In addition to the traditional marketing path, Medtronic, the world's largest medical device company, chose to cooperate with China's domestic mobile medical platform for the first time.
Annette Bruls, global vice president of Medtronic Diabetes Business Group, told First Financial News that Medtronic is concerned about the opportunities offered by mobile healthcare innovation on a global scale.
Recently, Medtronic (NYSE: MDT) and China's local diabetes management platform, Micro Sugar, announced a strategic partnership to promote insulin pump therapy in the field of diabetes mobile medicine.
As the world's largest medical device company, Medtronic's fiscal year 2015 (April 25, 2014 to April 24, 2015) revenue of $20.261 billion, the first three quarters of fiscal 2016 (as of January 29, 2016) It received $21.66 billion and is expected to exceed $27 billion for the full year.
Annette Bruls said that Medtronic has been involved in many mobile medical fields around the world. For example, in the United States and IBM's artificial intelligence business unit to cooperate, provide diabetes big data analysis cooperation, and Glooko company to collaborate on diabetes data integration. In 2013, Medtronic spent $200 million to acquire Cardiocom, a provider of remote heart disease management and patient care services.
Annette Bruls said that the development of mobile healthcare is a major focus in all countries and regions around the world, especially in the management of chronic diseases. Mobile medical and medical big data can help patients manage their disease self-management, and can help governments and medical institutions to prevent and manage remotely and reduce treatment costs.
“Either in China, the United States, and Europe, everyone is looking for solutions in big data medical management. We have already seen this as a very important trend. If we can cooperate with our therapy, it is a good market. Annette Bruls told reporters.
In China alone, as of now, at least 260 million people in China suffer from chronic diseases, and the disease burden accounts for 70% of the total disease burden. Diabetes is a chronic disease, and China has the world's largest group of people with diabetes – 420 million people with diabetes worldwide and 110 million people with diabetes in China.
Diabetes is one of Medtronic's business segments, and as such, China is an important market segment for Medtronic.
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