execute through an unpredictable macroeconomic environment that includes a strong dollar (which impacts the ability of U.S companies to sell outside the country), inflation, supply chain disruption and more.
Announcing first-quarter earnings in August, Martha insisted that company leadership can get the job done: “The company continues to execute in a challenging environment, delivering organic revenue above our guidance.” –CN