Medtronic Combines Cardiac, Vascular Sales Groups
Medtronic, Inc., will bring together its cardiac and vascular sales divisions to form a single entity, the Fridley-based medical device maker announced on Thursday.
The 2,700-employee unified sales unit will be led by David Roberts, formerly vice president of sales for Medtronic's cardiac rhythm disease management business. The change will take effect May 1-the start of the company's fiscal year.
As hospital administrators are increasingly involved in purchasing decisions, Medtronic said its new market strategy reflects how large hospital systems are choosing devices. Cardiac- and vascular-focused hospital administrators are typically responsible for making device selections across the full cardiovascular spectrum, according to the company.
While reporting to the new national sales organization, the direct sales representatives will preserve their traditional business unit focus and expertise, the company said.
Additionally, the company has created a strategic account management team that will report to the new sales organization in an effort to tackle the growing challenges faced by cardiac and vascular hospital administrators. The team will augment the work of the traditional sales representatives by focusing exclusively on a cross-business portfolio of products and services to hospital administrators.
“Our strategy going forward is to leverage Medtronic's breadth of talent, technologies, products, and services across our 15 market segments to help hospital administrators address their unmet needs, while maintaining and strengthening our ability to serve clinicians and their patients,” Michael Coyle, executive vice president and group president of the cardiac and vascular group of businesses, said in a statement. “This new leadership strategy and structure uniquely positions Medtronic as the only medical device company capable of doing both.”
The company's cardiac and vascular group comprises the following businesses: cardiac rhythm disease management, structural heart, endovascular innovations, peripheral, coronary, renal denervation, and physio-control. All of these businesses-except physio-control, which Medtronic plans to divest-will be included in the new structure.
Medtronic is the state's seventh largest public company based on revenue, which totaled $15.8 billion in its most recently completed fiscal year.