Medtronic spent $70M on training, redesigns brand: report

Carly Behm -   Print  |
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Medtronic has invested nearly $70 million on healthcare training and executed health equity strategies, according to its fiscal year 2021 Integrated Performance Report: Engineering Impact. The report, released Oct. 12, highlights the company's efforts toward environmental, social and governance.

The company also unveiled a new logo and tagline, "Engineering the Extraordinary."

Four more things to know:

1. Medtronic aims to enhance product quality and patient experience by achieving a 10 percent reduction in aggregate product complaint rate for identified product families by fiscal year 2025 compared to 2020. 

2. The company has 100 percent ethnically diverse and gender pay equity in the U.S. and 99 percent gender pay equity globally. Medtronic also aims to have 45 percent of global management positions held by women and 30 percent of U.S. management held by ethnically diverse talent.

3. Medtronic set a goal to have 20 percent of its revenue flow from products and therapies released in the prior 36 months to benefit more patients worldwide. 

4. Medtronic will improve its packaging to reduce waste by 25 percent by fiscal year 2025 compared to 2021. It will also minimize paper reduction from instruction manuals by 35 percent by fiscal year 2027 compared to 2021.

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