Here are five key notes:
1. The plaza is three acres between a public park downtown Minneapolis and the front door of the new stadium. Medtronic’s name will be emblazoned on the plaza.
2. The plaza will be called Medtronic Plaza and will include a “vastly improved pregame experience” for fans, according to the report.
3. The sponsorship comes less than a year after Medtronic officially moved headquarters out of Minnesota to Ireland, where tax rates are more favorable to medical device companies, after merging with Ireland-based Covidien. A Medtronic representative said the sponsorship shows the company’s continued commitment to the community post-move. Medtronic is also a Twin Cities Marathon sponsor.
4. The plaza naming rights could also bring new visibility among consumers, although the company typically sells just to hospitals and physicians.
5. It’s estimated around 85 percent of all game day visitors will enter through the plaza. The terms of the deal were not disclosed, but the naming rights for the stadium were valued around $10 million per year.
More articles on orthopedic devices:
5 observations on Amedica shares dropping by 15.92%
Global MIS market to grow to $50B+ by 2019: 7 key trends
ExactechGPS launches globally: 5 things to know
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
