We are at the forefront of medical technology innovation, challenging ourselves to develop high-quality products and therapies that positively impact people’s lives. Our future promises even greater social impact.
Healthcare is at a crossroads. Our industry faces intense clinical and economic challenges that require new approaches and creative collaboration as we pursue better healthcare delivery and improved patient outcomes for more people.
Medtronic is leading this evolution with a transformative business strategy to advance global healthcare. Our approach combines meaningful innovation in therapies, products, and systems; with value-based, cost-efficient healthcare models; and technologies and partnerships that open the door to quality care for more people around the world.
This strategy has created significant positive impact. More than 65 million people benefited from Medtronic technologies this year— two every second — as we helped our customers deliver more integrated care for patients across the healthcare continuum.
Our sustainability efforts improve operational efficiency, reduce our environmental footprint, deepen relationships with customers, and support new business. Addressing and reporting on our sustainability material issues — global access to healthcare, product quality, product stewardship, responsible sourcing, and ethics in sales and marketing — is critical to the long-term viability of our business.
FY2016 highlights of our financial, social, and environmental impact:
Delivered strong financial results, with $28.8 billion in revenue and $3.5 billion in net earnings.
Invested $2.2 billion in research and development (R&D), representing 7.7 percent of net sales.
Donated more than 2 percent of pre-tax profits — $114.6 million — to charitable causes.
Supported Hub & Spoke healthcare delivery models with an investment in Abraaj Group’s Growth Markets Health Fund (GMHF). GMHF will purchase and build hub hospitals in several emerging markets, including Bangladesh, Ethiopia, Ghana, India, Kenya, Nigeria, and Pakistan, expanding access to specialists for millions of patients.
Increased healthcare capacity and access by investing more than $152 million in training for approximately 60,000 medical professionals.
On track to meet our goal to reduce operational energy use and greenhouse gas emissions by 15 percent by 2020 from a FY2013 baseline.
Launched a Responsible Supply Management function to support socially and environmentally responsible business practices from our suppliers.
For more than half a century, Medtronic has operated with a clear, compelling Mission: to alleviate pain, restore health, and extend life. We believe that access to quality healthcare is a fundamental right of all people around the world. We believe that continuously improving clinical outcomes through innovation will present virtually limitless opportunities to extend our Mission.