Geoff Martha, executive vice president, Restorative Therapies Group, shares Medtronic’s view of Medtech. In this interview with Stacy Enxing Seng, venture partner/independent director, Martha lays out the Medtech giant’s strategy to grow a technology business while helping health care systems save money.
Geoff Martha, Executive Vice President, Restorative Therapies Group – Medtronic
Stacy Enxing Seng, Venture Partner/Independent Director – Lightstone Ventures
Stacy Enxing Seng
Stacy currently serves as a Venture Partner with Lightstone Ventures as well as an Independent Director for both public and venture-backed private companies.
Geoff Martha was named Executive Vice President and Group President for the Restorative Therapies Group in June, 2015, and is a member of the Company’s Executive Committee.
00:15 – The Minnesota Medtech Conference?
00:40 – How did role at GE help at Medtronic?
02:00 – Meeting Omar Ishrak.
03:32 – How does Medtronic want to transform health care?
05:55 – Therapy innovation is the foundation of Medtronic’s globalization and value-based care efforts.
06:30 – If we don’t have the best portfolio of products we’re not going to get a seat at the table.
06:35 – How are you looking at acquisition?
09:00 – The potential for risk-sharing relationships with payers.
11:00 – No one company can transform health care.
12:00 – What is Further Together?
12:50 – Medtronic’s deal with the Russian government.
13:30 – Who are Medtronic’s competitors?
14:45 – What does a P&L leader do?
15:40 – We want to play big and play small, function as a start-up but offer the breadth of a larger company.
17:00 – Is services a defensive strategy or a moneymaker?
18:40 – We’re squeezing 10 hours of work into an eight-hour day.
20:20 – Where does social media and the consumer fit into Medtronic’s approach?
21:20 – For Medtronic, consumerism is a big deal.
22:10 – We are making a lot of investment in companies that have consumer-based business models that we would like to learn from.
24:40 – What are the top three things you’re excited about? What are the traps and pitfalls?
25:00 – The minute you take your eye off the ball in core businesses and technologies is the minute everything crumbles.
25:40 – He’s excited about the potential for value-based care.