The recent strategy and layout of Medtronic and Medtronic
Mid-Day Medtronic: In 1949, Medtronic was founded by Palmer J. Hermundslie and E. Bakken. Like many American start-ups, Medtronic started from the garage, and I think many of you have the same experience. At the time, the company's initial purpose was very simple, that is, how to improve clinical efficiency through medical technology. This goal has become the philosophy that Medtronic has consistently adhered to throughout the life, helping patients to reduce their pain, restore health and prolong their lives through biomedical engineering.
To date, after more than 60 years of development and a series of strategic acquisitions, Medtronic has become the world's leading medical technology company. Our global business is divided into four sections: The first is the cardiovascular business group, which is our housekeeping skills. The second is our acquisition of Kehui Medical's minimally invasive therapy business group, which is mainly responsible for surgical surgery. The third is the restorative therapy business, mainly orthopedics and neurosurgery. The fourth is the Diabetes Business Group.
Medtronic is divided into four regions in the world. Although Greater China is the smallest region in terms of business scale, it is indeed the most important market, so we list it separately as an independent region.
Medtronic's situation in China: Our total revenue in China is almost 1.5 billion US dollars. We have two R&D centers in China, a total of more than 300 engineers and two production bases. We have made a series of joint ventures and acquisitions. . We have 4,000 employees, mainly technical sales staff, who are responsible for serving our doctors and departments.
Although Medtronic is now the world's leading large-scale medical technology company, we still hope to not forget the original intention, and hope to retain the same initial intention in the beginning of 1949, that is, through our technology to continuously improve medical care. What opportunities and challenges are encountered in today's medical market? We have summarized a few points:
First, the government encourages innovation. This is a major principle of “Made in China 2025†and it is a very good thing to have a green channel to help local innovative companies.
Second, we help to improve the cure rate, cover major diseases, and control the cost of medical care.
On the last hand, the entire medical reform. Improve clinical outcomes through the establishment of private hospitals, patient referrals, and management of chronic diseases.
This demand is not much different from other countries, so whether it is a start-up, a private enterprise or a foreign company, it means that we must do a few things.
The first thing is also Medtronic's long-term investment in clinical education. We continue to break down some market barriers through doctor training and patient education, and can develop the market and increase the accessibility of the therapy.
Second, for foreign companies, we put our valuable industrial chain in China and truly develop products suitable for the Chinese market around the needs of patients, clinics and doctors in China.
Third, China needs to have its own innovative position in the global market, constantly develop products that are suitable for the market, and at the same time be able to subvert mature countries.
Finally, it may be our most important point. The consideration of economic value is not only to provide a product, but also to provide value to the government, patients and doctors, to reduce the overall medical cost and improve its efficiency.
I personally think that this is a very good time for all entrepreneurs, that is to say, we have the opportunity to change the medical care through our strength and make the medical care more perfect.
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