Competition doesn’t deter Brett Wall, Medtronic senior vice president and president of Medtronic Brain Therapies. Rather, he says, other companies push his team to do better.
Some of those competing companies will go after medical conditions outside Medtronic’s portfolio. “That part of the ecosystem is very important,” says Wall. Competition keeps companies from complacency and helps Medtronic penetrate more diseases. It also helps grow the market faster, which Wall believes will make Medtronic better in the long run.
Medtronic is open and willing to have conversations with other companies. The medical device giant has invested in several firms and acquired others. It has also helped companies with their technology. “There are multiple ways we can engage with companies, and we want to do that,” Wall explains.
Meanwhile, Wall says Medtronic is seeing significant investment across its whole portfolio, calling it a “very rich field right now.” And he notes that research released in 2015 is bearing fruit in practical applications.