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Business Description
Medtronic is a medical technology company that provides lifelong solutions for people with chronic disease. Its five operating segments manufacture and sell device-based medical therapies. The therapies are Cardiac Rhythm Management supplies medical devices designed to treat a range of heart conditions, such as bradycardia, tachyarrhythmia and heart failure; Spinal, Ear, Nose and Throat and Surgical Navigation Technologies offers products for the treatment of the conditions, such as spinal disorders and ear, nose and throat disorders; Neurological and Diabetes offers products for the treatment of the conditions, such as neurological disorders, diabetes and gastroenterology and urology disorders; Vascular offers minimally invasive products for the treatment of the conditions, such as coronary artery disease, peripheral vascular disease and abdominal/thoracic aortic aneurysm, and Cardiac Surgery offers products for the treatment coronary artery disease and heart valve disorders.

Financial Information
For the 3M ended 7/30/04, net sales rose 14% to $2.35 billion. Net income rose 18% to $529.7 million. Results reflect strong demand for the Company's defibrillator products and improved gross profit margins.