For the past five years, Brett Wall has overseen the neuroscience portfolio of Medtronic, one of the world’s largest medical device makers valued at $121 billion, operating out of the company’s Irvine office.
“We’ve created a number of really significant technologies that greatly enhance, improve and help people’s lives,” Wall told the Business Journal.
The portfolio includes five operating units: neuromodulation, cranial and spinal technologies, neurovascular, pelvic health, and ear nose and throat.
Combined, they generate over $10 billion in annual revenue, accounting for nearly a third of the company’s business, and employ an estimated 18,000 people globally.
Under Wall, the neuroscience portfolio grew 5% and gained market share for the first time in three years, led by strength in neuromodulation, core spine and neurosurgery.
Wall received the Business Journal’s Innovator of the Year Award on Sept. 10 for leading the business; however, he emphasized that there would be no award for Medtronic without “the tremendous innovative spirit that sits inside each of our employees.”
Medtronic also has its cardiovascular unit in Santa Ana that’s overseen by Harry “Skip” Kiil, who recently took over the role from Sean Salmon.
Pioneering Stroke Treatments
All of Medtronic’s neurovascular technologies are designed, developed and manufactured here in Orange County.
Wall said that Medtronic pioneered breakthroughs in stroke treatments by creating the first-ever stent retriever.
“It’s one of the things as a company and a group of people, I think, we’re most proud of,” he said.
The clinical studies that were published for the device allowed the American Heart Association to change guidelines for stroke therapy, according to Wall.
“It used to be you go to the hospital within a certain amount of time, they give you a medication and that was kind of all they could do,” he said.
Medtronic continues to see high demand within neurovascular because “there are still mountains to climb and diseases that need help there,” Wall said.
Other areas the company has invested in are spinal surgery and neuromodulation.
Wall said that Medtronic has invested in changing spinal surgery by integrating robotics and AI that navigate surgeons to the right location.
“That’s a big part of our business,” he said.
Medtronic’s neuromodulation devices treat patients with severe pain, Parkinson’s disease and other movement disorders.
In February, the company received FDA approval for a deep-brain stimulation therapy device using closed-loop sensing technology to automatically adjust and personalize treatment based on the patient’s brain activity.
It’s said to be the first adaptive deep brain stimulation system for people with Parkinson’s disease, according to Medtronic.
“We made the very forward-looking but hard decision because we had to invest and it was going to take some time, to invest in that technology to get it to market,” Wall said.
“And it was exactly what was needed in order to succeed.”
Former Boston Scientific Employee
Wall has lived in Orange County for nearly three decades.
Prior to Medtronic, he was president of the neurovascular and international operations at global healthcare products company Covidien before it was acquired by Medtronic for $42.9 billion in 2015.
Throughout Wall’s career, he has lived in various places in the world.
While at Boston Scientific, Wall resided in Singapore, where he was director of marketing for the company.
“We were expanding and building out those markets, and that was a really great learning experience,” Wall said.
He started out as a sales representative early in his career, which he said helped him learn how to work with a large variety of people.
His first job out of college was at Coca-Cola, where his division was sold and every employee was let go.
The setback ended up working out for Wall, whose boss was contacted by medtech company CR Bard, which is now part of Becton, Dickinson and Co., and recommended Wall for the role.
“I thought, ‘This is what I really want to do,’ and I just never looked back,” Wall said.
Giving Back to the Community
Wall grew up in a rural farm town in Nebraska with about 1,000 people.
“Thankfully, I had people that took an interest in me besides my parents that gave me opportunities and supported me to do different things,” Wall said. “I’ve never really forgotten that.”
Wall believes that in order to live in a thriving community, you need to invest in the youth.
It’s why he joined local organizations such as CEO Leadership Alliance Orange County (CLAOC) and business accelerator Octane.
CLAOC is a group of more than 50 CEOs who say they’re interested in solving some of OC’s most pressing problems. Among its members are Annette Walker, president of City of Hope Orange County, and Palmer Luckey, founder of $30.5 billion valued Anduril Industries.
Wall said that CLAOC has supported young people to intern at Medtronic and gain exposure to the broader business of medical devices.
He also serves on the board executive committee for Octane.
He recently moderated a discussion on the past, present and future of the neurovascular industry in OC at Octane’s Neuro Tech Forum, where he interviewed industry experts such as Robert Rosenbluth, president of medical device incubator Inceptus Medical.
“All of us had been involved in Orange County startups or had been a physician, but it was a lot of fun to tell the broader community of entrepreneurs about how our journeys unfolded,” Wall said.
Increasing Competition in Urology Space
Another area of care that Medtronic has been investing in as of late is urology, where it has long been a leader in the space.
“There’s competition there now, which is great,” Wall said.
A well-known rival is Irvine-based Axonics Inc., a maker of medical devices to treat incontinence. The company, founded by Raymond Cohen, was sold to Boston Scientific for $3.7 billion last November. Cohen was the keynote speaker at the Sept. 10 event.
The two companies were involved in a patent infringement case that started in 2019 when Medtronic filed a lawsuit against Axonics. The matter has since been settled confidentially, according to the company.
The settlement “includes a confidential payment from Boston Scientific to Medtronic and enables both companies to focus on serving patients,” a spokesperson for Medtronic told the Business Journal.
“I think we’ve landed in the right place for both companies,” Wall said.
Besides Axonics, there’s been other companies breaking into the space such as Bright Uro Inc., which received FDA approval in April for its wireless, catheter-free device that measures bladder pressure for urodynamic monitoring.
At Medtronic, Wall said that they’re developing a new implantable device that fits under the skin near the ankle.
The procedure takes just 15 minutes, and once implanted, the device will help regulate overactive bladder symptoms. It’s currently awaiting approval.
Approval of the device would be a “significant advancement” for people with overactive bladders, according to Wall.
“What happens is people end up staying at home,” Wall said. “They don’t really want to go out and engage in public because of the social stigma along with it.”
The device is designed to last up to 15 years and needs to be recharged once a year.
