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 driven by [...]

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 postrecounts how Ishrak, who is coming upon his one-year anniversary at the helm of Medtronic, approached Medtronic’s chief information officer for [...]

…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.

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 cost-reduction [...]

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 is [...]

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 about how [...]

Life science current events this week include a MedCity News exclusive interview with Medtronic CEO Omar Ishrak, GSK’s new drug marketing model, and the medical device industry in India.

Omar Ishrak’s global ambition for Medtronic (NYSE:MDT) includes two targets.First, it’s India: a nation Ishrak describes as the “biggest hole” in the Minnesota company’s global operations.Secondly, it’s the engineers and researchers overseas – especially in nations like China, India and South Korea – who will help shape local research and development strategies. That is part [...]

Medtronic (NYSE:MDT) intends to use health IT solutions to broaden the company’s historic focus from being a primarily therapy-oriented company and find ways to generate more revenue from existing patients using the company’s medical devices, CEO Omar Ishrak said.Those technologies can also help crack open new global markets where the company has to contend with [...]

Medtronic CEO Omar Ishrak sat down with MedCity News last week for a wide-ranging interview that touched on topics that included the Infuse controversy to healthcare reform to the future of underperforming businesses like Kyphon.Here are edited excerpts from that interview:Q. Your response to the Infuse controversy in having Yale review past clinical data [...]