EXHIBIT 12.1

MEDTRONIC, INC. COMPUTATION OF RATIO OF
EARNINGS TO FIXED CHARGES

The ratio of
earnings to fixed charges for the nine months ended January 25, 2008 and the
fiscal years ended April 27, 2007, April 28, 2006, April 29, 2005, April 30,
2004, and April 25, 2003 was computed based on Medtronics historical
consolidated financial information included in Medtronics most recent Annual
Report incorporated by reference on 
Form 10-K.

|                                               |  |                                         |       |                             |   |                             |   |                             |       |                             |   |                             |   |   |       |  |   |       |  
|---------------------------------------------- |  | --------------------------------------- | ----- | --------------------------- | - | --------------------------- | - | --------------------------- | ----- | --------------------------- | - | --------------------------- | - | - | ----- |  | - | ----- | -
|                                               |  | Nine months
 
 ended
 January 25,
 2008 |       | Year ended
 April 27,
 2007 |   | Year ended
 April 28,
 2006 |   | Year ended
 April 29,
 2005 |       | Year ended
 April 30,
 2004 |   | Year ended
 April 25,
 2003 |  
|                                               |  |                                         |       |                             |   |                             |   |                             |       |                             |   |                             |  
|Earnings:                                      |  |                                         |       |                             |   |                             |   |                             |       |                             |   |                             |   |   |       |  |   |       |  
|Net earnings                                   |  | $                                       | 1,418 |                             | $ | 2,802                       |   | $                           | 2,547 |                             | $ | 1,804                       |   | $ | 1,959 |  | $ | 1,600 |  
|Income taxes                                   |  |                                         | 463   |                             |   | 713                         |   |                             | 614   |                             |   | 740                         |   |   | 838   |  |   | 742   |  
|Minority interest (loss)/income                |  |                                         |      |                             |   |                            |   |                             |      |                             |   | (1                          | ) |   | 3     |  |   | (1    | )
|Capitalized interest(1)                        |  |                                         | (2    | )                           |   | (3                          | ) |                             | (3    | )                           |   | (1                          | ) |   |      |  |   | (1    | )
|                                               |  |                                         |       |                             |   |                             |   |                             |       |                             |   |                             |   |   |       |  |   |       |  
|                                               |  | $                                       | 1,879 |                             | $ | 3,512                       |   | $                           | 3,158 |                             | $ | 2,542                       |   | $ | 2,800 |  | $ | 2,340 |  
|                                               |  |                                         |       |                             |   |                             |   |                             |       |                             |   |                             |   |   |       |  |   |       |  
|Fixed Charges:                                 |  |                                         |       |                             |   |                             |   |                             |       |                             |   |                             |   |   |       |  |   |       |  
|Interest expense(2)                            |  | $                                       | 193   |                             | $ | 229                         |   | $                           | 116   |                             | $ | 55                          |   | $ | 56    |  | $ | 47    |  
|Capitalized interest(1)                        |  |                                         | 2     |                             |   | 3                           |   |                             | 3     |                             |   | 1                           |   |   |      |  |   | 1     |  
|Amortization of debt issuancecosts(3)          |  |                                         | 9     |                             |   | 14                          |   |                             | 4     |                             |   | 1                           |   |   |      |  |   |      |  
|Rent interest factor(4)                        |  |                                         | 30    |                             |   | 34                          |   |                             | 26    |                             |   | 24                          |   |   | 21    |  |   | 18    |  
|                                               |  |                                         |       |                             |   |                             |   |                             |       |                             |   |                             |   |   |       |  |   |       |  
|                                               |  | $                                       | 234   |                             | $ | 280                         |   | $                           | 149   |                             | $ | 81                          |   | $ | 77    |  | $ | 66    |  
|                                               |  |                                         |       |                             |   |                             |   |                             |       |                             |   |                             |   |   |       |  |   |       |  
|Earnings before income taxes and fixed charges |  | $                                       | 2,113 |                             | $ | 3,792                       |   | $                           | 3,307 |                             | $ | 2,623                       |   | $ | 2,877 |  | $ | 2,406 |  
|                                               |  |                                         |       |                             |   |                             |   |                             |       |                             |   |                             |   |   |       |  |   |       |  
|Ratio of earnings to fixed charges             |  |                                         | 9     |                             |   | 14                          |   |                             | 22    |                             |   | 32                          |   |   | 37    |  |   | 36    |  
|                                               |  |                                         |       |                             |   |                             |   |                             |       |                             |   |                             |   |   |       |  |   |       |  

|    |                                                                                                                                                                                                                                                 
|--- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(1) | Capitalized interest
 relates to construction projects in process.                                                                                                                                                                              
|    |                                                                                                                                                                                                                                                 
|(2) | Interest expense consists
 of interest on indebtedness.                                                                                                                                                                                         
|    |                                                                                                                                                                                                                                                 
|(3) | Represents the
 amortization of debt issuance costs incurred in connection with the Companys
 registered debt securities. See Note 6 to the condensed consolidated
 financial statements for further information regarding the debt securities.
|    |                                                                                                                                                                                                                                                 
|(4) | Approximately one-third of
 rental expense is deemed representative of the interest factor.                                                                                                                                                     

---