North Bay Business Journal

Medtronic CardioVascular first-quarter revenue grows 17 percent

SANTA ROSA –Medtronic’s Cardiac and Vascular Group, which includes the Santa Rosa-based CardioVascular division, today reported sales in the first quarter of fiscal 2012 of $2.21 billion, an increase of 3 percent.

Group revenues were $850 million, an increase of 11 percent when adjusted for foreign currency, according to the company. The CardioVascular division had $575 million in sales for the first quarter ended July 29, an increase of nearly 17 percent from $493 million for the same timeframe last year.

Algebra academies inspired by chamber leader are expanding

SANTA ROSA – The Santa Rosa Chamber of Commerce is kicking off another session of the Mike Hauser Algebra Academy—and is helping other cities have their own programs.

Medtronic CardioVascular revenue increases 16 percent in fiscal 2011

SANTA ROSA — Medtronic’s Santa Rosa-based CardioVascular division today reported fiscal 2011 revenue increased 16 percent from the previous year to $879 million.

Memorial implants MRI-safe Medtronic pacemaker

SANTA ROSA — Santa Rosa Memorial Hospital last week implanted an MRI-safe pacemaker into a patient, making it the first hospital north of the Golden Gate Bridge to do so, according to the hospital and the medical device maker.

Medtronic CardioVascular revenue increases 8 percent; company plans job cuts

SANTA ROSA — Third-quarter revenue for Medtronic Inc.’s Santa Rosa-based CardioVascular business grew 7 percent to 8 percent, and total company revenue increased 3 percent. However, Medtronic today announced plans to trim its total workforce by 1,500 to 2,000 positions, or by 4 percent to 5 percent, to “align its cost structure to current market conditions and continue to position Medtronic for long-term sustainable growth.”

Wellness programs draw more interest

SANTA ROSA – Growing numbers of employers of all sizes in the North Bay are embracing wellness programs for their employees. A recent survey of commercial insurance carriers by the Business Journal revealed a common theme of business clients seeking information or actively developing wellness programs both to manage employee health care costs and prepare for the impact of health care reform.

Medtronic completes Ardian acquisition

Medtronic Inc. (NYSE: MDT), which operates Medtronic CardioVascular in Santa Rosa, completed the acquisition of privately-held Ardian Inc. for a purchase price of $800 million in cash up front, plus additional cash payments equal to annual revenue growth through the end of Medtronic’s fiscal year 2015.

D.J. Grey sees shift from overseas to local suppliers

HEALDSBURG – Small makers of custom electronics components who struggled through the downturn are benefitting from an uptick in the electronics manufacturing industry.

Medtronic to install solar

SANTA ROSA — Medtronic CardioVascular will install a $1.2 million solar array at its Fountaingrove campus, the company announced today.

The 324-kilowatt system, scheduled to be completed by next summer, is expected to reduce the electrical demand of Medtronic’s largest Santa Rosa facility by 40 percent at peak hours and realize net savings of approximately $1.8 million over 20 years.

Medtronic reports record quarter; CardioVascular strong

SANTA ROSA — Medtronic Inc. announced an 8 percent jump in revenues for the fiscal year and a record $4 billion in sales for the fourth quarter. The CardioVascular segment in Santa Rosa reported both fourth quarter and yearly revenues up 18 percent.

TriVascular trials progress in Europe

SANTA ROSA — TriVascular’s abdominal stent graft is showing solid results in European clinical trials, well on its way to holding a leading position in a predicted $2 billion global market.

Medtronic acquires European cardiovascular technology

SANTA ROSA — Medtronic CardioVascular announced today that its parent company, Medtronic Inc., will acquire a developer of medical technologies for the interventional treatment of cardiovascular disease and two affiliated companies for $350 million.

Medtronic revenues up, earnings decline

SANTA ROSA — Medtronic Inc. announced today first quarter revenues of $3.933 billion, 6 percent above the same quarter last year.

Net earnings were $445 million, or $0.40 per diluted share, down 38 percent from the same period last year.

Health Action set to unveil worksite wellness program

SONOMA COUNTY – Employers will soon be invited to participate in a region-wide worksite wellness initiative that seeks to improve the health of the local work force as well as recognize the county’s healthiest businesses.

Medtronic wins $57 million patent suit

SANTA ROSA — Medtronic Inc. was awarded $57 million in past damages in a suit against AGA Medical Corp., the company announced today.

Medtronic CardioVascular receives FDA’s ‘humanitarian’ approval for heart valve

SANTA ROSA – Santa Rosa-based Medtronic CardioVascular received unanimous approval today from an FDA panel to grant “Humanitarian Use Device” status to its Melody Transcatheter Pulmonary Valve, a decision that will expedite FDA approval of the device.

SSU business students step into the field to learn

ROHNERT PARK – Students at Sonoma State University’s School of Business are trying out a new way of learning operations management by attending classes onsite at local companies.

Is a constitutional convention in California’s future?

One of the fastest-growing divisions of Medtronic Inc. that focuses on treatments for diabetes is based in Northridge. But its 1,400-employee expansion won’t be there. It will be in San Antonio, Texas.

Chamber, RCU, schools partner on financial education

NORTH BAY – Redwood Credit Union, along with Santa Rosa City Schools and the Santa Rosa Chamber of Commerce, is hosting a course in financial literacy for high school students this summer.