Medtronic's (NYSE:MDT) one of the most well-known names in the medical device industry -- and for good reason. For years, this company has delivered for investors as it's ruled the top of the device industry, and its cardiovascular device sales have formed a solid core of sales.

However, the cardiac device industry has been hit with pricing pressures and tough competition lately. Even a company of Medtronic's size hasn't been able to overcome the fallout: The company's cardiac rhythm disease management segment, its largest single business division by sales, saw sales fall 2% in the company's most recent fiscal year.

Medtronic has turned to the future, embracing growing businesses that one day could power this company's success to new heights. What should you be keeping an eye on? In the video below, Fool contributor Dan Carroll shows you three of Medtronic's most promising businesses and how they could help this stock reward investors in the long run.