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Medtronic operational headquarters in Fridley, Minnesota, a suburb of Minneapolis. Medtronic was founded in 1949 in Minneapolis by Earl Bakken and his brother-in-law, Palmer Hermundslie, as a medical equipment repair shop. [8] Bakken invented several medical technology devices that continue to be used around the world today. [citation needed]
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Medtronic at the time had 65% of the artificial pacemaker market. CPI was the first spin-off from Medtronic. It competition using the world's first lithium-powered pacemaker. Medtronic's market share plummeted to 35%. [4] [5] Founding partners Anthony Adducci, Manny Villafaña, Jim Baustert, and Art Schwalm, were former Medtronic employees ...
Arthur D. Collins Jr. is an American executive, the retired chairman of the board of Medtronic, Inc., and formerly served the company as president and chief executive officer. [1] He is now a senior advisor to Oak Hill Capital Partners [ 2 ] and a managing partner at Acorn Advisors, LLC. [ 3 ]
[1] [2] In 1989, he joined Medtronic as president and chief operating officer. [1] [2] He was elected chief executive officer in 1991 and chairman of the board in 1996. [1] [2] He was a professor at the Harvard Business School in Boston from 2004 to 2016 and is currently a senior fellow.
Rebecca M. Bergman is an American chemical engineer and the 17th President [1] of Gustavus Adolphus College in St. Peter, Minnesota.She began her term in July 2014, and is the first woman to serve as President of the college, which was founded in 1862.
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Bakken retired from Medtronic in 1989 and moved to a 9-acre estate in the Kona District of Hawaii he called Bakken Hale, [6] but still returned to the company several times a year to meet new employees and explain the Medtronic Mission to them in person.