Life Science News

"Engineering impact" highlights the Company's progress toward health equity, workforce diversity and net zero emissions

Medtronic plc today released its fiscal year (FY) 2022 Integrated Performance Report: Engineering impact. The report highlights the Company's progress on its ESG strategy, including measurable impact across patient access and equity; life-transforming healthcare technology; inclusion, diversity and equity (ID&E) and environmental sustainability.

"The Medtronic Mission — to alleviate pain, restore health and extend life — unites our diverse team of more than 95,000 people whose work transforms the lives of two people every second. And despite the global challenges faced over the past year, we maintained our steadfast commitment to carrying out the Mission and increasing our environmental, social and governance efforts.

-Geoff Martha, Chairman and CEO, Medtronic

Key ESG accomplishments in FY22

Patient access and equity : Medtronic remained focused on advancing healthcare equity and expanding access to its lifesaving products and therapies. In FY22, the Company:

  • Established a Health Equity Advisory Committee (HEAC) in the United States to share best practices and collaborate with others to address health equity, accelerate access and remove structural and social barriers to quality care.
  • Invested more than $69 million in healthcare training for over 350,000 global medical professionals, enabling increased access to quality care in these communities.

Life-transforming healthcare technology: Medtronic furthered its position as a healthcare technology leader, leveraging patient-first innovations that personalize healthcare and promote positive outcomes. In FY22, the Company:

  • Invested $2.7 billion in research and development, a 10% increase over FY21.
  • Received more than 200 regulatory approvals in major geographies, paving the way for advanced innovation and care.

Inclusion, diversity and equity : Groundbreaking innovation comes from an inclusive, diverse and equitable workforce. In FY22, the Company:

  • Tied 15% of annual incentive compensation for senior executives 1 to performance against ID&E objectives.
  • Made progress toward its diversity goals with 42% of manager-and-above roles globally held by women and 27% of manager-and-above roles in the United States held by people from ethnically diverse groups, on track to meet FY26 targets of 45% and 30%, respectively.

Environmental sustainability: The Company made strong progress toward its FY45 ambition to achieve net zero emissions. In FY22, the Company:

  • Reduced greenhouse gas emissions intensity 35% compared to a FY20 baseline.
  • Saved 16,500 MWh of energy through energy efficiency projects, lowering operating costs by $2.9 million .
  • Continued to pursue Scope 3 emissions reductions through science-based targets, collaboration with suppliers, packaging innovations and more.

The 2022 Integrated Performance Report, as well as other ESG updates, are available on the Medtronic website .

About Medtronic:
Bold thinking. Bolder actions. We are Medtronic. Medtronic plc, headquartered in Dublin, Ireland , is the leading global healthcare technology company that boldly attacks the most challenging health problems facing humanity by searching out and finding solutions. Our Mission — to alleviate pain, restore health and extend life — unites a global team of 95,000+ passionate people across 150 countries. Our technologies and therapies treat 70 health conditions and include cardiac devices, surgical robotics, insulin pumps, surgical tools, patient monitoring systems and more. Powered by our diverse knowledge, insatiable curiosity and desire to help all those who need it, we deliver innovative technologies that transform the lives of two people every second, every hour, every day. Expect more from us as we empower insight-driven care, experiences that put people first and better outcomes for our world. In everything we do, we are engineering the extraordinary. For more information on Medtronic (NYSE: MDT), visit www.Medtronic.com and follow @Medtronic on Twitter and LinkedIn.

1 This includes our C-suite and their direct reports, including 160 leaders at the vice president level and above.

Contact:
Erika Winkels
Public Relations
+1-763-526-8478

Ryan Weispfenning
Investor Relations
+1-763-505-4626

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/medtronic-releases-2022-integrated-performance-report-301645186.html

SOURCE Medtronic plc

Cision View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2022/11/c2008.html

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For more information, please view the InvestmentPitch Media "video" which provides additional information about this news and the company, along with comments from Robert Kaul, CEO of Cloud DX, about the significance of this news. If this link is not enabled, please visit www.InvestmentPitch.com and enter "Cloud DX" in the search box.

This partnership advances Medtronic's commitment to improving patient outcomes and lowering overall costs along the care continuum. Medtronic Canada delivers care in a broad range of clinical areas, including spinal and cardiac surgeries, cardiology, critical care, diabetes, vascular and renal care. Most clinical areas are expected to improve patient outcomes and satisfaction with some aspect of virtual care in the future.

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The shares are trading at $0.195. For more information, please visit the company's corporate website www.CloudDX.com, and the company's investor relation site ir.CloudDX.com/overview/default.aspx, contact Jay Bedard, Investor Relations, at 647-881-8418 or by email at jay.bedard@CloudDX.com.

About InvestmentPitch Media

Investmentpitch Media leverages the power of video, which together with its extensive distribution, positions a company's story ahead of the 1,000's of companies seeking awareness and funding from the financial community. The company specializes in producing short videos based on significant news releases, research reports and other content of interest to investors.

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