Medtronic 2011 Annual Report Download - page 7

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3
to serve the millions of people who currently
do not have access to our technology. Countries
like China, India, Russia, and Brazil represent a
tremendous short- and long-term opportunity
for us. To be successful in these markets, we
must deliver the right products, in the right way,
at the right price. We will partner with leaders
around the world to advocate for education and
help put in place the health care infrastructure
needed to ensure increased access to better
care for all people.
Innovation. Medtronic has vast expertise and
capabilities, and a strong heritage of providing
patients and physicians with some of the most
innovative products in medical technology.
Our investment in research and development
is unparalleled in our industry. However, we
will sharpen our focus on opportunities for
innovation that drive higher quality while
concurrently reducing cost and increasing access
for patients. To that eect, we will increase our
eorts to enhance the clinical and economic
value of our products. This will accelerate
adoption of important medical technology
advances, thus saving more lives.
Execution. Enhancing globalization and
innovation will take some time, but better
execution is something we can all focus on today.
While we have enviable share positions in
many areas, I am convinced we can and must
do better. This starts by ensuring we have the
right operating framework in place and holding
each other accountable for results. We will also
maintain a relentless focus on the quality and
reliability of our products. Importantly, increased
operational rigor will lead to more ecient use
of resources, improved shareholder value, and
enhanced patient care.
U 
My rst few months at Medtronic have validated
what I heard from our employees and customers
across the globe — the need for what we do has
never been greater. We have the opportunity
to improve human health around the world,
and at the same time to create shareholder value.
Given the sense of purpose and passion instilled
in us by our Mission, there is no question we
will contribute to combating the global burden
of chronic disease. Reigniting growth by
accelerating global expansion and optimizing
innovation is central to alleviating pain, restoring
health, and extending life. I am proud to be
leading such an exceptional company and look
forward to engaging with you in the months and
years ahead.
Sincerely,
Omar Ishrak
Chairman and Chief Executive Officer