Putting Purpose into Action: Philanthropy

Excerpts from the 2020 Medtronic Integrated Performance Report

SOURCE: Medtronic

DESCRIPTION:

ADDING BUSINESS VALUE

Our strategic philanthropic giving helps us deliver our Mission by serving as a good citizen worldwide. Medtronic and the Medtronic Foundation partner with organizations to make investments in underserved communities to achieve outcomes and meaningful impacts. Our philanthropic partnerships build trusting relationships with local and global organizations and engage our workforce through giving and volunteerism.

A STRATEGIC APPROACH TO PHILANTHROPY

The global impact of noncommunicable diseases (NCDs) is significant. Each year, 15 million people between the ages of 30 and 69 die of an NCD, with more than 85% of these premature deaths occurring in low- and middle-income countries.10This is compounded by the COVID-19 pandemic, with the greatest impacts affecting the underserved.

Our philanthropic activities are central to our ability to improve access to vital treatment, support, and care for underserved communities. Our partnership approach prioritizes organizations that share our vision for measurable and meaningful impact that delivers lasting change.10

OUR CONTRIBUTIONS

In FY20, Medtronic and the Medtronic Foundation contributed more than $105 million in combined philanthropic investments. We focus our efforts on:

  • Cash contributions — providing funding for medical professionals and fellowship positions, clinical research grants, third-party-sponsored health education programs, and other health-related activities
  • Medtronic Foundation grants — working to improve health for underserved populations worldwide and support communities where Medtronic employees live and give
  • Product donations — working with global partners to distribute products to nonprofit organizations and in-country clinics and to support disaster-recovery efforts
  • Employee volunteering — inspiring and supporting employees to give back to communities year-round by contributing their time, skills, and resources

Supporting communities through the COVID-19 pandemic

Amid the onset of the COVID-19 pandemic, a significant share of our philanthropic contributions were directed toward a global response.

The Medtronic Foundation’s financial contributions through FY20 included grants to partners to equip frontline health workers, bolster local response efforts, and support community organizations and food banks.

Medtronic regions and business units provided cash contributions and product donations, including supplies for vulnerable diabetes patients and vital equipment for COVID-19 patients.

Advancing equity and reducing disparity

Our philanthropic activities are an important lever for social change, enabling targeted investment in communities and organizations that further inclusion and diversity and foster a greater focus on equity. For example:

  • The Medtronic Foundation addresses inequity in access to healthcare by investing in health workers who focus on improving health outcomes for the underserved.
  • The Medtronic Foundation invests in organizations that deliver improved care and economic well-being for diverse and underserved communities.
  • Medtronic inspires diverse employees to connect in Employee Resource Groups and Diversity Networks through focused philanthropic initiatives.
  • Medtronic employees volunteer their time with organizations dedicated to addressing inequities and empowering diverse communities.

MEDTRONIC FOUNDATION PROGRAMS

The Medtronic Foundation focuses on scalable, sustainable solutions that deliver lasting impact for the underserved. This means our partners work alongside our teams to achieve meaningful outcomes in health and social issues that matter most to communities.  These investments combine financial support with skills-based employee volunteering to deliver much-needed resources along with high-level counsel. Stacking our resources creates strategic partnerships and supports longer-term change in a way that single, short-term interventions cannot.

Global health partnerships

The Medtronic Foundation works to strengthen local healthcare systems and capacity, enabling more patients to get the treatment they need. This complements and amplifies the ongoing Medtronic focus on expanding global access to our lifesaving products and therapies.

In addition to funding the social enterprise Medtronic LABS, the Medtronic Foundation funds programs that strengthen health systems and invest in healthcare workers, making cumulative contributions of $12.3 million to date. The five-year HealthRise program ended as scheduled in FY19 and transitioned to local partners in FY20. In Himachal Pradesh, India, the government screened 2 million patients for noncommunicable diseases, with more than 100,000 put on treatment and continuously supported using HealthRise protocols and its digital “HealthCard." This demonstrates the work of the Medtronic Foundation to scale successful projects and ensure the sustainability of the work even after initial funding is gone.

In FY20, Medtronic Foundation kicked off new patient-centered care programs for the management of chronic conditions in primary care. A competitive grant partner selection process resulted in partnerships in three U.S. states and in India, Bangladesh, South Africa, Kenya, and Uganda. Medtronic Foundation uses a data-driven selection process to invest deeper in a smaller group of partners. Incremental financing based on milestones enables methods to be adapted based on what does and does not work. At all sites, programs are pivoting in response to COVID-19 to offer remote patient monitoring and virtual visits for more than 6,000 high-risk, vulnerable patients.

HeartRescue measures and improves care for sudden cardiac arrest (SCA) and certain types of heart attacks. HeartRescue United States currently partners with 18 U.S. states, while HeartRescue Global ended its final full year of implementation in Brazil, China, and India, with results expected in FY21. In the United States, HeartRescue partners supported nearly 100,000 SCAs, a 30% increase since the program began. Across the program’s global sites, partners treated approximately 2,000 STEMIs and assessed them for quality of care in the patient registries.

RHD Action works to end rheumatic heart disease (RHD) in vulnerable populations. Approximately 320,000 people lose their life to this preventable disease each year, and 80% of the world’s population continues to be at risk.16 In FY20, RHD Action concluded work in Tanzania, taking a holistic approach to stopping the spread of RHD through education, screening, referral, medical worker training, clinical support, and advocacy. The World Health Organization will require member countries to review global progress on RHD at its annual Assembly in May 2021.

EMPLOYEE VOLUNTEERING

The Medtronic Foundation offers a number of ways Medtronic employees can give back to their communities through volunteering and/or giving, including:

  • Matched Giving — The Medtronic Foundation matches Medtronic employee and retiree donations made to any eligible nonprofit up to $5,000
  • Volunteer Grants — When employees reach 25 volunteer hours in a calendar year with an eligible nonprofit, that organization will receive a $500 grant
  • Skilled Service — The Medtronic Foundation curates skills-based volunteerism through programs like the Global Innovation Fellows
  • Project 6 — The annual kickoff in June for 365 days of giving back to causes that mean the most to Medtronic employees
  • Year-Round Volunteerism — The Medtronic Foundation offers a variety of year-round opportunities to engage employees in their desire to give back, this includes responding to natural disasters

DISASTER RESPONSE

Natural disasters, pandemics, and extreme weather continue to impact the health of communities around the world. In response to these events, Medtronic and the Medtronic Foundation focus on building long-term partnerships with local and global organizations that can aid in recovery. In response to the COVID-19 pandemic, we took immediate action to safeguard our employees who support our community, such as:

  • Implementing safety measures for employees that could not work from home and making financial and well-being resources available to all employees
  • Establishing partnerships between the Medtronic Foundation and nearly 50 local community organizations and food banks to provide critical resources and assistance to underserved populations worldwide

Paid time off for volunteering

Medtronic employees can take five days of paid time off each year to support relief and recovery efforts by volunteering with nonprofits and nongovernmental organizations.

The Medtronic Foundation organizes weeklong, hands-on volunteering opportunities to rebuild impacted communities. For example, earlier in FY20, seven Medtronic colleagues spent a week working with a global nonprofit to help rebuild in the town of Salinas del Marqués in Mexico, following a devastating 8.2 magnitude earthquake two years prior.

When their own communities are struck by disaster, Medtronic employees can seek assistance from the Medtronic Employee Emergency Assistance Fund.

Grants

The Medtronic Foundation distributes grants to enable fast, strategic response to disaster. It works with organizations to preposition suppliers and build staff capacity.

Read the full report.

Tweet me: .@Medtronic and @MDTFoundation partner with organizations to make investments in underserved communities to achieve outcomes and make meaningful impacts on global health challenges. https://bit.ly/34HN0Yq

KEYWORDS: NYSE:MDT, Medtronic

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.