TriplePundit and 3BL Media will feature Medtronic CEO Geoff Martha on June 16, 2:00 p.m. ET (11:00 a.m. PT), as part of the “Learn From Home” live event series.
Be sure you join 3p’s senior editor Mary Mazzoni for “Stories & Strategies for Putting People First,” a live interview with the new leader of one of the world’s largest medical technology companies, with 90,000 employees in 150 countries. Register here.
“Geoff Martha took the reins of Medtronic in April during the first wave of the COVID-19 pandemic and demonstrated bold ESG leadership immediately,” said Dave Armon, CEO of 3BL Media. “We are honored to welcome Geoff as he shares the story with Mary Mazzoni and a live audience.”
In March, Medtronic took the unprecedented step to publicly share the design specifications for its PB560 ventilator, an affordable and portable ventilator that can be used in clinical settings and at home, as part of the company’s efforts to enable rapid manufacturing by other companies.
Since that announcement, reactions by both the public and private sectors were swift. Foxconn soon disclosed that it would pivot manufacturing operations at its Wisconsin plant to assemble ventilators in a partnership with Medtronic. In addition, the U.S. Food and Drug Administration (FDA) had reportedly approved the company’s effort to market the PB560. To give a frame of reference, the cost for most ventilators on the market can run anywhere from $25,000 to $50,000. The PB560 is priced under $10,000.
Other ventilator manufacturers also shifted focus in order to meet surging global demand. Philips, for example, said it had made a deal with the White House to make up to 43,000 ventilators. GM and Ventec finalized a deal to manufacture 30,000 ventilators at a cost of almost a half billion dollars. The German healthcare device manufacturer Draeger announced this spring that it would try to move workers around and add shifts so it could help meet demand. And GE workers have been vocal about their desire to shift gears so that the company’s healthcare division can ramp up production of these devices.
But as of today, Medtronic stands apart for its decision to make one of its models available for licensing without a fee.
Martha and Mazzoni will discuss how Medtronic has shared technology, worked even closer with partners, and ensured the safety of its global workforce during the pandemic. Live Q&A will follow the interview. Professionals working in corporate responsibility, ESG, sustainability, communications, investor relations, marketing and other senior leadership roles are invited to attend.
Image credit: Medtronic/3BL Media