Fast Company has named Medtronic as one of the world’s best workplaces for innovators, ranking the company at number 51 on its worldwide list.
“Our commitment is to be the most innovative company in healthcare, and we need the best people to do that,” said Medtronic CEO Geoff Martha. “The best people want to work for a company which stands for something. More than ever, people see this in Medtronic, and we’re proud to be recognized as a company that helps innovators thrive.”
Creating and sustaining cultures of innovation
The annual Fast Company ranking recognizes organizations that have created cultures “enabling employees at all levels to improve processes, create new products, or invent new ways of doing business.”
“These leaders and teams created cultures of innovation and sustained them, even as remote work extended into 2021,” said Stephanie Mehta, editor-in-chief of Fast Company. “This newest list of the Best Workplaces for Innovators honors those organizations that found ways to collaborate and invent despite the challenges posed by the pandemic, ensuring employees were at the forefront.”
Encouraging employees to think big and take bold action
Medtronic understands that innovation doesn’t just happen. It’s the result of creativity, knowledge, hard work and teamwork, all blending together within a culture that encourages employees to think big and take bold action. By applying the power of technology to healthcare, Medtronic is changing the world.
To foster rapid innovation during the pandemic, Medtronic launched an invention submission portal through the company website. The platform was designed to capture new ideas and forge productive partnerships faster than ever before to solve for COVID-19 challenges in new ways.
Innovative partnerships with SpaceX and Intel
The company created forums to encourage greater collaboration and accelerate research and development (R&D).
Medtronic entered into unique, innovative partnerships with SpaceX to build valves for life-saving ventilators and with Intel to upgrade software that allowed clinicians to adjust ventilator settings outside the ICU.
Despite the pandemic, Medtronic received regulatory approval for more than 200 devices in 2020, including four that received “breakthrough” status from the FDA.
“Medtronic was founded by an engineer and we are first and foremost a technology company,” Martha said. “Innovators are the lifeblood of Medtronic. Innovating is how we fulfill our Mission to alleviate pain, restore health and extend life. Our shared future depends on companies that innovate not just boldly, but with integrity. Medtronic has always been, and will always be, that company.”
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