Medtronic CEO on Earnings, Return to Office, Competition

The video discusses the impact of COVID-19, particularly the Delta variant, on elective procedures and the strategies for returning employees to work. It highlights Medtronic's focus on innovation and competition in the medical device market, especially in the diabetes sector. The video also covers supply chain management challenges and solutions during the pandemic.

What was the main impact of the Delta variant on Medtronic's business in Q1?

• Trail off in cases in developed markets

• No impact on business

• Improved quarterly results

• Increased elective procedures

What is Medtronic's strategy for dealing with the Delta variant's impact?

• Ignore its impact

• Increase elective procedures

• Consider it short-lived and manageable

• Assume it will be long-term

What is Medtronic's approach to bringing employees back to the office?

• No vaccination required

• Remote work indefinitely

• Vaccination or negative COVID test required

• Mandatory return without conditions

How has Medtronic performed in its three largest segments?

• Gained market share only in diabetes

• Held or gained market share in all segments

• Lost market share in all segments

• Lost market share in cardiac rhythm

What has been the impact of technology on healthcare according to Medtronic?

• Increased costs

• Improved outcomes and access

• Reduced innovation

• Limited market expansion

What is a key challenge Medtronic faces in the diabetes market?

• Decreasing demand for insulin pumps

• No competition

• Falling behind in continuous glucose monitoring

• Lack of innovation

How did Medtronic manage supply chain challenges during the pandemic?

• Closed factories temporarily

• Stopped receiving shipments

• Extended contracts with suppliers

• Reduced production