Medtronic paid CEO Omar Ishrak $15.7M for FY 2017

Written by Laura Dyrda | August 29, 2017 | Print  | Email

Medtronic CEO Omar Ishrak received $15.7 million in compensation for the 2017 fiscal year, according to a Reuters report.

 

His compensation increased 2.6 percent from 2016, when he received $15.3 million. For the full 2017, Medtronic reported $29.7 billion in revenue, a 3 percent increase over 2016. In 2018, the company expects revenue to grow 4 to 5 percent.

 

In the first quarter of the 2018 fiscal year, Medtronic reported $7.39 billion in revenue, with U.S. revenue increasing 1 percent to $4 billion. U.S. revenue accounts for 55 percent of the company's overall revenue.

 

Medtronic made several key moves over the past year, including an investment in Mazor X systems, its robotic guidance system for spinal surgery. Medtronic initially signed a $20 million equity investment in Mazor and now owns 7.27 percent stake in the company.

 

More articles on spine devices:


20 spine devices receive FDA 510(k) clearance in July
US knee implant market to grow at 5.3% through 2024
Berkeley Medical Center installs 1st Mazor X in West Virginia

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies here.