Business week has reported the content of a telephone interview with Medtronic CFO Gary Ellis in which he asserts that the company has plans to make savings of $1.2billion on top of the $1billion already on the way to being achieved. The report can be found here.
What does this mean for Medtronic’s International audience? Well, who knows, but what is true is that International sales now represent 44% of its revenues and continue to be a success story for the company with growth across all product groups and as reported in the most recently aired quarterly figures.
“Medtronic is making everything from logistics and shipping to sales more efficient, paving the way for pricing that will enable it to penetrate emerging markets where costs need to be even lower,” Chief Executive Officer Omar Ishrak said.
So another company looking for growth outside US and outside Europe.
Source: Bloomberg BusinessWeek, medlatest staff.