Devices & Diagnostics

Medtronic subsidiary posts $269M profit in Ireland

Medtronic Vascular Galway Ltd., the Irish subsidiary of Medtronic Inc. (NYSE:MDT), posted a $269 million (USD) profit on more than $1 billion in sales during 2010, according to a report in the Irish Times.

Medtronic Vascular Galway Ltd., Medtronic Inc.’s Irish subsidiary, posts a $269 million profit on more than $1 billion in sales.

The Emerald Isle was good to Medtronic last year.

Medtronic Vascular Galway Ltd., the Irish subsidiary of Medtronic Inc. (NYSE:MDT), posted a $269 million (USD) profit on more than $1 billion in sales during 2010, according to a report in the Irish Times.

The subsidiary, which Medtronic acquired in 2009 when it bought out another subsidiary, Medtronic Vascular Holdings, employs 1,850 employees in Galway, according to the newspaper.

The company said sales to other Medtronic group companies in the U.S. and Switzerland made up the bulk of its sales.

Medtronic, which is set to report its third quarter results for 2011 Feb. 22, lists about 170 subsidiaries across the globe, according to regulatory filings.

The Massachusetts Medical Devices Journal is the online journal of the medical devices industry in the Commonwealth and New England, providing day-to-day coverage of the devices that save lives, the people behind them, and the burgeoning trends and developments within the industry.

This post appears through the MedCity Influencers program. Anyone can publish their perspective on business and innovation in healthcare on MedCity News through MedCity Influencers. Click here to find out how.