Medtronic reorganization
This article was originally published in The Gray Sheet
Executive Summary
Firm combines its vascular and cardiac surgery businesses on April 11 to support "the convergence of cardiovascular specialties focused on applying both surgical and minimally invasive approaches to patient care," says Scott Ward, head of the new business. The new entity, Medtronic CardioVascular, will focus on devices that treat coronary artery, vascular and structural heart diseases. Combined revenue will approximate $1.9 billion in 2007. The restructuring may cause a "modest" reduction in jobs, the firm says, but it does not plan facility changes...