Medtronic finally hears call of Masimo CEO to share data
Medtronic CEO Omar Ishrak joins the board of Patient Safety Movement Foundation founded by Masimo CEO Joe Kiani and takes the pledge to share data, something Kiani had wanted for years.
Medtronic CEO Ishrak isn’t threatened by Google entering the medical device space
There might be enough room for everyone in the space, but a little competition should be expected.
Medtronic CEO Omar Ishrak takes to Twitter with #MDTEarnings following Q2 report
Medtronic (MDT) CEO Omar Ishrak is flying the high of the medical device company’s Q2 earnings report, tweeting up a storm (for him). Ishrak, who normally dips in and out of Twitter with no more than a few tweets a week, has made at least seven posts about #MDTEarnings in two days. Here’s what the […]
Medtronic’s classy, tempered response to local Minnesota labor issue
Medtronic‘s CEO Omar Ishrak has advised Cretex, one of its suppliers, and the labor group striking the company, Local 563, to “negotiate in good faith.” At the end of August, Local 563 asked Medtronic (MDT) to step in and stand up for workers’ retirement funds after Cretex slashed pensions. I asked whether Medtronic had a […]
Does Medtronic have a responsibility to the health of Minnesota workers?
Earlier this week, Cretex union concrete laborers took their strike to the Minnesota State Fair. There, they again asked Minnesotans to appeal to the state’s famous medical devices giant Medtronic (MDT). Laborers Local 563 has had regular presence outside Medtronic’s headquarters, addressed CEO Omar Ishrak and shareholders at the company’s annual meeting and placed a […]
Medtronic’s Ishrak crystalizes new place in healthcare: We’re not a medical device provider
Medtronic CEO Omar Ishrak summed up the changes underway at medical device companies like his in a few succinct minutes on Monday at the World Health Care Congress in Washington, D.C. “We’ve been viewed and viewed ourselves as simply a device provider as opposed to a healthcare solution provider which is what this is,” said […]
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
Medtronic, Aetna CEOs aren’t the only execs tweeting, here are 8 more to follow
In other industries like tech and media, all of the big players’ CEOs are on Twitter – Marissa Mayer, Steve Forbes and Michael Dell, just to name a few. But leaders of big healthcare companies haven’t shown as much gusto in that regard. It’s somewhat of a novelty to find an active top executive of […]
Covidien executive echoes Medtronic CEO Omar Ishrak in describing fundamental shifts in healthcare
In talking about the medical device industry’s role in the rapidly shifting healthcare industry, the president of Covidien’s Global Vascular Therapies business sounded a lot like Medtronic CEO Omar Ishrak. “We have gotten away by not demonstrating the economic value of products,” said Stacy Enxing Seng, at a Women’s Leadership event Thursday organized in the […]
A tweet shows how world expects repeat of GE performance from Medtronic’s Ishrak
A little over a year ago, Medtronic brought in a complete outsider to reinvigorate a company whose biggest divisions were slowing down. Omar Ishrak is known for having engineered a small miracle at GE when Jack Welch installed him to run the ultrasound division in the company. Ishrak transformed the business — a business that […]
Medtronic to partner with payers globally to leverage outcomes data
Here’s another indication that the old models of healthcare are crumbling. In a conference call to discuss fourth quarter results, Medtronic CEO Omar Ishrak announced that the company is pursuing partnerships with payers worldwide to try and leverage outcomes data that can help develop cost effective therapies and manage chronic diseases. The strategy is being […]
With the Rise of AI, What IP Disputes in Healthcare Are Likely to Emerge?
Munck Wilson Mandala Partner Greg Howison shared his perspective on some of the legal ramifications around AI, IP, connected devices and the data they generate, in response to emailed questions.
Medtronic CEO Omar Ishrak wields IT department as tool for growth
A company’s IT department can be a place where operational efficiencies can be achieved, but Medtronic (NYSE:MDT) CEO Omar Ishrak wants to wield IT as a tool for growth too. A Wall Street Journal blog post recounts how Ishrak, who is coming upon his one-year anniversary at the helm of Medtronic, approached Medtronic’s chief information officer […]
How low can you go? Creating value with cheap medical devices
...we ask ourselves whether the small emerging med-tech company can achieve success (and funding) with a “tons cheaper” value proposition. In theory, any company starting fresh with design and manufacturing should be able to take advantage of Moore’s law in a way that the big guys with vast installed bases and capital investments can’t. The opportunity for success is there, but not every company or technology is cut out to win at price-cutting.
Medtronic wants to trim a quarter of costs on top of $1B already cut
In an earnings call last week, Medtronic (NYSE:MDT) CEO Omar Ishrak announced he was challenging the medical device maker to cut 25 percent of its costs — up to $1.3 billion — from everything from logistics to sales over the next five years. This comes as the company wraps up the final year of a […]
Omar Ishrak: Medtronic won’t spin off spine business; will try to sell Physio-Control
It’s unlikely that Medtronic will be going the way of Abbott Labs, which recently separated its drug business from the rest of its operations, any time soon. Despite suggestions that Medtronic spin off its troubled spine business, CEO Omar Ishrak told Reuters on Friday that Medtronic sees no benefit in doing so because the business […]
Medtronic CEO: Medical technology without regard to cost not sustainable
Any new products introduced by medical device companies must not only have clinical value, but they must deliver economic value to customers, Medtronic (NYSE:MDT) CEO Omar Ishrak said at the Cleveland Clinic Medical Innovation Summit. “Technology without a sense of the cost-effectiveness of that technology is not sustainable,” Ishrak said. For Medtronic, that means thinking […]