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Medtronic operational headquarters in Fridley, Minnesota, a suburb of Minneapolis. Medtronic was founded in 1949 in Minneapolis by Earl Bakken and his brother-in-law, Palmer Hermundslie, as a medical equipment repair shop. [8] Bakken invented several medical technology devices that continue to be used around the world today. [citation needed]
Post-World War II hospitals were just starting to employ electronic equipment, but did not have staff to maintain and repair them. Sensing an opportunity, with his brother-in-law, Palmer Hermundslie, he formed Medtronic (a portmanteau of "medical" and "electronic") in a small garage, primarily working with the University of Minnesota hospital.
All four had built their careers at Medtronic. The founding partners had multiple lawsuits by and against Medtronic, all settled out of court. CPI was a CRM company that revolutionized the pacemaker industry by introducing a long life lithium iodine pacemaker, a technology still utilized by a majority of the market. [3]
Medtronic named Gary Corona, senior vice president of global financial planning and analysis, as interim CFO. Corona joined Medtronic in January 2023 after a 26-year career at General Mills.
Anthony J. Adducci (August 14, 1937 – September 19, 2006) was a pioneer of the medical device industry in Minnesota. He is best known for co-founding Cardiac Pacemakers, Inc., the company that manufactured the world's first lithium battery-powered artificial pacemaker.
Zumkehr said during the last long-term shutdown in 2019, many staff were forced to get other forms of employment to make ends meet. Despite the efforts to avert the shutdown, plans are still being ...