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Medtronic CEO Discusses Strategy in India BY ANDREW VAHRADIAN, APRIL 24, 2013

Medtronic CEO, Omar Ishrak, sat down for an interview with the Economic Times and discussed the company's strategy regarding the Indian marketplace.

Medtronic's devices are generally utilized by developed economies as they are perceived to be premium segment products. The company estimates, however, that approximately 400 million citizens between India and China alone, are presently able to afford the company's premium products, but for some reason, they do not receive them. Mr. Ishrak believes this to is the case for three reasons: 1) lack of awareness, 2) lack of implanting physicians and 3) hospital geography. Therefore, the company's approach towards India has been centered around developing a domestic infrastructure that addresses these concerns.

Additionally, the company plans on building out a larger value segment with a more diversified product portfolio to better accommodate and tap into the growing middle classes of both countries. To some measure, the company has already begun forming the foundation of this strategy in China with its recent acquisition of Kanghui. Mr. Ishrak considers globalization as no longer merely a choice, but a necessity. A philosophy evident in the strategy at Medtronic.

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