The Medical Technology Development Company

1750 WordsFeb 7, 20177 Pages
Medtronic is a well-known medical technology development company established in Fridley, Minnesota. This company was founded in 1949 by Earl Bakken. The medical device company has two headquarters of which one is located outside of the United States in Dublin, Ireland and another one here in the United States located in Fridley, Minnesota. Medtronic has expanded across the world in over 120 different countries. There are about 27 locations throughout the United States. This company is well-known to the public eye and is growing daily. The target market for Medtronic is any and every one that needs or desire medical service or medical supplies to survive. The leading customers for this establishment are healthcare facilities. Healthcare…show more content…
Although Medtronic has only seen a 1% (Medtronic, 2017) increase in sales from their last reporting in 201, it is still an increase for the company rather than a decrease. The focus on the cardiac devices give Medtronic a great advantage on their competitors. Medtronic also has subsidiary companies under them that also produce medical equipment that will boost their general revenue annually. Covidien is one of the many companies that are a division of Medtronic that will help to increase the annual revenue. A company as large as Medtronic has a large opportunity for international trading. Being that the headquarter is in Dublin, Ireland, this is one advantage to retrieve the same products for a lesser value outside of the United States and receive a higher profit when selling them in the United States at a higher rate. Most of the products are manufactured within the headquarters in Ireland and there are also some products or components of a product purchased from other countries and the finish product is later produced by Medtronic. The opportunity to receive the products internationally is a great advantage for the company to continue their road to success with little to no loss in revenue. These items are usually set at a lower cost outside of the United States with a higher quantity which produce a greater revenue. There is always a demand for medical supplies for
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