Medical device maker Medtronic (NYSE: MDT) offers investors a couple of ways to build wealth: through the stock's gains and through its dividend income. Over the past decade, the stock has risen by 55%, and when including the impact of its dividend, the total return is around 96%.

And if not for the disruption COVID caused in the healthcare industry, the stock likely would have been up even more by now. If you hang on to Medtronic for 20-plus years, could this realistically be an investment that can generate $1 million?

Medtronic has the potential to be a good growth investment because of the wide reach that its business has. The company's devices help patients with more than 70 types of health conditions. And with a presence in 150 countries, it is in an excellent position to benefit from the healthcare industry's growth in the long run.

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Source Fool.com