Medtronic, Inc. Invests Millions in One of Its Few Growing Business Segments; Creating 175 New Jobs

Last week, Medtronic (NYSE:MDT) broke ground on a new $14 million facility in Jacksonville, Florida. It marks an expansion of one of the few growing business segments of the Minnesota device maker — surgical technologies. The new 75,000-square-foot addition is expected to create 175 new full-time jobs by the end of 2015, according to the Jacksonville Business Journal. A look into Medtronic’s financial performance, especially that of the surgical technologies business, explains why Medtronic is plowing millions of dollars into it.