Medtronic CFO: We'll strip another $1.2B in costs over 5 years
November 28, 2011 by MassDevice staff
Medtronic CFO Gary Ellis tells BusinessWeek that the company will look to shave $1.2 billion in costs over the next five years, on top of the $1 billion in cuts it's just winding up now.
Medtronic (NYSE:MDT) CFO Gary Ellis said the world's largest pure-play device maker plans to shave at least $1.2 billion in costs from its operations, even as the company closes out a five-year, $1 billion initiative that lowered its expenses by 25 percent.
Ellis said the new initiative is aimed at slashing another 25 percent from the budget, which could lead to as much as $1.3 billion in savings, Ellis told BusinessWeek.
- Login to post comments
-
Permalink
RECENT BLOG POSTS
- Rising healthcare costs not directly tied to medical technology, according to study
- CareFusion may be weighing 2 very different deals
- Medical Devices: What does it really mean to be disruptive?
- Smarter strategic moves bode well for Wright Medical
- The IRS, NSA, and Justice Department scandals and what they mean for HIPAA
- A Father's Day remembrance
- What I'd tell the graduating medical school class of 2013
- Silencing immune attacks in type 1 diabetes
- Eucomed guidance clarifies RoHS compliance for medical device companies
- How to simplify consents
Navigation
NEWS
J&J's Synthes unit wins $16M ruling in patent fight with Globus Medical
A Delaware jury sides with Johnson & Johnson's DePuy-Synthes subsidiary in a patent spat over 3...
Aneurysm: Covidien touts pivotal study on Pipeline embolization device
Results of pivotal study on Covidien subsidiary eV3's Pipeline cerebral aneurysm device, published in...
ForSight Vision5 gets new CEO, closes $9.3M funding round
Delphi Ventures' John Maroney joins ForSight Vision5 as president, CEO & Director as the...
Diabetes: Echo Therapeutics sends pre-submission package to FDA for Symphony needle-free CGM
Echo Therapeutics initiates discussions with the FDA on the regulatory pathway for its Symphony non-...
Real-world results cast doubt on renal denervation for high blood pressure
Study results revealed in Europe this week cast doubt on the efficacy of renal denervation for...
