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Medtronic cutting 220 jobs in Mounds View

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.
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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.

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Medtronic cutting 1,000 jobs despite growing profits

The Fridley-based medical device maker plans to eliminate positions in facilities around the globe, including 220 positions at its Mounds View-based division. Medtronic topped expectations in the fourth quarter, but continues to struggle with the sale of heart rhythm devices as well as devices used in spine surgery.

Medtronic to pay $23.5 million to settle kickback charge

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.

Medical alert issued for Medtronic's Entrust defibrillators

British regulators warn the device has a battery defect that can fail to properly shock a heart back into a normal rhythm. Patients are encouraged to see their cardiologists to ensure an audible "low-battery" alert is working properly. Fridley-based Medtronic denied any wrong doing, but settled lawsuits regarding battery issues in its Marquis line of defibrillators less than four years ago.

More and deeper job cuts at St. Jude Medical

The medical device maker plans another 500 job cuts, with about 100 of them in Minnesota. That follows an August round of layoffs that trimmed eighty jobs in the state. Sagging sales of defibrillators, pacemakers, and other heart rhythm devices have squeezed St. Jude and others in the industry.

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Medtronic says it is evaluating its next step after a court rejected the company's appeal of a $74 million patent infringement ruling. The ruling could eventually force Medtronic to stop making one of its heart valves if a competitor - Edwards Lifesciences - seeks an injunction.

CEO: Medtronic's focus paying off

After a solid last year and last quarter, Medtronic Inc. CEO Omar Ishrak is reiterating that his company's commitment is to growth through globalization, innovation and enhancing value, not just creating new medical technology products. It's what Ishrak has consistently preached in the year-plus since he took the helm at the world's largest medical device company.

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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.