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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.
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]
Cardiac Pacemakers, Inc. was founded by Anthony Adducci, Manny Villafaña, Arthur Schwalm, and James Baustert, each with experience in a different aspect of the pacemaker business. All four had built their careers at Medtronic. The founding partners had multiple lawsuits by and against Medtronic, all settled out of court. [3]
[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.
In 1971 he co-founded Cardiac Pacemakers Inc.(CPI) with Anthony Adducci, Arthur Schwalm, and James Baustert, each with experience in a different aspect of the pacemaker business. All four had built their careers at Medtronic. The founding partners had multiple lawsuits by and against Medtronic, all settled out of court.
Gary Corona will continue as interim CFO until Piéton joins Medtronic. Since 2022, Piéton has served as CFO of Renault, No. 60 in the Fortune 500 Europe, one of the oldest and most prominent car ...
Inventor Earl Bakken, co-founder of Medtronic. The Bakken Museum was established by inventor Earl Bakken, who also founded the medical technology company Medtronic in 1949. [5] Bakken harbored a lifelong fascination with electricity and innovation.
Covidien (formerly an independent company known as Covidien plc) is an Irish-headquartered global health care products company and manufacturer of medical devices and supplies.