Medtronic Outlines Future Growth Vision at Investor Day
June 06 2016 - 3:30PM
DUBLIN and NEW YORK CITY - June
6, 2016 - Medtronic plc (NYSE: MDT), the global leader in
medical technology, shared during its Investor Day today in New
York City an overview of the company's position as a global
healthcare leader with differentiated platforms to deliver
attractive shareholder value, as well as its strategies for future
growth. Chairman and CEO Omar Ishrak reiterated Medtronic's
opportunity to address universal healthcare needs by improving
clinical outcomes, expanding access, and optimizing cost and
efficiency. He also highlighted the company's focus on new product
innovation and extending its thought leadership in value-based
healthcare.
"Our organization is in a unique position to drive
consistent revenue growth with an unmatched pipeline in attractive,
diversified healthcare markets across the globe as we execute on a
broad, sustainable platform," said Ishrak. "Our three
differentiated strategies - therapy innovation, globalization, and
economic value - consistently allow us to generate strong, balanced
growth by capitalizing on our robust innovation pipeline,
geographic reach, and innovative new healthcare business
models."
The management team across Medtronic's business
groups highlighted the company's focus on therapy innovation and
strong cadence of product launches. The business group leaders were
joined by Medtronic's geographic region leaders to highlight the
company's efforts in globalization and economic value.
Ishrak also reaffirmed a focus on improving
profitability and a commitment to responsibly employing capital to
ensure future growth for the company and for shareholders. "We are
utilizing systems and structure at scale to drive margin expansion.
The combination of strong revenue growth and high profitability
generates significant and increasingly accessible free cash flow,
allowing our company to deploy massive amounts of capital
strategically, consistently, and with discipline."
The company outlined its expectation to deliver
approximately $40 billion in free cash flow over the next five
years.
"As an organization, we are committed to
delivering consistent, double-digit, constant currency EPS growth,
which we believe will result in total shareholder return in the
low-double digit to mid-teens range," said Ishrak. "We believe that
Medtronic can play a leadership role in delivering meaningful
solutions that can lead to better outcomes for patients, while
improving overall healthcare system performance, as well as
generating strong returns for our shareholders."
An archived webcast of Medtronic's 2016 Investor
Day will be available by clicking on the Investor Events link at
http://investorrealtions.medtronic.com later today.
About Medtronic
Medtronic plc (www.medtronic.com), headquartered in Dublin,
Ireland, is among the world's largest medical technology, services
and solutions companies - alleviating pain, restoring health and
extending life for millions of people around the world. Medtronic
employs more than 85,000 people worldwide, serving physicians,
hospitals and patients in approximately 160 countries. The company
is focused on collaborating with stakeholders around the world to
take healthcare Further, Together.
Any forward-looking statements
are subject to risks and uncertainties such as those described in
Medtronic's periodic reports on file with the Securities and
Exchange Commission. Actual results may differ materially from
anticipated results.
-end-
Contacts:
Fernando Vivanco
Public Relations
+1-763-505-3780
Ryan Weispfenning
Investor Relations
+1-763-505-4626
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Medtronic plc via Globenewswire
HUG#2018379
Medtronic (NYSE:MDT)
Historical Stock Chart
From Mar 2024 to Apr 2024
Medtronic (NYSE:MDT)
Historical Stock Chart
From Apr 2023 to Apr 2024