MassDevice.com Q&A: Medtronic CEO Omar Ishrak (MassDevice)
Medtronic CEO Omar Ishrak tells MassDevice.com about how he screens potential acquisitions, his plan to re-shape the company and handling the controversy over the Infuse spine treatment.
Just a few days into his tenure as CEO of Medtronic (NYSE:MDT), Omar Ishrak was confronted with a major crisis: The Spine Journal devoted its entire June issue to to exposing problems with growth proteins, including a repudiation of some of the research surrounding Infuse.
The ensuing clamor, which included federal investigations into allegations that Medtronic's paid consultants may have concealed the risks of Infuse, prompted 1 of Ishrak's first public statements as the new face of Medtronic.
"For several years Medtronic has been leading the industry in reforms designed to eliminate or mitigate conflicts of interest. We will continue to investigate questions surrounding researchers’ potential conflicts of interest, refine our policies as warranted, and strive to lead the industry in ethical and transparent business practices," he said, and soon put his money where his mouth was.
Medtronic sponsored a $2.5 million rev...
