New Structure Uniquely Positions Medtronic to Maintain Focus on Clinicians While Addressing the Needs of Cardiac and Vascular-focused Hospital Administrators
MINNEAPOLIS--(BUSINESS WIRE)-- Responding to the challenges hospitals face in the changing healthcare environment, as well as the increasing importance of the hospital administrator as a decision maker in device selection, Medtronic, Inc. (NYSE:MDT) today announced it will combine its U.S. Cardiac and Vascular Group sales functions into a single, unified cross-divisional sales organization effective at the start of Medtronic’s new fiscal year, May 1, 2011. David Roberts, formerly vice president of sales for the Cardiac Rhythm Disease Management business at Medtronic, assumes the leadership of this new 2,700 person organization as the national vice president, Cardiac and Vascular Group Sales.
Unique in the medical device industry, the Cardiac and Vascular Group of businesses at Medtronic operate across 15 cardiovascular market segments and maintain leading market share positions in nearly all of them. The Cardiac and Vascular Group of businesses at Medtronic have nearly three times the depth and breadth of its nearest competitors. Cardiac and vascular-focused hospital administrators are typically responsible for making device selections across the full cardiovascular spectrum.
"Our Cardiac and Vascular Group of businesses have historically focused primarily on clinicians as the primary decision makers for medical device selection for their patients," said Michael Coyle, executive vice president and group president of the Cardiac and Vascular Group of businesses at Medtronic. "With the growing partnership between clinicians and administrators as they work together to address the changing healthcare environment, our strategy going forward is to leverage Medtronic’s breadth of talent, technologies, products and services across our 15 market segments to help hospital administrators address their unmet needs, while maintaining and strengthening our ability to serve clinicians and their patients. This new leadership strategy and structure uniquely positions Medtronic as the only medical device company capable of doing both."
While reporting into the new national sales organization, the direct sales representatives will preserve their traditional business unit focus and expertise and remain dedicated to serving clinicians and their patients.
To address the increasing operational challenges faced by cardiac and vascular-focused hospital administrators, Medtronic has created a Strategic Account Management team that now reports into the new sales organization. This team will augment the work of the traditional field representative by focusing exclusively on delivering a cross-business portfolio of products and services to cardiac and vascular-focused hospital administrators.
"Medtronic's new structure will allow me, as a clinician, to work better with my institution in achieving clinical and financial objectives,” said William Katsiyiannis, M.D., an electrophysiologist and vice chairman of cardiology at Minneapolis Heart Institute.
"Medtronic’s new market strategy reflects how large hospital systems are making device selection decisions today," said David Hargraves, senior director, clinical supply chain at UPMC, a global health enterprise headquartered in Pittsburgh. "By understanding and helping me meet my institution’s challenges, Medtronic helps us ensure we are better positioned to serve our patients."
Medtronic’s Cardiac and Vascular Group is comprised of the Cardiac Rhythm Disease Management, Structural Heart, Endovascular Innovations, Peripheral, Coronary, Renal Denervation, and Physio-Control businesses. Sales leadership from all of these businesses except Physio-Control is included in the new structure. Medtronic announced its renewed intent to divest Physio-Control earlier this year.
Medtronic, Inc. (www.medtronic.com), headquartered in Minneapolis, is the global leader in medical technology – alleviating pain, restoring health, and extending life for millions of people around the world.
Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic’s periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results.
For Medtronic, Inc.
Christopher Garland, 763-526-1621
Jeff Warren, 763-505-2696
KEYWORDS: United States North America Minnesota
INDUSTRY KEYWORDS: Practice Management Health Cardiology Hospitals