Recently, Medtronic, the global leader in medical devices, announced that Jorie Soskin has been appointed as the new Vice President and General Manager of TAVR and Congenital Heart Disease businesses. According to data, Jorie Soskin is a seasoned veteran of Medtronic.

Since the beginning of this year, multiple personnel changes have been reported at Medtronic. As a giant in the healthcare industry, every decision made by Medtronic may have a profound impact on the entire industry. The personnel changes in core positions also mean a new leadership style and strategic direction.

15 year veteran, helping the high-quality development of TAVR field
As mentioned earlier, Jorie Soskin, the newly appointed Vice President and General Manager of TAVR and Congenital Heart Disease Business, is a seasoned veteran of Medtronic, currently residing in Minneapolis, Minnesota, USA. She holds a Bachelor of Arts degree in International Asian Studies from Boston College and has also studied International Business at Peking University.
Jorie Soskin's connection with Medtronic began with CoreValve. In 2009, after Medtronic acquired CoreValve for $850 million, he also joined Medtronic. I have been working in the cardiovascular field at Medtronic for 15 years now, and have held positions such as Vice President and General Manager of Medtronic's Procedure Innovations department, Senior Director and General Manager of Infection Control, and Director of Tachy Strategy.

Regarding the new appointment of Jorie Soskin, Nina Goodheart, Senior Vice President and President of Structural Cardiology and Aorta at Medtronic, said, "Jorie brings innovative momentum and a strong track record of improving patient outcomes and accessibility by focusing on executing strategic business opportunities. I look forward to working with Jorie as he drives our team's exceptional innovation

In addition, CoreValve is also of great significance to Medtronic. At that time, CoreValve was the main competitor to Edwards Scientific in the field of TAVR (Transcatheter Aortic Valve Replacement), and Medtronic also began to develop its TAVR business by acquiring CoreValve. It is worth mentioning that currently Medtronic's TAVR products still use the name CoreValve.

The CoreValve system was first approved in Europe in 2007 and is the first generation TAVR valve from Medtronic. Since then, the product has been continuously updated and iterated. Currently, the aortic valve replacement system platform is named Evolution and includes products such as Evolution R, Evolution PRO, Evolution PRO+, and Evolution FX. It is suitable for symptomatic severe aortic valve stenosis patients in all risk categories in the United States.

In August of this year, according to new data published in Cardiovascular revascularization Medicine, the clinical results of CoreValve were related to its "reassuring" durability 12 years later. The data in the article shows that 12 years later, when non cardiac death is considered a competitive risk, the cardiovascular mortality rate is 23.9%. The 12 year risks of structural valve deterioration (SVD), biological valve dysfunction (BVD), biological valve failure, and severe hemodynamic valve deterioration are 3.6%, 7%, 3.12%, and 1.7%, respectively.

The author of the article stated, "TAVR using the first generation CoreValve biological prosthesis is an effective method for treating severe aortic valve stenosis in high-risk patients. In addition, the durability of this SE biological prosthesis is reassuring

9 personnel changes, multiple businesses continue to grow
Since the beginning of 2024, there have been frequent changes in the senior management of Medtronic. According to statistics, at least 9 personnel changes have been reported, involving multiple businesses.

Looking back at Medtronic throughout 2023, it may be possible to identify some of the reasons for its frequent high-level changes. In 2023, Medtronic's overall revenue was $31.227 billion, a year-on-year decrease of 1.45%. Among them, the cardiovascular business contributed significantly, supporting the revenue banner with sales of $11.573 billion, accounting for 37.06%. Medtronic has once again won the top spot in global medical device revenue with this impressive performance. However, it is worth noting that Johnson&Johnson Medical Technology's revenue in 2023 was $30.4 billion, a year-on-year increase of 10.8%, only $827 million behind Medtronic.
Moreover, it is not difficult to see from Johnson&Johnson's recent actions that it is gradually strengthening its layout in the cardiovascular business, which is also one of Medtronic's main businesses. The two will also compete in the cardiovascular field in the future.

On August 20th, Medtronic released its first quarter financial report for the fiscal year 2025, which showed that its Q1 revenue was $7.9 billion (approximately RMB 56.32 billion), with adjusted revenue of $8 billion, a year-on-year increase of 2.77%; Net profit was 1.049 billion US dollars, a year-on-year increase of 31.62%.

From the perspective of product categories, multiple business segments are continuously growing and showing good development momentum:
 Cardiovascular products: Revenue of 3.007 billion US dollars, a year-on-year increase of 5.5%, organic growth of 6.9%. Cardiovascular products mainly include heart failure business, structural heart and aortic business, peripheral vascular business, etc;
 Neuroscience product portfolio: Revenue of $2.317 billion, up 4.4%, organic growth of 5.3%. Neuroscience products mainly include neural regulation business, pain therapy business, cranial and spinal technology business, and professional treatment business;
 Internal and surgical product portfolio: Revenue was $1.996 billion, a year-on-year decrease of 0.4%, with organic growth of 1.0%, including low single digit growth in net profit. Internal and surgical products include surgical and endoscopic examination business, acute care and monitoring business;
 Diabetes product portfolio: revenue was $647 million, up 11.8% year on year, and organic revenue increased 12.6%.

From its own point of view, Medtronic has a complete product pipeline, which now spans cardiovascular, neuroscience, diabetes, surgical solutions and other fields. In the latest financial report, the overall business of Medtronic is in continuous growth, except for the slight decline in the internal surgery product portfolio, in which the diabetes product portfolio has the fastest growth momentum, and many of Medtronic's blockbuster cardiovascular products have also been listed in succession this year. Can Medtronic continue to be the top medical device manufacturer and defend its reputation this year? rub one's eyes and wait.

Source: https://news.yaozh.com/archive/44254.html