September 3, 2008

International Diplomatic Contingent Visits Medtronic

This morning, more than 50 members of the Foreign Diplomatic Corps, including 36 Ambassadors from around the world, participated in a business networking event at Medtronic, Inc. (NYSE: MDT), the world's leading medical device technology company.

Sponsored by the Minnesota Trade Office, Minnesota Business Partnership and Minnesota Chamber of Commerce, the event brought together CEOs and other leaders from nearly 30 of Minnesota's most recognizable corporations to dialogue with the diplomatic corps, composed of those who run their nation's embassies in Washington, D.C.

In opening remarks, Bill Hawkins, Medtronic chairman and CEO, offered these insights: "The pursuit of health transcends national boundaries and political systems. We can also appreciate the irrefutable link between health and prosperity for all countries. Most healthcare systems are under pressure, with budgets capped and focused on short-term cost containment, rather than initiatives that will generate greater value for healthcare systems and patients.

"For some nations, as in Latin America, Eastern and Western Europe, chronic diseases - heart disease, diabetes and neurological disorders - are the predominant challenges," added Hawkins. "However, some nations still suffer what many term the 'double burden of disease,' - the tide of rapidly increasing chronic disease in nations already decimated by infectious disease. It should be in the interest of all nations to foresee and be prepared for the societal impacts of an aging population and associated increase in care and therapy needed to care for these chronically ill individuals."

The business networking opportunity concluded with a tour of Medtronic's newest facility based in Mounds View, Minn.

About Medtronic

Medtronic, Inc. (, headquartered in Minneapolis, is the global leader in medical technology - alleviating pain, restoring health, and extending life for millions of people around the world.