Boston, MA (PRWEB) April 26, 2013
Healthy Heart for All, a new health initiative from Medtronic, the world’s largest medical technologies firm, was awarded the gold seal for best new funding model in the lifestyle and social impact category at last night’s renowned 2013 Edison Awards, held in Chicago. Healthy Heart for All was born out of a collaboration between Medtronic and Innosight, the strategy and innovation consulting firm.
Healthy Heart for All is a national initiative for patients across India who suffer from heart disease, the #1 cause of premature death there. Through business model innovation aimed at expanding access to cardiac technologies, its mission is to provide patient outreach, diagnostics, and an industry-first financing plan for pacemaker implants. The development of Healthy Heart for All is chronicled here.
This is the fourth consecutive year that an Innosight client project has been honored with a gold Edison. Godrej & Boyce’s ChotuKool was a recipient in 2012, the Chevrolet Volt in 2011, and Procter & Gamble’s Align probiotic in 2010. Additional information about these projects can be found at Innosight.com.
“There’s a massive population who do not get the benefits of the therapies that we provide and have invented over the years. Going to the emerging markets is not only an important opportunity, it’s also a responsibility,” Medtronic’s Chief Executive Officer, Omar Ishrak, has said.
Scott D. Anthony, Managing Partner of Innosight, said: “We’re delighted that Medtronic has received this honor and thrilled to have collaborated. The Healthy Heart for All initiative demonstrates the power of business model innovation to improve access to life-saving technologies and to help established companies find success in emerging markets.”
Anthony described how large enterprise like Medtronic are leveraging their resources, scale, and growing agility to develop solutions to global challenges in a widely read 2012 Harvard Business Review article, “The New Corporate Garage.”
According to Omar Ishrak: “By the end of 2012, we had already screened 20,000 patients. 2,000 of them got life-saving implants. I think the opportunity presented by Healthy Heart for All is very exciting. We’re scaling this up very rapidly.”
Celebrating its 26th year, the Edison Awards honor innovative products, services and business leaders, and have become an international symbol of innovation and ingenuity in business. The awards are named after Thomas Alva Edison whose inventions, new product development methods and innovative achievements literally changed the world, garnered him 1,093 U.S. patents, and made him an enduring figure in the history of innovation.
Innosight is a strategy and innovation consulting firm. It partners with global enterprises to develop growth strategies, build innovation capabilities, and launch new businesses, products, and services through business model innovation. Innosight is based in Lexington, MA, with offices in Singapore.