Medical Design Briefs - January 2022 - 8

Inside the OEM
the company's goals and objectives in its
patient management business. " When it is
safe to do so, we make it a priority to get our
patient management employees to our customer
sites to get feedback on our products
to ensure that they are working as designed
and meeting the needs of physicians working
with patients every day, " he said.
Strategies for Innovation
Driving leverage and operating margin
expansion are both key elements in translating
Medtronic's long-term growth objective
of 5 percent plus in the top line into 8 percent
plus on the bottom line, Martha said.
" So, as we drive margin expansion, we expect
to get back to pre-COVID levels, and then
continue to drive further improvement in
our margins. And we can do this simultaneously
with
investing in innovation, "
Martha.
The MyCareLink Heart app automatically sends
heart device information to a patient's clinic on
a scheduled basis or anytime the doctor
requests device information from the patient.
(Credit: Medtronic)
In order to sustain growth, however,
Medtronic also implements some unique
strategies to set itself apart as a leader in supporting
patients and their care teams.
According to Meissner, Medtronic is the only
company whose entire portfolio of cardiac
implantable electronic devices - pacemakers,
ICDs, CRTs, and insertable cardiac monitors
(ICMs) - are compatible with a smartphone
app.
" That's a major
step in supporting our
patients because we are able to provide
patients and their care teams with the tools
they need to monitor their device remotely, no
matter what device the patient has, " he said.
Remote monitoring with the latest smartphone-connected
Medtronic cardiac devices
allows physicians to bring care to the patient
instead of always requiring the patient to go
to the clinic or hospital. And even in nonemergency
situations, transmitting device
information to the physician can lead to more
timely adjustments to the patient's care plan.
" Patients are at the heart of all we do, and
we are always working from that mindset. As a
remote monitoring business, we've had to
look at 1) what patients need and want, and
2) how clinicians and care teams are supported
and give them the tools they need to optimally
care for their patients with devices, "
Martha said.
Meissner noted that collaboration with
physicians who use their products is vital to
8
Cov
Meissner said it has been critical for
Medtronic to continue to be nimble and
adaptable, even in the face of great challenges,
like the pandemic. Through it all, though, he
emphasizes that the company has kept patients
at the forefront of all that they do.
" These two aspects have helped us excel
throughout our history, " Meissner said. " We
know that the world is going to keep changing.
Our patients and their preferences will
said
change. Our world and technology will
change by leaps and bounds. We've seen it
happen just over the last year and a half, so
there is no question the future will be equally
as full of change. "
In order to innovate and evolve in remote
monitoring, he said, " We must continue to
adapt - not just in the face of necessity, but
constant adaptation based on key insights
and learnings that we gather from the
patients and physicians who use our devices.
Their experiences and feedback provide vital
insights for us to then continuously examine
our products and iterate as necessary. We
strive to remember the 'why' of what we do,
and it is at the core of our mission to help
patients live better lives. "
Trends to Follow
With more than $25 billion in R&D investments,
Medtronic is innovating across its
portfolio to create patient-centered products
by developing a robust pipeline of disruptive
technologies as well as growing its footprint
in emerging markets.
" In 2017, when we could monitor patients'
pacemakers via smartphone instead of a bedside
monitor, that was a major milestone, " said
Meissner. " Recent data shows that 25 percent of
patients use their smartphones and a
Medtronic app to monitor their heart, and havQ2
FY 2022
TOTAL REVENUE*
$7.847 billion
GROSS PROFIT*
$5.350 billion
ANNUAL
TOTAL REVENUE*
$30.117 billion
GROSS PROFIT*
$19.634 billion
*as of April 2021
*as of October 2021
CARDIAC RHYTHM
Q2 FY 2022
TOTAL REVENUE
$1.471 billion
Geoff Martha,
Chairman and Chief
Executive Officer,
Medtronic
" Our second-quarter results reflect
focused execution of our strategy and
the strong underlying health of the
business, despite the market impact
of the pandemic resurgence and
healthcare system staffing challenges
on medical procedure volumes, particularly in the
U.S., which affected our quarterly revenue growth. "
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Medical Design Briefs - January 2022

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