Medtronic (NYSE:MDT) today releaed its 2015 integrated performance report, highlighting higher patient acquisition rates after its Covidien buy and its $1.64 billion investment in research & development.
Since its purchase of Covidien, Medtronic said it has expanded the number of patients who use its devices and therapies to 2 per second.
“That’s a key reason we acquired Covidien — to expand our breadth to treat more people for more diseases, no matter where they are located, more efficiently than ever before. Our future promises even greater social impact. Due to the timing of this acquisition late in our fiscal year, however, the data in this report excludes Covidien’s operations, except where noted,” the report said.
Medtronic highlighted the $1.64 billion it invested in R&D, 8.1% of its total sales, saying the funds included “new ways of addressing health problems in emerging markets such as China and India.”
The medical giant said it spent more than $47.6 million in 2015 in employee training and development programs, as well as more than $108 million in training over 50,000 medical professionals worldwide.
Nearly $90 million was invested through Medtronic’s philanthropic contributions, and the company said it is making progress towards its 2020 environmental performance goals to cut carbon dioxide emissions and water use by 7% and non-regulated waste by 5%.
“Our financial health is increasingly linked to our social commitments and environmental performance. We have a unique opportunity to extend our mission as we integrate Covidien and leverage the leading practices from both companies. By continually challenging ourselves — to advance the limits of technology as well as our thinking — we can lead a transition to value-based healthcare and increase access to care around the world,” CEO Omar Ishrak wrote in the report.
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