- Company Recognized for Ground-Breaking Work in the Field of Deep Brain Stimulation
Medtronic, Inc. (NYSE: MDT) today announced that it has been selected as one of Massachusetts Institute of Technology (MIT) Technology Review's 50 most innovative companies. Known as TR50, the first annual list includes companies that Technology Review believes have demonstrated superiority in inventing technology and in using it both to grow their own business and transform how we live.
Medtronic was recognized for its leadership in the development and introduction of Deep Brain Stimulation (DBS) Therapy, which helps treat neurological conditions by delivering controlled electrical pulses to a specific part of the brain. For more than 15 years, Medtronic has collaborated with leading physicians and invested in and developed this therapy. DBS therapy was first commercialized outside the United States in 1995, and approved by the U.S. Food and Drug Administration in 1997 for the suppression of tremor in the upper extremities. Medtronic has continued to improve the technology and broaden its applications. Medtronic DBS therapy is now approved to manage some of the symptoms of Parkinson's disease and in the treatment of chronic, intractable dystonia, as well as severe, treatment-resistant obsessive-compulsive disorder (OCD). The company also received FDA approval in 2009 for Activa(R) PC (primary cell) and Activa RC (rechargeable), the most advanced neurostimulation systems available, including the first rechargeable device used in DBS therapy.
"We are honored to be recognized for our work in advancing DBS therapy," said Don Deyo, vice president of Product Development and Technology in Medtronic's Neuromodulation business. "In collaboration with leading physicians, we pioneered DBS therapy and we have remained focused on advancing the technology for the benefit of patients worldwide. We are thrilled that the employees and partners who participated in these technology innovations are being acknowledged for their efforts."
The TR50 list spans a range of industries including energy, computing, the Web, biomedicine and materials. Each company in the 2010 TR50 was evaluated on three criteria: business model, strategies for deploying and scaling up technologies and likelihood of success. For a complete list of winners, visit http://www.technologyreview.com/companywatch/tr50/.
In announcing the selections, David Rotman, editor of Technology Review, said, "In choosing the TR50, we picked companies with this year's most important inventions and breakthroughs as well as companies that are successfully growing businesses and markets around innovative new products."