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Medtronic Plc

Renova Group of Companies and Medtronic plc have closed a deal to create Stentex, a joint venture, which will produce coronary stents and catheters in Skolkovo. As reported by Renova GC, it will be the Russian largest research and production complex for the manufacture of coronary stents and catheters by transfer of global technologies of Medtronic, which is the leading company in this field.

The full capacity of the plant will allow to provide more than 170 thousand stenting operations with its products annually and will create 700 skilled jobs. The scope of investment in the project is approximately 9 billion rubles.

01 June 2016
TASS
Investor
138.0 mln
Moscow Region

Investor profile

Medtronic Plc

USA

Company's website: www.medtronic.com

T: (800) 633-8766

Public company

Contact: Omar Ishrak, Chairman of the Board of Directors, Director General

Medtronic is the world’s third largest manufacturer of medical equipment and devices in terms of revenue after Johnson & Johnson and GE Healthcare (according to Congressional Research Service for 2015). In 2015, its revenue was $20.3 billion.

The company specializes in technology in four health areas: cardiovascular diseases, minimally invasive therapy, rehabilitation therapy and diabetes. Solutions in the field of cardiovascular diseases is the main business of Medtronic in terms of revenue: in 2015 fiscal year, the revenue was $9.4 billion, which is 46% of the global revenues. In 2015, Medronic’s investments in R&D amounted to $1.64 billion (8.1% of the revenue).

As at 1 June 2016, Medtronic’s capitalization was $114.45 billion.

According to its own data, the company has been operating in the Russian market from the beginning of the 1990s, the Russian representative office was opened in 2003.

The company was founded in 1949 in Minneapolis (Minnesota, USA), but now it is headquartered in Dublin (Ireland). The total number of employees in different regions of the world is more than 85 thousand worker.

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