Geoffrey Martha on tariffs
From Medtronic CEO reveals the impacts of tariffs on company · · Fox Business Clips
“We've worked hard to reconfigure our supply chain, to optimize that tariff bill and look for the med tech industry and for Medtronic, we are 70% of what the U.S. healthcare system buys in med tech is made in the U.S. already like 80% of our supply chain is here. The IP is here. 90 some percent of the R&D is here. We're a very unique U.S.-based industry and Medtronic as a company and we're a big exporter, so that really helps our tariff position and our discussions with the administration but despite all of that we are having this pretty meaningful tariff bill and it's increased over one year to the next.”
On , Geoffrey Martha, Chairman of the Board & Chief Executive Officer at Medtronic PLC, spoke about tariffs during Medtronic CEO reveals the impacts of tariffs on company on Fox Business Clips.
About Geoffrey Martha
Geoffrey Martha discussed the impact of tariffs on Medtronic during a June 2026 appearance on Fox Business, stating that the company's growth and innovation provide a cushion against input cost increases and that Medtronic's supply chain is largely U.S.-based, which he said helps its position in discussions with the administration. In May 2026, he spoke with Siemens Healthineers CEO Bernd Montag about the future of healthcare, describing AI as a game changer for interpreting images and personalizing therapy at scale, and noting that collaboration between therapy and imaging companies is becoming more important. Across fiscal 2025 and 2026 earnings calls, Martha reported accelerating organic revenue growth and raised guidance. He highlighted strong performance in cardiac ablation, noting that the company's pulsed field ablation (PFA) franchise grew 71% in the second quarter of fiscal 2026 and was winning share. Martha also discussed the planned separation of Medtronic's diabetes business through an IPO and spin-off, which he said would sharpen focus on core businesses and be immediately accretive to earnings per share. He emphasized increased investment in R&D and sales and marketing, particularly in high-growth areas such as cardiac ablation, renal denervation, and surgical robotics, and stated that the company is entering a period of greater revenue and earnings growth.