Medical Design and Outsourcing

  • Home
  • Medical Device Business
    • Mergers & Acquisitions
    • Financial
    • Regulatory
  • Applications
    • Cardiovascular
    • Devices
    • Imaging
    • Implantables
    • Medical Equipment
    • Orthopedic
    • Surgical
  • Technologies
    • Components
    • Electronics
    • Extrusions
    • Materials
    • Motion Control
    • Prototyping
    • Pumps
    • Tubing
  • Contract Manufacturing
  • Med Tech Resources
    • DeviceTalks Tuesdays
    • Digital Editions
    • eBooks
    • Manufacturer Search
    • Medical Device Handbook
    • MedTech 100 Index
    • Podcasts
    • Print Subscription
    • Suppliers
    • The Big 100
      • Archive – The Big 100 (2018)
    • Webinars / Digital Events
    • Whitepapers
    • Video
  • Leadership
    • Women in Medtech
    • 2020 Winners
    • 2019 Winners

These 10 stories mattered the most for medtech in 2020

December 18, 2020 By Chris Newmarker

2. Medtronic embarks on a major reorganization under its new CEO

Medtronic Geoff Martha

Medtronic CEO Geoff Martha [Image courtesy of Medronic]

Medtronic, the world’s largest medical device company, faced down the pandemic and the resulting recession under its new CEO, Geoff Martha, who assumed the corner office after holding senior- and executive-level roles at the company since 2011.

“The pandemic forced us — in particular with the ventilator work that we were doing — to innovate quickly, because literally lives were on the line and it felt like every minute counted,” Martha said during a recent DeviceTalks Weekly podcast.

Martha found himself slashing through a great deal of corporate bureaucracy to help the ventilator project succeed and decided that the company needed to speed up plans for a major restructuring. Now underway, the restructuring is expected to produce annual savings of $450 million to $475 million by 2023, and Martha has said he’s looking forward to whatever the post-pandemic, new normal brings.

The restructuring includes a new operating model designed to reduce the layers of decision-making, separating into 20 “empowered operating units,” or segments that are given control they didn’t have before.

Martha is also excited about the pipeline of products the company has built in areas as diverse as surgical robotics, leadless pacemakers, renal denervation, neurostimulation and more. He’s said that it is time to play offense and expand market share now that the pipeline is kicking in. – CN

Next>>

Pages: 1 2 3 4 5 6 7 8 9 10 11

Related Articles Read More >

Resonetics to expand manufacturing in Costa Rica
LVAD
Are Black patients not getting LVADs as quickly as white patients?
Viant
Viant expands factory in Costa Rica
Manny Villafana
St. Jude Medical founder and his Medical 21 raise $3M

MEDTECH 100 INDEX

Medtech 100 logo
Market Summary > Current Price
The MedTech 100 is a financial index calculated using the BIG100 companies covered in Medical Design and Outsourcing.

MDO Digital Edition

Digital Edition

Subscribe to Medical Design & Outsourcing. Bookmark, share and interact with the leading medical design engineering magazine today.

DeviceTalks

DeviceTalks is a conversation among medical technology leaders. It's events, podcasts, webinars and one-on-one exchanges of ideas & insights.

DeviceTalks

New MedTech Resource

Medical Tubing

Enewsletter Subscriptions

Tweets by MedTechDaily

MassDevice

Mass Device

The Medical Device Business Journal. MassDevice is the leading medical device news business journal telling the stories of the devices that save lives.

Visit Website
MDO ad
Medical Design and Outsourcing
  • MassDevice
  • DeviceTalks
  • Drug Delivery Business News
  • Drug Discovery & Development
  • Medical Tubing + Extrusion
  • MedTech 100
  • Pharmaceutical Processing World
  • R&D World
  • About Us/Contact
  • Advertising
  • Subscribe to Enewsletter
  • Subscribe to Print Magazine
  • Attend our Monthly Webinars
  • Listen to our Weekly Podcasts
  • Join our Device Talks Tuesdays Discussion

Copyright © 2021 WTWH Media, LLC. All Rights Reserved. Site Map | Privacy Policy | RSS

Search Medical Design & Outsourcing

  • Home
  • Medical Device Business
    • Mergers & Acquisitions
    • Financial
    • Regulatory
  • Applications
    • Cardiovascular
    • Devices
    • Imaging
    • Implantables
    • Medical Equipment
    • Orthopedic
    • Surgical
  • Technologies
    • Components
    • Electronics
    • Extrusions
    • Materials
    • Motion Control
    • Prototyping
    • Pumps
    • Tubing
  • Contract Manufacturing
  • Med Tech Resources
    • DeviceTalks Tuesdays
    • Digital Editions
    • eBooks
    • Manufacturer Search
    • Medical Device Handbook
    • MedTech 100 Index
    • Podcasts
    • Print Subscription
    • Suppliers
    • The Big 100
      • Archive – The Big 100 (2018)
    • Webinars / Digital Events
    • Whitepapers
    • Video
  • Leadership
    • Women in Medtech
    • 2020 Winners
    • 2019 Winners