Medtronic 2010 Annual Report Download - page 8

Antoinette Walters, shown here and on the cover, had
such a severe lumbar scoliosis that the pain incapaci-
tated her, and the deformity was progressively getting
worse. Then she underwent spinal fusion surgery using
Medtronic spinal products to correct the alignment.
Today, Antoinette’s spine is much straighter, her pain
is virtually gone, and she is several inches taller.*
In order to more effectively address key differences in
global markets, we recently modified our strategy for
global growth. Rather than define our business in terms of
United States and international markets, we will now focus
and organize our resources around developed markets and
emerging markets.
In the developed markets, including the United States, our
focus will be on rapid innovation of technologies that have
the potential to impact some of the world’s most difficult-to-
treat chronic diseases, while continuing to reinforce and
build the body of evidence that will make them the standard
of care. In emerging markets, such as China, India, Brazil,
Russia, and the Middle East and Africa, our focus will be to
build the distribution, training, education, and other health-
care infrastructure needed to ensure greater access to our
products and therapies.
Going forward, our success will be driven by leveraging what
is already the strongest global footprint in medical technol-
ogy. Currently, we have more than 16,000 people located
outside the United States, serving physicians and patients
in more than 120 countries. We recently opened new state-
of-the-art facilities in Singapore, Russia, Ireland, Canada,
Brazil, and Mexico. This geographic diversity, along with our
broad, diversified product portfolio, gives Medtronic incred-
ible strength and competitive advantage.
Glob al he alth; glo bal c it i z en s hip
In September 2011, the United Nations General Assembly
will, for the first time ever, hold a summit on noncommuni-
cable disease. This unprecedented event is extraordinary in
recognizing the growing burden of chronic disease around
the world, especially in developing nations.
As a global leader in medical technology and a company
dedicated to corporate citizenship, we applaud this action
and stand committed to contribute. With unmatched
urgency, we are aligning our people, our products, and our
giving to improve the way people with chronic disease are
cared for around the world—no matter where they live or
what their economic status.
Through the Medtronic Foundation, we invested nearly $30
million worldwide in fiscal year 2010 to educate healthcare
professionals in countries that lack critical infrastructure; sup-
port leading patient advocacy groups in Europe, Japan, and
* Individual patient results may vary.
North America; and fund programs that will help generate
the next generation of healthcare innovators. We nearly
tripled donations of our life-saving products from $6.8 mil-
lion in fiscal year 2009 to $18 million in fiscal year 2010.
For example, we donated nearly $900,000 in medical devices
and surgical supplies to relief efforts in Haiti following the
catastrophic earthquake that devastated the country. These
donations were part of our $2.1 million total contribution
to the effort. In addition, hundreds of employees packed
meals, provided on-site medical care, and made their own
financial contributions.
This fiscal year in the United States, we will triple the
Foundation’s resources to improve survival rates from sudden
cardiac arrest, which kills more Americans annually than any
other disease. We never forget that the very nature of our
products makes corporate citizenship our business.
Ou r peo ple: inn ovator s for life
At the heart of Medtronic’s innovation are the people who
generate ideas and bring them to life in the form of a new or
improved product or therapy. The power of our employees
cannot be overstated; they devote their lives, every day, to
improving the lives of others. They make our Mission more
than words on a page by proudly living the Mission through
their every action. It is with humble gratitude and great
pride that I wish to thank all of them for their continued
dedication, commitment, and passion.
In the year of the 50th anniversary of our Mission, we have
never been more focused on or more dedicated to achiev-
ing our goals. Our pipeline has never been more robust, our
balance sheet more strong, our leadership team more
aligned, or the time more right to change the way that
healthcare is delivered. Our global depth and breadth and
unrelenting focus on innovation will continue to distinguish
us through these challenging, but opportune, times.
Sincerely,
William A. Hawkins
Chairman and Chief Executive Officer
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