MEDTRONIC TO LAY OFF 29 AT WABASHA PLANT

by Michael Smith
A spokesman for Medtronic, Inc., has informed City officials that the medical supply company will be laying off “less than 30” of its employees at its Wabasha Medtronic/Uni-Patch plant on the West Side, according to Mayor Rollin Hall.
According to Medtronic Communications Director, “less than 30” of the firm’s workers would be laid off and “notifications have started this week.” A separate spokesman told Mayor Hall that the company “has no further plans to change anything for the local facility for the foreseeable future.”
Mayor Hall was also informed that the layoffs would apparently involve 3rd Shift employees.
Medtronic, formerly known as Covidien and originally Uni-Patch, which was established in thed mid-1970’s by Wabasha native Pete Ochsner, employs more than 100 people at the West Side facility.
Jordan, in a telephone conversation and email with the Herald, said, “Medtronic operates within a highly competitive global healthcare environment. Throughout our global locations, we consistently evaluate our operations to advance our growth, improve our operational efficiency and strengthen our position for the future.
“As a result of a customer/distributor’s recent decision to exit the electrode business, the decline in demand of branded electrode units has slowed our manufacturing requirements. Due to the lack of manufacturing volume, less than 30 positions at our Wabasha, Minnesota facility have been eliminated. With this reduction, the facility will employee about 80.
“During the past year, Medtronic’s CEO, Omar Ishrak, made a commitment of 1,000 new jobs in the state of Minnesota over the next five years. To date, 350 jobs have been created. Medtronic remains committed to Minnesota.
“We recognize the strong work, dedication and quality of the Wabasha team. We are providing employee assistance to help reduce the effects of this restructure. The company is supporting employees as they transition to new employment opportunities.”
About Medtronic/Covidien Medtronic is an Irish medical device company headquartered in Dublin, Ireland. The operational headquarters is centered in Fridley, Minnesota,, according to Wikipedia. Medtronic is the world’s largest standalone medical technology development company.
In 2015, at the time of its acquisition of Covidien, Medtronic’s market cap was about $100 billion, while the market cap for CRHF, Ireland’s largest indigenous business, was $18.4 billion. Medtronic operates in more than 140 countries.
The company employs over 80,000 people and has more than 53,000 patents.
Medtronic was founded in 1949 in Northeast Minneapolis by Earl Bakken and his brother-in-law, Palmer Hermundslie, as a medical equipment repair shop.
Covidien was established here in 2007 from Tyco International’s health care business spin off. Tyco had earlier acquired Uni-Patch.
The Wabasha Medtronic/Covidien plant has been a manufacturer of stimulating electrodes for use in hospital patient care, along with other related skin care and gel products for patient care use.