Where are Medtronic pumps manufactured? I know they are headquartered in Dublin, but have heard that pumps are made in Puerto Rico. If so, this coupled with a few other issues may account for back orders. A brief Google search was not able to answer.
My endocrinologist said the plant in Puerto Rico was making the new guardian sensors.
wow. that’s not good. PR is a disaster.
EDIT: The Market Cap drop on Monday (business day following the news release as linked below) for Medtronic was 3-1/2 Billion dollars. Which does not seem consistent with the company statement below. This could be an investor knee-jerk reaction (which is probably common) or an attempt by a major corporation to minimize actual bad news (which is probably also common). As is often the case, time is likely the only way to know the truth.
Medtronic Provides Update on Impact from Hurricane Maria
October 6, 2017
[Below are selected clips from the article as linked above. For the full statement, read the above link.]
All four of the company’s business groups have some level of manufacturing across four major locations in Puerto Rico.
Currently, all of its sites are partially operating, with the assistance of power from back-up generators, and manufacturing is expected to gradually ramp up over the coming weeks.
The availability and sales of certain products that are newly launched, were on backorder status, or had lower inventory levels prior to the hurricane are expected to be affected in all four business groups, particularly in the United States in the company’s Minimally Invasive and Restorative Therapies Groups.
Medtronic estimates an impact to both revenue and non-GAAP net earnings up to $250 million dollars in the fiscal 2018 second quarter, which closes on October 27, 2017.
Given the rapidly changing situation in Puerto Rico, it is still too early to determine the ongoing impact, if any, from Hurricane Maria beyond the company’s fiscal 2018 second quarter. However, given the expected strength of new product demand, particularly in the Cardiac and Vascular Group and Diabetes Group, the company continues to expect mid-single digit revenue growth on a comparable, constant currency basis in the second half of the fiscal year.
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Medtronic got into the insulin pump business when it bought MiniMed back in 2001. MiniMed manufactured its pumps in Northridge, California. My Medtronic MiniMed 722 model insulin pump has a Northridge, CA address on the back panel. I believe all or most of Medtronic insulin pumps are manufactured in Northridge.
Further searching shows this January 2016 company press release that indicates an intention to build a Chinese factory to produce advanced pumps for the Chinese market.
With almost 115 Million people with diabetes in China, this is probably a good approach.
(Compared to almost 30 Million people with diabetes in the USA.)