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Medtronic
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Latest analysis
Updated Oct 19, 2026
Medtronic completes MiniMed separation; appoints Marinaro as President.
Medtronic completed the separation of MiniMed Group, Inc. on October 15, 2026, exchanging all remaining shares in an exchange offer that was 5.4x subscribed. The company simultaneously appointed Michael Marinaro as President, expanding his role to include oversight of Greater China operations while retaining Medical Surgical Portfolio responsibilities. CEO Geoffrey Martha framed the separation as enabling Medtronic to focus its full organizational weight on Cardiovascular, Neuroscience, and Surgical portfolios.
Tone: bullishRevenue
$36.4B
MDT 10-K · FY 2026
Employees
95,000
Revenue FY2025
$33.5B
Founded
1949
Profile
MDT 10-K Item 1 · Jun 18, 2026Medtronic plc is the leading global healthcare technology company, founded in 1949 and headquartered in Galway, Ireland. The company develops, manufactures, and sells device-based medical therapies and services across cardiovascular, neuroscience, and medical surgical markets in more than 150 countries. Its strategic focus spans innovation-driven growth, superior patient and provider outcomes, and the integration of data, AI, and automation into care delivery.
Read filing description ↓ Collapse description ↑
Medtronic plc, headquartered in Galway, Ireland, is the leading global healthcare technology company. Medtronic was founded in 1949 and today serves healthcare systems, physicians, clinicians, and patients in more than 150 countries worldwide. We remain committed to a mission written by our founder in 1960 that directs us 'to contribute to human welfare by the application of biomedical engineering in the research, design, manufacture, and sale of products to alleviate pain, restore health, and extend life.' We have three reportable segments that primarily develop, manufacture, distribute, and sell device-based medical therapies and services: the Cardiovascular Portfolio, the Neuroscience Portfolio, and the Medical Surgical Portfolio. In May 2025, the Company announced its intent to separate the Diabetes Business, with the intention to create a new independent, publicly traded company, MiniMed Group, Inc. On March 9, 2026, MiniMed completed an initial public offering. Our business strategy is evolving in three key areas: accelerating innovation-driven growth through attractive end markets and robust pipeline; delivering superior outcomes and better experiences for patients and providers; and turning data, AI, and automation into action to tailor therapies in real-time, facilitate remote monitoring and care delivery, and create new standards of care. We sell our medical devices and therapies through a combination of direct sales representatives and third parties globally and are not dependent on any single customer for more than 10 percent of our total net sales.
Primary products
- Implantable cardiac pacemakers (Azure MRI SureScan, Micra transcatheter pacing system)
- Implantable cardioverter defibrillators (Aurora Extravascular-ICD, Cobalt/Crome family)
- Cardiac resynchronization therapy devices (Claria/Amplia/Compia CRT-D family)
- Cardiac ablation products (PulseSelect, Affera Sphere-360, Affera Sphere-9)
- Insertable cardiac monitoring systems (Reveal LINQ, LINQ II)
- TYRX absorbable antibacterial mesh envelope
Business segments
End markets
Geographies
“Medtronic plc, headquartered in Galway, Ireland, is the leading global healthcare technology company.” Competitive position, as stated in the filing
Revenue commentary · FY 2026
Total net sales increased from $33,537 million in fiscal year 2025 to $36,364 million in fiscal year 2026, driven by growth across all three reportable segments as well as the Diabetes Business.
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