Medtronic Inc. Project

Abstract

Shortly after the sale of Intermedics, a low-level Medtronic executive expressed an interest in funding a project to manufacture a carbon bileaflet valve Medtronic could sell. My answer was an abrupt no, I had other plans. A follow-up invitation came from an executive vice president asking me to travel to Minneapolis. Reluctantly, I traveled to Minneapolis without a lawyer. The first offer was 200,000 dollars to stand still for 90 days. I “blew that off” and the offer went to 600,000 dollars. As I was turning my back on him came, “O.K. Medtronic will fund everything.” They wanted a facility that could produce 40,000 bileaflet valves per year and an advanced bileaflet valve. A deal was struck. My conditions were listed and Medtronic agreed on a term they’d accept. Going forward, Carbon Implants, Inc. was formed to carry out the project. Carbon Implants patented a new bileaflet valve, a unique concept. Carbon Implants made an important advance in carbon processing, one that Medtronic rejected for use in their new valve design, as a “Design Freeze” announcement for their new valve was proclaimed using Pyrolite Carbon. Shortly after the Medtronic clinicals started in Europe in February 1995, clotting of three Parallel Valves occurred. The protocol was confidential. Looking forward, we elected to pursue the Accuntius/Wilde patent to produce a pure carbon valve replacement.