DOCSLIB.ORG

Medtronic 2015 Integrated Performance Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Medtronic 2015 Integrated Performance Report FURTHER, TOGETHER 2015 INTEGRATED PERFORMANCE REPORT TABLE OF CEO LETTER …………………………………………………………………………………………………………………………………… 3 CONTENTS COMPANY OVERVIEW ……………………………………………………………………………………………………………………… 5 SUSTAINABiliTY RisK AND OppORTUNITY ……………………………………………………………………………………… 7 VALUE TO SOCIETY ……………………………………………………………………………………………………………………… 10 ACCEss …………………………………………………………………………………………………………………………………… 11 PATIENT SAFETY …………………………………………………………………………………………………………………… 20 FiNANCIAL STRENGTH …………………………………………………………………………………………………………… 25 COMMUNITY INVESTMENTS …………………………………………………………………………………………………… 34 WORKING RESPONSIBLY ……………………………………………………………………………………………………………… 40 GOVERNANCE AND ENGAGEMENT ………………………………………………………………………………………… 41 EMplOYEES …………………………………………………………………………………………………………………………… 49 ENVIRONMENT ……………………………………………………………………………………………………………………… 59 SUPPLY CHAIN ………………………………………………………………………………………………………………………… 65 AWARDS AND RECOGNITION ………………………………………………………………………………………………… 68 FY15 DATA SUMMARY …………………………………………………………………………………………………………………… 69 ABOUT THis REPORT …………………………………………………………………………………………………………………… 74 GlOBAL REPORTING INITIATIVE INDEX ………………………………………………………………………………………… 77 COVER PHOTO: Read Hina’s Story on page 11. MEDTRONIC 2015 INTEGRATED PERFORMANCE REPORT | TABLE OF CONTENTS 2 Since our early days as a company, the Medtronic Mission has remained the same: to alleviate pain, restore health, and extend life for people around the world. We have worked hard to be at the forefront of medical technology innovation, challenging ourselves to develop high-quality products and therapies that positively impact people’s lives. We have accomplished a lot – today more than 62 million people benefit from our technologies each year. This equates to improving the lives of two people every second of every day. We also recognize that we participate in global healthcare systems that face intense clinical and economic challenges. If not properly addressed, these issues can serve to undermine global growth and development and leave millions of people around the world untreated. No single entity in the healthcare system can solve these challenges alone. We’re committed to putting the full power of our technologies, resources, and our people to work with new partners, in new ways, to create a new era in healthcare. That’s a key reason we acquired Covidien — to expand our breadth to treat more people for more diseases, no matter where they are located, more efficiently than ever before. Our future promises even greater social impact. Due to the timing of this acquisition late in our fiscal year, however, the data in this report excludes Covidien’s operations, except where noted. We’re proud of the value we provided in FY2015 and look forward to contributing even more in the future by partnering with others to take healthcare Further, Together. CEO LETTER FY2015 HIGHLIGHTS n Our business achieved solid financial results in FY2015, achieving $20.3 billion in revenue and $2.7 billion net earnings — allowing us to advance our Mission and invest in transforming the industry. n Research is at the heart of innovation. We invested $1.64 billion, or 8.1 percent of total sales, in R&D — including new ways of addressing health problems in emerging markets such as China and India. n Our people are the key to transforming healthcare. We invested more than $47.6 million in employee training and development programs. n To build greater healthcare capacity and access, we invested more than $108.8 million in training 50,000+ medical professionals around the world. n We demonstrated our commitment to patient safety by exceeding regulatory requirements in our quality processes. Now we’re focused on combining the best practices of Covidien with Medtronic into a single system that delivers even greater quality assurance. n We invested in our communities, targeting our philanthropic efforts where they can have the most impact. We donated 1.9 percent of our global pretax profits to charitable causes, and matched the generosity of our employees’ $25.2 million donations with nearly $20 million more to nonprofits of employees’ choosing. n We continued to make good progress toward our ambitious 2020 Environmental Performance Goals, cutting carbon dioxide emissions and water use by 7 percent. Non-regulated waste decreased by 5 percent. n We are also pleased that with Covidien joining the Medtronic family that now two patients per second benefit from Medtronic therapies. This is and has always been one of our most important metrics — how many lives we impact around the world. Our financial health is increasingly linked to our social commitments and environmental performance. We have a unique opportunity to extend our Mission as we integrate Covidien and leverage the leading practices from both companies. By continually challenging ourselves — to advance the limits of technology as well as our thinking — we can lead a transition to value-based healthcare and increase access to care around the world. Omar Ishrak Chairman and Chief Executive Officer MEDTRONIC 2015 INTEGRATED PERFORMANCE REPORT | CEO LETTER 3 FY2015 HIGHLIGHTS Data excludes Covidien except where noted. WORKING RESPONSIBLY BUSINESS GROWTH NON-REGULATED WASTE * $47.6 MILLION INVESTED IN % EMPLOYEE TRAINING DOWN 5 AND DEVELOPMENT PER UNIT OF REVENUE FROM 2013 CO2 EMISSIONS AND ENERGY USE 29,410 * % EMPLOYEE $20.3 B DOWN 7 HOURS IN REVENUE PER UNIT OF REVENUE VOLUNTEERED THROUGH FROM 2013 PROJECT 6 * FY2015 based on Medtronic fiscal year as reported and reflects the one-quarter contribution of the Covidien transaction, which closed on January 26, 2015. VALUE TO SOCIETY 8.1% $89.7 OF TOTAL SALES MILLION INVESTED IN RESEARCH IN PHILANTHROPIC GIVING AND DEVELOPMENT MEDTRONIC 2015 INTEGRATED PERFORMANCE REPORT | FY2015 FiNANciAL HigHLigHTS 4 TOTAL SALES AND NET EARNINGS COmpANY ($ millions)* OVERVIEW Total Sales Net Earnings Alleviate Pain. Restore Health. Extend Life. This is *FY2015 based on Medtronic fiscal year as reported and reflects the one-quarter our Mission at Medtronic. It’s contribution of the Covidien $15,508 $3,096 $16,184 $3,617 $16,590 $3,467 $17,005 $3,065 $20,261 $2,675 the reason we’ve developed transaction which closed on January 26, 2015. FY2011 FY2012 FY2013 FY2014 FY2015* an unprecedented breadth and depth of innovative therapies for more than 60 But we must do more. And we need to addressing those universal needs years. And it’s the reason ORGANIZATIONAL do it in partnership with others across (see Financial Strength for more PROFILE millions of lives are improved the industry to address these three information). by a Medtronic product or universal needs: The combination of Medtronic Our acquisition of Covidien on January and Covidien has created a therapy each year. n Improve outcomes for better care 26, 2015 marks a significant milestone, medical technology and services n Increase access to therapies so making us uniquely positioned to company with a comprehensive more people who can benefit from alleviate pain, restore health, and product portfolio, a diversified them are treated extend life for more patients around growth profile, and broad n Improve healthcare delivery to the world. Together as one company, geographic reach. Our four increase efficiency and reduce we remain committed to improving groups — Cardiac and Vascular, overall costs the lives of patients through ground- Minimally Invasive Therapies, breaking medical technologies and Restorative Therapies, and Our business strategy consist of innovative healthcare services and Diabetes — are committed to three strategic priorities — therapy solutions. Solutions that reach more improving the lives of people innovation, economic value creation, patients in more markets while through a wide range of medical and globalization — aimed at delivering value for our customers. technologies, services, and solutions. KEY FACTS ABOUT THE NEW MEDTRONic PLC Cardiac and Vascular Group * Number of employees 85,000+ Our Cardiac and Vascular Group Number of countries we operate in Approximately 160 (CVG) brings all Medtronic cardiac Research and development spend $1,640 m and vascular businesses together into one cross-functional, Number of patents 53,000+ collaborative operating unit. * With the acquisition of Covidien, we had 85,000 full-time equivalent employees at fiscal year-end. Not including Covidien employees, CVG provides innovative and Medtronic employed 46,638 people at the end of FY2015 (excluding temporary or contingent workers). MEDTRONIC 2015 INTEGRATED PERFORMANCE REPORT | COMPANY OVERVIEW 5 pelvic region, and kidneys, as well as SCOPE OF THIS FY2015 TOTAL SALES BY BUSINESS UNIT obesity and preventable complications. ($ billions)* REPORT Total Sales $20,261 n Surgical Solutions This report covers Medtronic n Patient Monitoring and Recovery operations for the fiscal year Diabetes ended April 24, 2015 (FY2015). On Group Restorative Therapies Group January 26, 2015, we completed the acquisition of Covidien — The Restorative Therapies Group (RTG) $1,762 now operating primarily as the provides innovative, life-changing Minimally Invasive Therapies restorative therapies and services to Group, with its Peripheral meet the needs of millions of people Vascular business now a part of worldwide who suffer from a wide range CVG and Neurovascular business of chronic medical conditions. now a part of RTG. Due to the Restorative Therapies Cardiac and Vascular n timing of this acquisition late in Group Group Spine FY2015, the data in this report n Neuromodulation $6,751
Load more

Recommended publications
  • (2) January 2020 CVJ.Pmd
    DOI: https://doi.org/10.3329/cardio.v12i2.47994 Special Article Clarence Walton Lillehei: The Pioneer Open Heart Surgeon Md Anisuzzaman, Nazmul Hosain Department of Cardiac Surgery, Chattogram Medical College Key Words : (Cardiovasc. j. 2020; 12(2): 145-148) Walton Lillehei, Open heart surgery. Introduction: Wangensteen provided a creative environment that Heart as an organ was always a difficult territory produced many brilliant surgeons, and he took a for the surgeons. Famous surgeon Stephen Paget special interest in young Lillehei. in 1895 wrote, “Surgery of the heart has probably In 1949, Dr. Lillehei was appointed a fulltime reached the limit set by the nature, no new instructor of surgery at the University of methods, and no new discovery can overcome the Minnesota Medical School. He began to work his natural difficulties that attend a wound of the way up the academic ladder towards a clinical heart”. But surgeons like Axel Cappelen of Norway professorship. The following year, however fate in 1895, Ludwig Rehn of Germany in 1896 did the dealt him a cruel blow: he was diagnosed with job very well by repairing stab injuries of the heart. lymphosarcoma of the parotid gland and was given But these were rare achievements. Virtually there at most, a 10% chance of surviving for 5 years. was no safe surgical approach or method to deal The day after he finished his senior residency, the heart well before the 1950s. C W Lillehei and Lillehei underwent extensive head and neck his colleagues brought about these changes to surgery at the hands of Dr. Wangensteen and Dr.
    [Show full text]
  • EIR) Expertise Guide
    v MEDICAL INDUSTRY LEADERSHIP INSTITUTE 2019–2020 Executive in Residence (EIR) Expertise Guide John J. Alexander, ChEng, MDA [email protected] President, Business Development Advisors, Inc.; Chairman, Twin Cities Angels Funds Roles: Corporate Development, CEO, Management Team Coach Background: St. Jude Medical, Baxter Healthcare, W.R. Grace, GE, Alcoa. Private companies—Wide Range Expertise: (Markets) Medical Technology: devices, diagnostics (Functions) Corporate Development: M&A, strategic alliances, divestitures, licensing, corporate ventures, internal startups starting, building emerging technology businesses and turning-around established businesses; (Functions) venture capital & angel capital, PIPE, venture debt, debt Susan Alpert, PhD, MD [email protected] Principal, SFA Consulting Roles: Regulatory affairs, device evaluation, pediatrician with specialty in infectious disease Background: Medtronic, C.R. Bard, FDA Expertise: Regulatory affairs, FDA, clinical trials, medical devices, business strategy Daniel L. Cosentino, MBA [email protected] CEO, ElectroSea ROLES: CEO, Entrepreneur, Board Advisor, Investor BACKGROUND: Founder & CEO, Cardiocom; VP/GM, Medtronic; Board Advisor, Minnetronix Neuro EXPERTISE: Digital health, medical devices, entrepreneurship, new product development, general management Michael Finch, PhD [email protected] Research Manager, Children’s Hospital MN Roles: Faculty, instructor, research director Background: Carlson School of Management, Children’s Hospital, School of Public Health, UMN, UnitedHealth Group Expertise: Cost, quality and financing of health care in public and private market, research methods and evaluation, valuation of medical innovations, hospital safety, role of physician communication in health care Paul J. Gam, MBA, CGMA, CPA (Inactive) [email protected] Founder and CEO, Zurich Medical Roles: Various management and advisory roles Background: Founder and CEO, Zurich Medical; Board Member, Blue Cross Blue Shield of MN; Partner, Grace Associates; VP International Development, St.
    [Show full text]
  • Executive Compensation 14 ITEM 12
    Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K/A (Amendment No. 1) ☑ Annual Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the Fiscal Year Ended December 31, 2016 OR ☐ Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to . Commission file number 333-199861 MYLAN N.V. (Exact name of registrant as specified in its charter) The Netherlands 98-1189497 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) Building 4, Trident Place, Mosquito Way, Hatfield, Hertfordshire, AL10 9UL, England (Address of principal executive offices) +44 (0) 1707 853 000 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: Title of Each Class: Name of Each Exchange on Which Registered: Ordinary shares, nominal value €0.01 The NASDAQ Stock Market Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☑ No ☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☑ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
    [Show full text]
  • Final Programme CONTENT
    48th EDTNA/ERCA International Conference September 14th-17th, 2019 Prague, Czech Republic Conference Theme New Pathways in the Renal Setting-Caring Together by Integrating Modern Technology based on Knowledge & Education Final Programme CONTENT Welcome Message from the President 3 Acknowledgement – Corporate Members 4 Acknowledgement – Conference Support 5 EDTNA/ERCA Booth 6 Conference Accreditation 6 The Conference Application – Instructions and Logistics 7 Conference Venue – Floor plans 8 Programme at a Glance 9 Scientific Programme Highlights 11 Scientific Programme 14 List of E-Posters 24 The Exhibition Floor Plan 30 The Exhibitors 31 Practical Conference Information 36 Opening Hours Summary 38 Good to know about Prague 38 Conference Contacts 39 2 WELCOME MESSAGE FROM THE PRESIDENT Dear Colleagues, We are very happy to welcome you to Prague for the 48th EDTNA/ERCA Conference. Last time the Conference was held in Prague was in 2008, now, 11 years later we are back in Prague. The Scientific Programme is well prepared and there will be several Workshops, Educational Sessions and Poster sessions. New this year are the Courses which will be interactive sessions allowing everybody to share their expertise. We are, as an Association, in the forefront of Online Communication and it has been a focus for some years and will continue to be one of our focuses for the coming years. Take the opportunity to download the Conference App. It works both for iPhones and Androids. We should never forget that face to face meetings gives us so much more than just to be in a Video call. It has an important role of educating, exchanging information and experience, utilizing the expertise of all of us i.e.
    [Show full text]
  • Connectivity. Access to the Data You Need
    CONNECTIVITY. ACCESS TO THE DATA YOU NEED. Integrate across systems with INVOS™5100C cerebral/ somatic oximetry and BIS™ brain monitoring system. We understand your need for easy access to critical patient Connect to patient monitoring systems for better information — and that requires connectivity to standardized visibility of comprehensive patient data electronic medical record (EMR) systems. Our connectivity ™ ™ ™ solutions integrate vital patient data from INVOS cerebral/ INVOS and BIS monitoring systems connect to a variety ™ of multi-parameter monitors, such as Philips patient somatic oximetry and BIS brain monitoring systems into a ™* ™* variety of clinical information and EMR systems. monitoring systems, using Philips VueLink or IntelliBridge interface solutions. Connect to EMR systems for integrated patient data Additional patient monitoring systems compatible with ™ ™ INVOS™ and BIS™ patient monitoring systems are compatible INVOS and/or BIS monitoring systems include: with most EMR and third-party middleware integration systems INVOS™ cerebral/somatic oximetry system in use today, such as: ∙ Philips EMR ∙ Drägerwerk AG & Co. KGaA ∙ Olympus ∙ Cerner ∙ Nihon Kohden ∙ Surgical Information Systems ∙ Epic ∙ Mindray ∙ SAFERsleep ∙ McKesson ∙ Fukuda Denshi ∙ Siemens ∙ AGFR Health Care ∙ Hewlett Packard Theronyz ∙ ORBIS ∙ ™* ∙ Agilent ∙ Philips VISICU ∙ Allscripts ™ ™* BIS brain monitoring system Philips Emergin ∙ Daintel ∙ Middleware ∙ Philips ∙ DocuSys ∙ Nanthealth (iSirona) ∙ Drägerwerk AG & Co. KGaA ∙ Emergisoft ∙ Nihon Kohden General Electric ∙ Capsule Tech ∙ ∙ GE Healthcare ∙ Meditech ∙ Fukuda Denshi Connect to information management systems for Connect to VGA monitors for simultaneous viewing comprehensive clinical records A VGA port on the INVOS™ monitoring system allows the Clinical data management systems such as Anesthesia INVOS™ monitor screen to be displayed on any external Information Management Systems (AIMS), Clinical VGA monitor.
    [Show full text]
  • ASN Kidney Week 2020 Reimagined: Disclosures Page 1
    10/14/2020 ASN Kidney Week 2020 Reimagined: Disclosures Page 1 Last Name First Name Nothing Employer Consultancy Ownership Interest Research Funding Honoraria Patents or Inventions Scientific Advisor or Membership Speakers Bureau Other Interests or Relationships to Disclose Abdel-Kader Khaled Vanderbilt University Medical Center BMC Nephrology; CJASN NKF Education committee; NIDDK Health IT work group Abudayyeh Ala University of Texas MD Anderson Cancer Center Adler Sharon Retrophin; Bristol Myers Squibb; Bayer; Retrophin; Bayer; ChemoCentryx; Omeros; Zyversa Bayer; Zyversa; Retrophin; AstraZeneca; Morphosys Retrophin; Bayer Pharmaceuticals; Zyversa; KDIGO; KRN; NephCure Kidney International AstraZeneca; ChemoCentryx; Omeros; Zyversa; Therapeutics; Calliditas; Morphosys AstraZeneca; Morphosys Foundation; Karger Publishers Morphosys; Karger Afkarian Maryam University of California, Davis Afrouzian Marjan University of Texas Medical Branch Alexion Pharmaceuticals; Banff Foundation Afshinnia Farsad Agarwal Anupam University of Alabama at Birmingham Dynamed - review content related to AKI for Goldilocks Therapeutics Genzyme/Sanofi Fabry Fellowship Award Univ Southern California, Vanderbilt, Emory, Akebia Editorial Board of AJP Renal, Kidney Int and My wife, Lisa Curtis, will be President-elect Dynamed and review updated materials prepared by Lab Investigation; invited to serve on for Women in Nephrology (2018-2019). Dynamed editorial team for AKI topics. Akebia - Advisory board of Goldilocks Therapeutics, Expert Panel to review new therapeutics
    [Show full text]
  • 1 in the United States District Court for the Eastern
    Case 2:08-cv-00260-DF Document 1 Filed 06/30/08 Page 1 of 7 IN THE UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF TEXAS MARSHALL DIVISION CARDIO ACCESS LLC, § § Plaintiff, § § v. § CIVIL ACTION NO. 2:08-cv-260 § BOSTON SCIENTIFIC CORPORATION; § JURY TRIAL DEMANDED BOSTON SCIENTIFIC SCIMED, INC.; § CORDIS CORPORATION; § ETHICON, INC.; JOHNSON & JOHNSON; § MEDTRONIC, INC.; MEDTRONIC USA, § INC.; MEDTRONIC VASCULAR, INC.; § KYPHON, INC.; EDWARDS § LIFESCIENCES CORPORATION; and § EDWARDS LIFESCIENCES LLC, § § Defendants. § PLAINTIFF’S ORIGINAL COMPLAINT Plaintiff CARDIO ACCESS LLC files this Original Complaint against the above-named Defendants, alleging as follows: I. THE PARTIES 1. Plaintiff CARDIO ACCESS LLC (“Cardio Access”) is a Texas limited liability company. Cardio Access has its principal place of business in Newport Beach, California and maintains a place of business in Frisco, Texas. 2. Defendant BOSTON SCIENTIFIC CORPORATION (“BSC”) is a Delaware corporation with its principal place of business at One Boston Scientific Place, Natick, Massachusetts 01760. BSC can be served with process through its registered agent, Corporation Service Company DBA, 701 Brazos Street, Suite 1050, Austin, Texas 78701. 1 Case 2:08-cv-00260-DF Document 1 Filed 06/30/08 Page 2 of 7 3. Defendant BOSTON SCIENTIFIC SCIMED, INC. (“Scimed”) is a Minnesota corporation with its principal place of business at 1 Scimed Place, Maple Grove, Massachusetts 55311. Scimed can be served with process through its registered agent, Corporation Service Company, 380 Jackson Street, Suite 700, St. Paul, Minnesota 55101. Scimed is a wholly-owned subsidiary of Defendant BSC. 4. Defendant CORDIS CORPORATION (“Cordis”) is a Florida corporation with principal places of business at 14201 Northwest 60th Avenue, Miami Lakes, Florida 33014 and 33 Technology Drive, Warren, New Jersey 07059.
    [Show full text]
  • Medtech and the Internet of Medical Things How Connected Medical Devices Are Transforming Health Care July 2018 Contents
    Medtech and the Internet of Medical Things How connected medical devices are transforming health care July 2018 Contents Foreword 01 Executive summary 02 Part 1. Connectivity is transforming the medtech industry 08 Part 2. Challenges and opportunities for medtech 16 Part 3. Connected medical devices are transforming care 31 Part 4. The future for medtech and the IoMT 40 Appendix: Nomenclature and medical device classifications used in the report 47 Endnotes 48 Contacts 52 Deloitte Centre for Health Solutions The Deloitte Centre for Health Solutions is the research arm of Deloitte LLP’s Life Sciences and Health Care practices. Our goal is to identify emerging trends, challenges, opportunities and examples of good practice, based on primary and secondary research and rigorous analysis. The UK Centre’s team of researchers seeks to be a trusted source of relevant, timely and reliable insights that encourage collaboration across the health value chain, connecting the public and private sectors, health providers and purchasers, patients and suppliers. Our aim is to bring you unique perspectives to support you in the role you play in driving better health outcomes, sustaining a strong health economy and enhancing the reputation of our industry. In this publication, references to Deloitte are references to Deloitte LLP, the UK affiliate of Deloitte NWE LLP, a member firm of Deloitte Touche Tohmatsu Limited. Medtech and the Internet of Medical Things | How connected medical devices are transforming health care Foreword Welcome to the Deloitte Centre for Health Solutions’ report Medtech and the Internet of Medical Things: How connected medical devices are transforming health care.
    [Show full text]
  • The Top 10 Medtech States
    U.S. map image from Flickr The Top 10 Medtech States Brian Buntz and We’ve all heard the stereotypes: California is a medtech innovation hotbed. Chris Newmarker Massachusetts has cutting-edge research and Yankee ingenuity. And Minnesotans wake up earlier and work longer hours than everyone. A substantial proportion of While the rankings for the top five medical device companies are fairly the medical device industry is straightforward, there is no single state that can confidently claim to be the clustered in a handful of best spot for all medical device firms. Orthopedic firms, for instance, will find states, although the number many advantages in Indiana while digital health companies would likely of U.S. medtech hubs is growing. fare better in a state like California or Massachusetts. In the following rankings, we take a look at the most recent data available, We ranked the states based weighing everything from business friendliness to overall medical device on medical device employment in each state. Interestingly, the top three states score poorly in employment, patents, NIH funding, VC medical device terms of business environment but score better than all of the other states on funding, and business the list in nearly every other category. friendliness. Read on to discover major data for 10 top medical device states in the United States. 1. California Sure, California has its problems. peripheral equipment Important Statistics: But the state is still unparalleled manufacturing, which employed when it comes to sheer size, 340,000, according to PwC. Medical Device Manufacturing Employment, 2013: boasting more medical device Orange County has long been one 63,307 companies and workers—by far— Medical Device Patents, 2009–2013: of the biggest medical device 10,061 than any other.
    [Show full text]
  • Medical Devices 2030 Making a Power Play to Avoid the Commodity Trap Thriving on Disruption Series
    Medical devices 2030 Making a power play to avoid the commodity trap Thriving on disruption series While the outlook for medical device companies appears positive, unsustainable healthcare costs and new competitive forces threaten to alter the future industry landscape. If today’s manufacturers fail to stake their claim in the evolving value chain, they risk being caught in the middle and becoming commoditized. Staying ahead means offering value beyond the device and solving healthcare’s problems – rather than contributing to them. Roger van den Heuvel Chris Stirling KPMG in the US KPMG in the UK Global Strategy Group Anuj Kapadia Jia Zhou KPMG International KPMG in the US KPMG in China Medical devices in 2030 – being part of the solution Reinvent, reposition, reconfigure! The days of simply manufacturing a device, and – new entrants, including competitors from unrelated selling it to healthcare providers via distributors, have industries long vanished. Value is the new byword for success, – new technologies, as technological innovation will prevention the preferred clinical outcome, and continue to outpace clinical innovation intelligence the new competitive advantage. In this paper we discuss the pathway to success in 2030 for medical – new markets, as developing countries continue their device companies, following a three-pronged strategy: high growth trajectories. Reinvent Reconfigure Medical device manufacturers should take a The traditional medical device value chain closer look at their existing organizations and will rapidly evolve, and by 2030 companies reinvent their traditional business and operating models will take on significantly different roles. Following their to adapt to the future, by: reinvention and repositioning, medical device companies – integrating intelligence into their portfolios and offerings, will need to reconfigure their respective value chains to positively influence the care journey and connect and define their place therein.
    [Show full text]
  • Tech Tips Cardiac Devices Updated Labeling for 3T
    TECH TIPS CARDIAC DEVICES UPDATED LABELING FOR 3T Siemens Specific B1+RMS as a Condition of Use Because B1+RMS is now recommended as a supplemental How one modifies scan parameters to affect the B1+RMS metric to SAR, Medtronic has begun to have device may vary slightly between MR system brands based on labeling approved with B1+RMS limits. available options. However, in general, whatever you do to reduce SAR on your system will likely reduce the For a full list of devices and leads approved for the MRI B1+RMS. If your system displays B1+RMS, you will find it in the environment, refer to our MR-conditional Cardiac same area in which you find SAR. Device Summary Chart. Siemens 3T MR Systems ™ SureScan cardiac device 3T labeling is a little different On the Siemens system, B1+RMS is displayed on the than 1.5T labeling in that it uses B1+RMS rather than prediction tab in the SAR information dialog box SAR when landmarking/centering below C7. When (Figure 1). The yellow box in Figure 1 displays the B1+RMS scanning these devices at 1.5 T, SAR must be limited as a percentage of an arbitrary maximum B1+RMS, defined to the Normal Operating Mode. It is important to such that scanner performance will not be limited due remember that the B1+RMS limit applies to 3T ONLY. to B1+RMS. This percentage of limit does not correspond When utilizing B1+RMS as a condition of use at 3T, one can to the B1+RMS limit per the Medtronic labeling.
    [Show full text]
  • Guidance for Adjusting MRI Scan Sequence SAR and B1+Rms Values
    Guidance for Adjusting MRI scan Sequence SAR and B1+rms Values Note to MRI equipment operators: Carefully review the MRI Guidelines for Medtronic Deep Brain Stimulation Systems before attempting to scan any patient with an implanted Medtronic Deep Brain Stimulation (DBS) system. Go to www.medtronic.com/mri or contact Medtronic at 1-800-707-0933 for a copy of the guidelines. Also, carefully review the MRI scanner labeling before proceeding with the scan. This document is intended to provide general guidance on how to adjust MRI scan protocols in accordance with the Specific Absorption Rate (SAR) and B1+rms limits identified in the MRI Guidelines for Medtronic Deep Brain Stimulation Systems. The scan protocol adjustments described in this document should only be used by qualified MRI scanner operators. The scanner operator and/or radiologist are responsible for ensuring compliance with the MRI Guidelines for Medtronic Deep Brain Stimulation Systems. The SAR and B1+rms reduction strategies described in this document are based on publicly available MRI scanner information collected in 2015. Medtronic has verified the accuracy of the information for the specific scanner models summarized in this document but does not guarantee the output of any MRI scanner. The third party scanner information and technical details contained in this document are subject to change and Medtronic cannot guarantee their accuracy at the time this document is used. In addition, scanners of different models or manufacturers than those described below may have different scan setting options than described here. Introduction Medtronic has labeling for specific DBS systems that allow head scans with a transmit/receive (T/R) head coil and a maximum SAR of 0.1W/kg.
    [Show full text]