David Neustaedter has departed from Ireland-headquartered medical device provider Medtronic after more than 14 years at the firm.
Neustaedter did not disclose his new position or company name but said he will be working at a private investment company focusing on medical technology developers.
His last role as US-based vice-president of venture capital at Medtronic entailed Neustaedter developing financial strategies to bolster corporate venturing and helping the company discover strategic areas.
“I had the pleasure of serving as a director and observer on over 25 venture-backed company boards while at Medtronic,“ Neustaedter said. “While every one of these companies had its own culture and character, I worked with just as many talented, driven and passionate executives in these companies as I did within Medtronic.”
Before Medtronic, Neustaedter had been director of venture capital for six years at Covidien, an Irish medical device manufacturer that was acquired by Medtronic in 2014 for $42.9bn.
Medtronic has been an active corporate venturer, having most recently backed coronary artery disease medical device producer CathWorks, and its exits include sleep apnoea treatment centre Inspire Medical Systems, which listed in a $108m initial public offering on the New York Stock Exchange in 2018.
“There are so many people at Medtronic that I’ve learned from and enjoyed getting to know,” Neustaedter added.
“For me, the Medtronic Mission translated to 14 years of being able to tell my kids that my job was helping small companies develop products to improve people’s health. At this point, I believe that products from companies that I have led or managed investment in have helped between one and two million people and I believe will help many millions more to come.”
Image of David Neustaedter courtesy of Flickr.