Medtronic

What Medtronic does

Medtronic plc (NYSE: MDT; incorporated in Ireland; operational hub in Minneapolis) is a global medical technology company founded in 1949 that designs, manufactures, and sells devices across cardiovascular, surgical robotics, neurovascular, diabetes (now spun off as MiniMed), and neuromodulation therapy areas. The company operates across more than 150 countries, addressing roughly 70 health conditions, with a product portfolio that includes the Hugo Robotic-Assisted Surgery system (FDA-cleared for urologic procedures in December 2025 with 510(k) submissions pending for general and gynecologic surgery), the PulseSelect Pulsed Field Ablation system (first PFA technology approved in the U.S.), the Affera cardiac mapping and ablation system, the Stealth AXiS surgical navigation platform, the Nellcor pulse oximetry system with Nell-EQ intelligent processor, the Symplicity Spyral renal denervation system, and the Scientia Vascular neurovascular access product line acquired in June 2026.

The company generates revenue primarily through direct hospital sales of medical device hardware and capital equipment (including recurring consumables, accessories, and software licenses tied to installed platforms), supplemented by professional services and channel-based distribution partnerships (e.g., exclusive U.S. distribution for Corsano Health wearables; Western Europe distribution for Retia Medical's Argos monitor). Pricing is negotiated via multi-year hospital procurement contracts and Group Purchasing Organization (GPO) agreements; no consumer-facing pricing is published. Revenue model is hardware-led, with Q4 FY2026 revenue of $9.807 billion and full-year FY2026 revenue of $36.364 billion (up 8.4% YoY).

The go-to-motion combines a direct enterprise field sales organization targeting hospitals, health systems, and ambulatory surgery centers with regional channel partnerships and an active bolt-on M&A program ($550M Scientia Vascular, up to $585M CathWorks, $650M SPR Therapeutics). The customer base spans primary hospitals and healthcare systems, specialist physicians (cardiologists, electrophysiologists, neurosurgeons, interventional radiologists), and emerging remote/home healthcare segments. FY2027 organic revenue growth guidance is 5.5%-6.0%, with the company maintaining 49 consecutive years of dividend increases and an A S&P credit rating.

Name

Medtronic

Legal name

Medtronic plc

Website

https://medtronic.com

Company type

Public

Founded year

1949

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Medtronic plc (NYSE: MDT) is a global medical technology company founded in 1949 that designs, manufactures, and sells devices across cardiovascular, surgical robotics, neurovascular, and neuromodulation therapy areas, serving hospitals, healthcare systems, and ambulatory surgery centers across 150+ countries.

Ownership category

akta.pro rank

Product category

Medical Devices

NAICS

Surgical and Medical Instrument Manufacturing (339112), Electromedical and Electrotherapeutic Apparatus Manufacturing (334510), Surgical Appliance and Supplies Manufacturing (339113)

SIC

Surgical & Medical Instruments & Apparatus (3841), Electromedical & Electrotherapeutic Apparatus (3845)

akta.pro primary industry

Surgical Robotics & Computer-Assisted Surgery Platforms (HLAHADAF)

akta.pro secondary industries

Cardiac Assist & Heart Failure Therapies (Implantables, Neuromodulation) (HLAHAFAL), Surgical Navigation, Robotics & Patient-Matched Instrumentation (Ortho/Spine) (HLAHAEAL), Surgical Navigation, Tracking & Intraoperative Guidance (Ortho/Neuro/ENT) (HLAHADAG)

Keywords

• Medical device manufacturing
• Cardiovascular therapy devices
• Surgical robotics systems
• Neurovascular intervention
• Neuromodulation therapy devices

Headquarters

HQ city

Minneapolis

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Technology or R&D, Marketing or Sales, Personnel, Operations

Revenue model

1. Medical Device Hardware Sales: Medtronic generates the majority of revenue through selling medical devices and hardware including cardiovascular implants, surgical robots, monitoring systems, and neurovascular products. Revenue is generated through direct hospital sales, distribution partnerships, and recurring device placements.
2. Diabetes Care Products: Following the MiniMed IPO during fiscal 2026, the diabetes business operates as a standalone publicly traded entity (MMED), with Medtronic retaining an ongoing interest in continuous glucose monitoring systems and insulin delivery devices.
3. Surgical Systems and Accessories: Capital equipment sales of surgical robotic systems including Hugo RAS, along with recurring revenue from proprietary consumables, accessories, and software licenses tied to those platforms.
4. Service and Support: Professional services, training, and support services associated with medical device deployment and ongoing clinical utilization.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Medtronic designs, manufactures, and sells medical devices and capital equipment across cardiovascular, surgical robotics, neurovascular, neuromodulation, and diabetes therapy areas. Its portfolio includes robotic-assisted surgery systems (Hugo RAS), pulsed field ablation systems (PulseSelect), renal denervation systems (Symplicity Spyral), surgical navigation platforms (Stealth AXiS), pulse oximetry systems (Nellcor), and cardiac mapping/ablation systems (Affera), sold primarily to hospitals, healthcare systems, and ambulatory surgery centers worldwide.

Differentiator

Problem solved

Functional benefit

Brands

• MiniMed: Diabetes care business that was spun off as a standalone publicly traded entity during fiscal 2026
• Hugo
• PulseSelect
• Scientia Vascular

Products and services

• Hugo Robotic-Assisted Surgery System
• PulseSelect Pulsed Field Ablation (PFA) System
• Nellcor Pulse Oximetry System with Nell-EQ Intelligent Processor
• Stealth AXiS Surgical System
• Symplicity Spyral Renal Denervation System
• Affera Mapping and Ablation System
• Diabetes Care Products (MiniMed spin-off)
• Scientia Vascular Neurovascular Access Products

Quantifiable outcome

• 78% Cardiac Ablation Solutions revenue growth in Q4 FY26, with 124% U.S. growth, reaching over $2 billion annualized
• +4 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability4 records

Feature6 records

Partnerships

Six partnerships are on record, tiered core and strategic.

• Karl StorzcoreTechnology or Integration · 8 June 2026Collaboration with Karl Storz to enhance ENT offerings. Medtronic received CE mark for Stealth AXiS surgical system for ENT procedures, establishing collaboration to integrate Karl Storz's exoscope technology with Medtronic's navigation and robotic platforms.
• Retia MedicalcoreChannel Partner/ Reseller/ Distributor · 5 June 2026Expanded commercial relationship to distribute Argos Cardiac Output Monitor across Western Europe. Argos uses Multi-Beat Analysis technology developed at MIT and Michigan State University, providing hemodynamic data across ten parameters without requiring calibration. First entry into European markets for Retia Medical through Medtronic's established distribution network.
• Corsano HealthcoreChannel Partner/ Reseller/ Distributor · 3 June 2026Exclusive U.S. distribution agreement for Corsano's multi-parameter wearable device monitoring heart rate, SpO2, respiratory rate, skin temperature, and activity data. Expands Medtronic's Acute Care & Monitoring portfolio into wrist-worn form factor for hospital and hospital-to-home use. Builds on prior Western Europe distribution agreement.
• Beluga MedicalstrategicStrategic or Co-development Partner · 3 June 2026Strategic investment to develop intracardiac echocardiography (ICE) catheter technologies for integration into the Affera mapping and ablation system. Beluga Medical is a pre-market stage company based in California developing ICE technology for cardiac ablation procedures.
• CardioACCstrategicStrategic or Co-development Partner · 3 June 2026Strategic investment in early commercial-stage company based in Shenzhen, China that received NMPA approval for its ICE system in 2025. Investment supports development of ICE catheter technologies for integration into Medtronic's Affera mapping and ablation system for cardiac ablation procedures.
• Orchestra BioMedstrategicStrategic or Co-development Partner · 29 May 2026Collaboration on BACKBEAT Global Pivotal Trial for hypertension treatment using Orchestra BioMed's technology. Enrollment targeted for Q3 2026. Partnership supports Medtronic's hypertension therapy platform expansion alongside Symplicity renal denervation system.

Scale indicators18 records

Recent moves6 records

Expansion highlights8 records

Direct peers

• Intuitive Surgical: Direct competitor in surgical robotics via the da Vinci platform; competes head-to-head with Medtronic's Hugo RAS system for hospital capital equipment and recurring instrument revenue.
• Boston Scientific: Closest diversified medical device peer across cardiology, peripheral, endoscopy, and neuromodulation; competes directly with Medtronic in cardiac rhythm management, structural heart, and urology/pelvic health.
• Edwards Lifesciences: Direct competitor in structural heart (TAVR/surgical heart valves) and critical care monitoring; overlapping customers with Medtronic's cardiac surgery and surgical ICU portfolios.
• Zimmer Biomet: Orthopedic medical device peer overlapping with Medtronic's spine and cranial/skeletal franchises; competes in joint reconstruction, surgical robotics (Rosa), and enabling technologies for hospitals.
• Penumbra: Neurovascular thrombectomy and access products competitor; directly overlaps with Medtronic's neurovascular stroke portfolio, which was recently reinforced by the $550M Scientia Vascular acquisition.

Broad incumbents

• Johnson & Johnson (MedTech): Broad incumbent in medical devices through its MedTech franchise (Ethicon, DePuy Synthes, Cerenovus); overlaps with Medtronic in surgical robotics via Verb Surgical, spine, neurovascular, and electrophysiology.
• Stryker: Diversified medical device peer across orthopedics, surgical instruments, neurotechnology, and endoscopy; comparable global hospital sales motion and capital equipment model to Medtronic.
• Abbott Laboratories: Large medical device peer competing with Medtronic in cardiac rhythm management, structural heart, neuromodulation, and diabetes (FreeStyle Libre), and serves similar hospital channels.
• Becton, Dickinson and Company (BD): Large medical device and diagnostics company overlapping with Medtronic in surgical instruments, infection prevention, and acute care monitoring sold through similar hospital procurement channels.
• Baxter International: Diversified medical products peer with overlapping franchises in patient monitoring, surgical solutions, and hospital drug delivery; serves the same acute care hospital customers as Medtronic.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Medtronic
• Facebookfacebook.com/Medtronic
• LinkedInlinkedin.com/company/medtronic

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Subsidiaries4 records

Funding overview

Funding rounds11 records

Investors4 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A76 records

Investments95 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Medtronic