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Presenter Disclosure Information William Hawkins Chairman and CEO, Medtronic Inc. FINANCIAL DISCLOSURE: Chairman and CEO, Medtronic Inc. UNLABELED/UNAPPROVED USES DISCLOSURE: N/A

Presenter Disclosure Information William Hawkins Chairman and CEO, Medtronic Inc. FINANCIAL DISCLOSURE: Chairman and CEO, Medtronic Inc. UNLABELED/UNAPPROVED

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Presenter Disclosure Information

William HawkinsChairman and CEO, Medtronic Inc.

FINANCIAL DISCLOSURE:Chairman and CEO, Medtronic Inc.

UNLABELED/UNAPPROVED USES DISCLOSURE:N/A

Bill HawkinsChairman and CEO, Medtronic

November 16, 2009

Collaboration, Innovation and Restoring the Public Trust

Medical technology has enabled remarkable advances in the treatment of chronic diseases

Implantable cardiac pacemaker

Heart valves

Implantable defibrillator

Coronary stents

Balloon angioplasty

CAT scan

Cardiac resynchronizationPerfusion systems

Beating heart surgery

Transvenous leads

External pacemaker

Insulin pumps

MRI & advanced imaging

60% reduction!60% reduction!

YEAR

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Collaboration is vital to the medical technology “innovation ecosystem”

Regulators

Medical Associations

Policymakers

Clinical Community

Hospitals Academia

Industry Advocacy

Physician-industry collaboration plays a critical role

Physician collaboratio

n

Invention and New Ideas

Selection Criteria and Indications

Implantation Techniques and

Technologies

Clinical Insights

Product Improvement

Clinical Trials and Regulatory

Support

Training and Education

Long-term Performance Assessment

Many of today’s most important medical devices are the result of collaborative innovation with physicians

Diabetes

Cardiovascular Disease

Cardiac Rhythm Disorders

Neurological Disorders

Spinal Conditions Musculoskeletal Trauma

This is particularly true in the areas of education and training and essential to the well-being of patients

• Different from pharmaceuticals

• “Bedside to bench to bedside”

• Therapies are sophisticated and procedure-based

• Expert training optimizes therapy effectiveness

• Demanded for patient safety

Trust in this model has been eroded as a result of highly publicized conflicts of interest

TUESDAY, AUGUST 18, 2009

Probing Doctors’ Ties to IndustryBy Ibby Caputo

Report decries drug makers’ perksfor MDs; Providers of care are urged to shun financial benefitsBy Matthew Perrone

April 29, 2009

Side EffectsAre Doctors’ Loyalties Divided?Faculty disclose outside paymentsSome UW doctors get 6-figure sums from drug, medical firmsBy John Fauber

JUNE 21, 2009JAN. 27, 2009

Lawmakers Reintroduce Bill on Industry-Physician Gifts

Grassley works to disclose financial ties between drug companies and doctors

JAN. 22, 2009

Senator Chuck Grassley News Release

TUESDAY, MAY 19, 2009

Senator Asks About Doctor Who Army Says Falsified G.I. StudyBy Barry Meier and Duff Wilson

Medtronic has always been a leader in this area

• Aligned with our mission

• Defines our culture and values

• Cornerstone of our ethics and compliance program

• Provides clear policies and guidance for business practices, including our customer interactions

• Required for all employees worldwide

• Early champion: AdvaMed Code of Ethics

As an industry we have made progress…

Edwards Lifesciences to Disclose Financial Relationships with U.S. Physicians

Eli Lilly to Launch Physician Payment Database

Physician Payment Sunshine: Merck Joins the Act

Medtronic to Voluntarily Disclose Payments to U.S. Physicians

…but we can and MUST do better

The Physician Payments Sunshine Act

An important first step towards transparency

Key component of healthcare reform

Levels the playing field

Provides a uniform standard

Proprietary information must be protected

Our evolving approach will continue to reinforce the benefits of collaboration while restoring the public trust

[REINFORCEREINFORCE [REINFORCEREINFORCE

Principled basis for industry and physician collaboration

Sanctity of MD-patient relationship

Minimize biases that could affect the objectivity required for optimum medical decision making

Defined needs and roles

All physician roles will be defined and disclosed to demonstrate their intentions

All work will meet pre-specified needs

Transparency and external oversight

Physician activity will be documented and disclosed to the public

Engage objective external medical, social, and ethical experts to review our practices

We will continue to lead consistent with a set of principles that will guide our path forward

Angelina HendersonU.S.Cardiac Resynchronization Therapy to treat congestive heart failure

Chima MiyaoriJapanMicrodebrider to remove tonsils causing sleep apnea

Lina TedescoItalyInterStim Therapyto treat voiding dysfunctions

Renan AltendorffBrazilInsulin pump to control diabetes

David MangramU.S.Intrathecal Baclofen Therapyto treat symptoms of stroke

Irene ChettiarIndiaActiva DBS Therapy to treat Dystonia

It’s not just about “Public” trust, it’s about THEIR trust