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Medtronic Announces San Antonio as Home of New Diabetes Facility
May 12, 2009

Move Will Add 1,400 High-Skilled Jobs to Local Community

 

MINNEAPOLIS - Medtronic, Inc. (NYSE: MDT) announced today that the company has chosen San Antonio, Texas, as the home of its new Diabetes Therapy Management and Education Center. Medtronic is expected to hire nearly 1,400 professionals during a five-year period to staff the new 150,000-square-foot facility. The announcement took place today at the Overlook at the Rim office building, the proposed site for the new center. Medtronic expects to begin recruiting immediately with the facility opening for operations in late summer.

"We are excited to add the city of San Antonio to the Medtronic family and look forward to becoming an active member of the growing biomedical community in South Texas," said Chris O'Connell, president of the Diabetes business and senior vice president at Medtronic. "Medtronic offers exciting and fulfilling career opportunities helping people with chronic diseases live healthier, more productive lives." "By expanding their diabetes division in San Antonio, I believe that Medtronic is sending a clear message that the core strength of Texas' economy, built on our low taxes, fair legal system and predictable regulatory climate make the Lone Star State the best place to live, work and raise a family," said Texas Governor Rick Perry. "These factors, combined with our quality workforce and a $6 million investment from the Texas Enterprise Fund, make it possible for us to make today's announcement about more jobs for Texans."

"Diabetes has a significant effect on our community," said San Antonio Mayor Phil Hardberger. "Having a medical technology company of this caliber that focuses on this disease is an important addition to our current world-renowned research and therapy programs. It offers hope that we can play an instrumental role in improving the health of Texans and people around the world."

"Healthcare and bioscience continues to top San Antonio's list of leading industries, with an annual economic benefit of more than $14 billion. Our skilled healthcare workforce and commitment to the industry continues to be recognized by worldwide businesses," said Bexar County Judge Nelson Wolff. "Medtronic coming to San Antonio provides

exceptional opportunities for businesses, especially in the city's leading industry." "We are fortunate to welcome a leading healthcare company to San Antonio," said San Antonio Economic Development Foundation Chairman Randy Cain. "Medtronic is bringing a significant number of well-paying, technical positions to the city at a time when people are looking for employment opportunities across the nation. This is one of the largest economic development projects in the United States this year, with nearly 1,400 jobs anticipated."

Based on analyses made by the San Antonio Economic Development Foundation, when fully staffed, the new operation is expected to generate more than $750 million in economic benefit for San Antonio and Texas each year. This includes an investment of more than $23 million in capital improvements. Because of the significant economic benefit this facility will make to the local community, and the high-skill jobs it provides, Medtronic was awarded a Texas Enterprise Fund (TEF) grant of more than $6 million dollars from the state, an important factor in the company's decision to come to Texas.

The company also received grants and incentives from local governments. Grants and incentives from all parties totaled more than $14 million. As a sign of Medtronic's commitment to the San Antonio Community, the company also announced two grants it is giving to local healthcare organizations. The Social & Health Research Center and CentroMed were both awarded $50,000 to expand programs that reduce diabetes risk factors, and increase education and access to diabetes care. Supporting Medtronic's mission to build a sustainable, environmentally responsible business, the Overlook at the Rim has a Silver certification according to the Leadership in Energy and Environmental Design (LEED) Green Building Rating System. Highlights of this LEED-certified green facility include water-efficient landscaping, a "heat island effect" roof and a dedicated recycling center. The building receives power from sustainable, wind-generated electricity, and also produces no light pollution.

The final decision to choose San Antonio resulted from an evaluation of more than 930 locations across all 50 states. Medtronic assessed several criteria including employee quality of life, availability of skilled labor, local costs and business environment. Medtronic continues to invest and grow its headquarters in Northridge, Calif., and commitment to California employees remains strong. For individuals interested in employment opportunities with Medtronic at the new San Antonio facility, please visit the Diabetes business unit on the Web at: www.medtronicdiabetes.com/sanantonio.

About the San Antonio Economic Development Foundation
The San Antonio Economic Development Foundation is a private, not-for-profit organization responsible for attracting new business and industry to San Antonio. The organization has been responsible for the recruitment of more than 300 companies that collectively employ more than 70,000 San Antonians. For more information, contact Mario Hernandez (210) 226-1394.

About the Diabetes Business at Medtronic
The Diabetes business at Medtronic (www.medtronicdiabetes.com) is the world leader in advanced diabetes management solutions, including integrated diabetes management systems, insulin pump therapy, continuous glucose monitoring systems and therapy management software.

About Medtronic
Medtronic, Inc. (www.medtronic.com), headquartered in Minneapolis, is the global leader in medical technology, alleviating pain, restoring health and extending life for millions of people around the world.

Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic's Annual Report on Form 10-K for the year ended April 25, 2008. Actual results may differ materially from anticipated results.

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