Medtronic 2013 Annual Report Download - page 19

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52%
48%
Fiscal Year 2013
(dollars in millions)
Total Cardiac and Vascular
Group
$8,695
Consolidated Net Sales $16,590
Total Restorative
Therapies Group
$7,895
75732me_10K.indd 4 6/25/13 6:39 PM
Table of Contents
PART I
Item 1. Business
Overview
Medtronic is the global leader in medical technology - alleviating pain, restoring health, and extending life for millions of people
around the world. Medtronic was founded in 1949, incorporated as a Minnesota corporation in 1957, and today serves hospitals,
physicians, clinicians, and patients in more than 140 countries worldwide. We remain committed to a mission written by our
founder more than 50 years ago that directs us “to contribute to human welfare by the application of biomedical engineering in
the research, design, manufacture, and sale of products to alleviate pain, restore health, and extend life.”
We currently function in two operating segments that manufacture and sell device-based medical therapies. Our operating segments
are as follows:
• Cardiac and Vascular Group
Cardiac Rhythm Disease Management (CRDM)
Coronary
Structural Heart
Endovascular
• Restorative Therapies Group
Spine
Neuromodulation
Diabetes
Surgical Technologies
The chart above shows the net sales and percentage of total net sales contributed by each of our operating segments for the fiscal
year ended April 26, 2013 (fiscal year 2013). For more information please see Note 19 to the consolidated financial statements in
“Item 8. Financial Statements and Supplementary Data” in this Annual Report on Form 10-K.
The results of operations, assets, and liabilities of the Physio-Control business, which were previously presented as a component
of the Cardiac and Vascular Group operating segment, are classified as discontinued operations. All information, including the
chart above, in this “Item 1. Business” includes only results from continuing operations (excluding Physio-Control) for all periods
presented, unless otherwise noted. For further information regarding discontinued operations, see Note 16 to the consolidated
financial statements in “Item 8. Financial Statements and Supplementary Data” in this Annual Report on Form 10-K.
With innovation and market leadership, we have pioneered advances in medical technology in all of our businesses. Over the last
five years, our net sales on a compounded annual growth basis have increased approximately 4 percent, from $14.256 billion in
fiscal year 2009 to $16.590 billion in fiscal year 2013. Our commitment to enhance our offerings by developing and acquiring
new products, wrap-around programs, and solutions to meet the needs of a broader set of stakeholders is driven by the following
key imperatives:
• Creating new therapies and technologies
• Delivering clinical and economic value
• Accelerating globalization
52%
48%
Fiscal Year 2013
(dollars in millions)
Total Cardiac and
Vascular Group
$8,695
Consolidated Net Sales $16,590
Total Restorative
Therapies Group
$7,895
1