Medtronic Chairman & CEO unveils bold vision for the future of healthcare

MedTech & Diagnostics News: Taking centre stage in a captivating podcast, global Chairman & CEO of Medtronic, Geoff Martha, sheds light on his recent visit to Australia to celebrate Medtronic’s 50th anniversary in the country.

The interview explores the multifaceted aspects of Medtronic’s business performance, including its social impact initiatives and sustainability goals. Delving deeper, Martha who leads the $32 billion medtech company and its 95,000 employees, addresses the challenges faced by the medical technology sector and reveals the key trends shaping the future of healthcare.

The interview kicks off with Martha sharing key highlights from Medtronic’s full-year financial results and the current issues in the medtech sector.

He acknowledges the importance of Australia as a market for Medtronic and the significant impact that Medtronic ANZ has had on the local healthcare ecosystem. He said “It’s a big market and an important part of our innovation ecosystem for medtech.”

He highlights the potential of technology, particularly AI, to drive meaningful change in healthcare. He states, “I really believe that technology is the way forward to solve these issues. AI can help solve access issues, improve outcomes, and personalise healthcare.” He also stresses the need for collaboration with key stakeholders and safeguarding data for the ethical use of technology.

Martha calls on policymakers to invest time in understanding the health economics of innovative medical technologies. He emphasises that viewing these innovations as costs is a misconception; they are investments with favourable health economics. He invites policymakers to engage with the medtech sector, listen to the data-driven insights, and collaborate to ensure timely access to novel health technologies for patients.

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