Medtronic has been recognised as one of Australia and New Zealand’s most innovative health companies.
The company was recognised at last weel's AFR BOSS Most Innovative Companies awards. The list was judged by a panel of experts assembled by The Australian Financial Review and innovation consulting firm Inventium.
Organisations are assessed based on how valuable the problem a specific innovation is solving, its quality and uniqueness, and the level of impact that the innovation has had. Inventium also assesses an organisation's innovation culture, strategy, resources and process.
The 2019 list was the first time companies were ranked by sector.
Medtronic was ranked third behind Sydney-based cancer company EnGeneIC and digital diagnostic company Ellume. Other health companies to make the top ten included AbbVie and Novartis.
The company was recognised for its MiniMed 670G system launched in early 2019 – an insulin pump system that automatically self-adjusts to deliver people living with type 1 diabetes precise amounts of insulin when they need it.
It was also recognised for fostering a strong internal culture of innovation and for supporting local medical technology incubators and STEM initiatives with local schools and universities.
“Since 1949, meaningful innovation has been etched into everything we do. This spirit of innovation is evidenced in our technologies, and the way we show up to work every day to improve community health outcomes,” said Tim Fortin, vice president and managing director of Medtronic Australasia.
“Globally our therapies help more than two people every second, delivering on our Mission to alleviate pain, restore health, and extend life. At Medtronic, we believe patient-focused innovation – and strong partnerships – remain key to an even better, more impactful future; and that nurturing an innovation mindset supports our team to operate at the highest standards when challenging the status quo to go beyond medical devices to deliver and deliver better outcomes to more patients more efficiently.”