The federal class action suit was filed by the Minneapolis Firefighters Relief Association in 2008. It accused the Fridley-based medical device maker of making misleading or false statements about the company's Infuse spine surgery device. Medtronic denies any wrongdoing.

Some academic leaders at the university are questioning whether chairman Thomas Zdeblick can serve objectively after collecting tens of millions of dollars from Medtronic, a major medical device maker based in Minnesota. The Journal Sentinel reports UW Hospital has spent $27 million on Medtronic products between 2004 and 2010.

The Justice Department alleged that Medtronic funneled money to doctors who implanted pacemakers or defibrillators made by the company. A spokesman says Medtronic admits no wrongdoing in the settlement.

A respected Indian business publication is reporting that Medtronic is negotiating with an Indian medical technology company to make a strategic investment in it. Trivitron Healthcare is reportedly India’s largest med tech company. The Fridley-based company has not commented specifically on the deal, however, CEO Omar Ishrak has made no secrets about his interest in India.

Medtronic is eliminating jobs at the Mounds View facility that makes heart rhythm devices. Sales of the company's pacemakers and implantable defibrillators have been sluggish for years.

Omar Ishrak says he wants the next generation of pacemakers to be five to ten times cheaper than those of today. He says that would allow sales in poor countries of Latin America, Asia and Africa.

Fridley-based Medtronic will be getting $17 million over the next three years for an initiative aimed at stabilizing blood sugar levels in diabetics. The medical technology company announced Friday that they are getting the money from the Juvenile Diabetes Research Foundation and the Helmsley Charitable Trust to improve existing and develop new artificial pancreas technology.