Medtronic Company Profile: History, Surgical Robotics, Financials and Stock
Updated: 7 days ago
Medtronic is one of the world's largest medical device companies, with about 95,000 employees and revenue of USD 33.54 billion. It entered surgical robotics in 2018 by buying Mazor Robotics for USD 1.64 billion. This profile sets out its history, robotics business, figures and listing.
Medtronic at a Glance
Fact | Detail |
Company | Medtronic plc |
Founded | 1949, in Minneapolis |
Founders | Earl Bakken and Palmer Hermundslie |
Headquarters | Galway, Ireland, legal and executive; Minneapolis, operational |
Employees | About 95,000 in 2025 |
Revenue | USD 33.54 billion, 2025 |
Net income | USD 4.662 billion, 2025 |
Stock listing | NYSE: MDT |
Chairman and CEO | Geoff Martha |
Company History
Earl Bakken and his brother-in-law Palmer Hermundslie founded Medtronic in 1949 as a repair shop for medical equipment. The acquisition of Covidien, announced in June 2014 at USD 42.9 billion, made it possible to move the legal headquarters to Ireland.
Surgical Robotics
Medtronic bought Mazor Robotics, a maker of robotic guidance systems for spine surgery, in September 2018 for USD 1.64 billion. It followed with Titan Spine in 2019 and Medicrea in 2020, which added implants and planning software for spine procedures. The source used does not describe the company's soft tissue robot, so it is not covered here.
Major Acquisitions
1998: Physio-Control, USD 538 million.
2001: MiniMed.
2007: Kyphon.
2014: Covidien, announced at USD 42.9 billion.
2016: HeartWare International, USD 1.1 billion.
2018: Mazor Robotics, USD 1.64 billion.
2019: Titan Spine.
2020: Medicrea.
2022: Affera and Intersect ENT.
Financial Performance
Item | 2025 |
Revenue | USD 33.54 billion |
Net income | USD 4.662 billion |
Net margin | About 14% |
Stock Information
Medtronic trades on the New York Stock Exchange under the ticker MDT.
Note: this section is general information, not investment advice.
Leadership
Name | Role |
Geoff Martha | Chairman and Chief Executive Officer |
Strengths and Challenges
Strengths
Scale across many areas of medicine.
An established robot in spine surgery.
Solid profitability.
Challenges
A late start in soft tissue robotic surgery against an entrenched leader.
Robotics is a small part of a very large group.
Current Catalogue Coverage
Catalogue checked on 15 October 2026: 1 associated product records. The links below are representative entries, rather than a claim that every historical model is currently available.
Medtronic FAQ
Is Medtronic publicly traded?
Yes, on the New York Stock Exchange under the ticker MDT.
Where is Medtronic based?
Its legal headquarters is in Galway, Ireland, and its operational headquarters in Minneapolis.
When did Medtronic buy Mazor Robotics?
In September 2018, for USD 1.64 billion.
Who is the CEO of Medtronic?
Geoff Martha.
Who founded Medtronic?
Earl Bakken and Palmer Hermundslie, in 1949.
Sources
Wikipedia: Medtronic
