Medtronic Emphasizes International Growth Opportunities
This article was originally published in The Gray Sheet
Medtronic is betting on emerging markets and the “value” market to be its major growth drivers over the next few years.
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The company’s leadership team is “determined to transform Medtronic from being a primarily device provider today into the premier global medical technology solutions partner of tomorrow,” CEO Omar Ishrak said.
The cuts expand on a 2011 restructuring plan, with hopes of reducing operating expenses by up to $375 million at the end of 2013.
The $66 million deal gives Medtronic a significant stake in LifeTech, a Chinese developer of minimally invasive devices, including balloon catheters, delivery systems, occluders and stent graft systems.