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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.
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The Bakken Museum (/ ˈ b ɑː k ən / BAH-kən) is situated in Minneapolis, Minnesota, United States.Established in 1975 by Earl Bakken, the co-founder of Medtronic, it serves as a science museum.
[1] [2] In 1989, he joined Medtronic as president and chief operating officer. [1] [2] He was elected chief executive officer in 1991 and chairman of the board in 1996. [1] [2] He was a professor at the Harvard Business School in Boston from 2004 to 2016 and is currently a senior fellow.
ATS Medical, Inc. was a developer and manufacturer of products for the cardiac surgery market based in Minneapolis, Minnesota.It was acquired by Medtronic in 2010.. The publicly traded company was founded in 1992 by Manny Villafana, an entrepreneur in the cardiology/cardiac surgery industry.
Intersect ENT develops products for Ear, Nose and Throat conditions as well as the treatment of sinusitis. [2] Its most known device is the Propel mometasone furoate implant that is used after sinus surgery to keep the sinus passageways open and aid in the healing process by delivering an anti-inflammatory steroid directly to the sinuses.
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]