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3M expects single-digit growth in 2022 as disposable respirator demand slows

3M (NYSE:MMM) today told investors that it is projecting single-digit growth for the 2022 fiscal year as respirator mask demand slows.

The St. Paul, Minnesota-based manufacturing and material science giant said in its Virtual Strategic Update that it expects organic sales growth to be in the range of 2% to 5% for this fiscal year. It estimates earnings to be in the range of $10.15 to $10.65 per share. 3M’s healthcare segment expects organic sales growth to be in the “mid-single digits” for the year.

Get the full story on our sister site, MassDevice.

3M expects single-digit growth in 2022 as disposable respirator demand slows

3M (NYSE:MMM) today told investors that it is projecting single-digit growth for the 2022 fiscal year as respirator mask demand slows.

The St. Paul, Minnesota-based manufacturing and material science giant said in its Virtual Strategic Update that it expects organic sales growth to be in the range of 2% to 5% for this fiscal year. It estimates earnings to be in the range of $10.15 to $10.65 per share. 3M’s healthcare segment expects organic sales growth to be in the “mid-single digits” for the year.

With more relaxed COVID-19 guidelines across the country, 3M forecasts that the reduced demand of disposable face masks will affect its earnings per share by an estimated –45¢, or a 2% loss in organic sales growth. 3M assumes Q1 2022 will have a lower pandemic-related disposable respiratory demand of $100 million to $150 million year-on-year.

The company has been on the frontlines of combatting the COVID-19 pandemic by providing essential pe…

3M beats The Street in Q4 with slight growth in health care revenues

3M (NYSE:MMM) shares ticked up before hours today on fourth-quarter results that topped the consensus forecast.

The St. Paul, Minnesota-based company posted profits of $1.1 billion, or $2.31 per share, on sales of $8.61 billion for the three months ended Dec. 31, 2021, for an 18.9% bottom-line slide on sales growth of 0.3%.

3M’s EPS of $2.31 came in 30¢ ahead of projections on Wall Street, where analysts were looking for sales of $8.59 billion.

The company’s health care segment experienced a 0.7% revenue growth year-over-year, with a major increase (4.1%) in its consumer business. 3M’s safety and industrial arm dipped 2.2% and its transportation and electronics segment dropped 1.5%.

“3M delivered a solid fourth-quarter performance – with notable strength in December – as we maintained our relentless focus on serving customers in a challenging external environment,” 3M Chairman & CEO Mike Roman said in a news release. “Our tea…

Baxter, 3M, Abbott near the top of Newsweek’s most responsible companies list

Several medtech, healthcare and life sciences companies, including big names like Abbott (NYSE:ABT), 3M (NYSE:MMM) and Baxter (NYSE:BAX), are among the 500 “most responsible,” according to Newsweek.

The outlet published its “America’s Most Responsible Companies 2022” list, marking the third installment of the compilation (in partnership with Statista), this time expanded to include 500 of the largest public corporations around. Companies were judged with an overall score out of 100 that combined environmental, social and corporate governance performance assessments.

Get the full story at our sister site, MassDevice.

Baxter, 3M, Abbott near the top of Newsweeks’ most reponsible companies list

Several medtech, healthcare and life sciences companies, including big names like Abbott (NYSE:ABT), 3M (NYSE:MMM) and Baxter (NYSE:BAX), are among the 500 “most responsible,” according to Newsweek.

The outlet published its “America’s Most Responsible Companies 2022” list, marking the third installment of the compilation (in partnership with Statista), this time expanded to include 500 of the largest public corporations around. Companies were judged with an overall score out of 100 that combined environmental, social and corporate governance performance assessments.

Baxter, 3M, Abbott and BD (NYSE:BDX) were among the highest-ranking big-name medical device makers. Cancer diagnostic company Illumina was the highest-ranking company under the healthcare and life sciences umbrella, sitting in second behind HP.

In sixth sat Baxter, registering an overall score of 89.5 points, with its highest performance coming in environmental i…

The 100 largest medical device companies in the world

Nearly half a trillion dollars — $421 billion to be exact — that’s how much the world’s 100 largest medical device companies brought in over the past year amid the COVID-19 pandemic.

That’s one of the big takeaways from the Big 100, MassDevice and Medical Design & Outsourcing‘s annual analysis of the worlds’ 100 largest medtech companies. (Check out the full Big 100 rankings here.)

Aggregate revenue for approximately 100 of the largest medical technology companies dropped 1.2% in 2020 compared to 2019. But that’s not bad considering that the worst pandemic in a century was taking place, sparking a global recession in its wake.

Some medtech businesses that played critical roles fighting the pandemic — such as 3M’s Health Care segment and Hologic — even saw revenues increase and rose in the Big 100 rankings as a result.

Check out the full Big 100 rankings here>>

The 100 largest medical device companies in the world

Nearly half a trillion dollars — $421 billion to be exact — that’s how much the world’s 100 largest medical device companies brought in over the past year amid the COVID-19 pandemic.

That’s one of the big takeaways from the Big 100, MassDevice and Medical Design & Outsourcing‘s annual analysis of the worlds’ 100 largest medtech companies. (Check out the full Big 100 rankings here.)

Aggregate revenue for approximately 100 of the largest medical technology companies dropped 1.2% in 2020 compared to 2019. But that’s not bad considering that the worst pandemic in a century was taking place, sparking a global recession in its wake.

Some medtech businesses that played critical roles fighting the pandemic — such as 3M’s Health Care segment and Hologic — even saw revenues increase and rose in the Big 100 rankings as a result.

Check out the full Big 100 rankings here>>

3M beats The Street in Q3 as healthcare sales increase year-over-year

3M (NYSE:MMM) shares rose slightly today on third-quarter results that topped the consensus forecast.

The St. Paul, Minnesota-based company posted profits of $1.4 billion, or $2.45 per share, on sales of $8.9 billion for the three months ended Sept. 30, 2021, for a 0.3% bottom-line gain on sales growth of 7.1%.

Earnings per share registering at $2.45 saw 3M come. in 25¢ ahead of Wall Street, where analysts were looking for sales of $8.7 billion.

Get the full story at our sister site, Medical Design & Outsourcing.

3M beats The Street in Q3 as healthcare sales increase year-over-year

3M (NYSE:MMM) shares rose slightly today on third-quarter results that topped the consensus forecast.

The St. Paul, Minnesota-based company posted profits of $1.4 billion, or $2.45 per share, on sales of $8.9 billion for the three months ended Sept. 30, 2021, for a 0.3% bottom-line gain on sales growth of 7.1%.

Earnings per share registering at $2.45 saw 3M come. in 25¢ ahead of Wall Street, where analysts were looking for sales of $8.7 billion.

3M’s healthcare segment brought in revenues of $2.2 billion, marking an increase of 4.1% year-over-year. The segment’s operating income was $529 million, an increase of 7% from the third quarter of 2020.

Sales within the healthcare segment increased in food safety, oral care, health information systems and separation and purification. Revenues dipped in medical solutions, but geographically the business’ sales grew in Asia Pacific, EMEA and the Americas.

“In the face of conti…

Women researchers receive a fraction of funding from the world’s biggest medtech companies

The gender divide in medtech extends beyond leadership and into funding for investigational studies by U.S. physicians.

Only 6.7% of physicians who received research payments from the world’s largest medical device companies in 2020 were women, according to an analysis of Medical Design & Outsourcing’s Big 100 list of medtech companies and CMS Open Payments data.

Among the 20 medical device companies that fund research by U.S. physicians are 3M, Abbott, BD, Boston Scientific, Johnson & Johnson (dba J&J Surgical Vision and J&J Vision Care), Medtronic (dba Medtronic, Medtronic Minimed, Medtronic USA, Medtronic Vascular), Royal Philips (dba Philips Electronics), Stryker and Zimmer Biomet.

Together, those companies paid $3.9 million to 312 doctors in 2020, but only 21 were women, receiving a collective $402,600.

Women physicians, on average, received 15.7% of payments from each of the top medtech companies, but accounted f…

Women in Medtech 2021: Audrey A. Sherman, 3M Co. Division Scientist

Audrey A. Sherman [Photo courtesy of 3M Co.]

Audrey A. Sherman received her B.S. in chemistry from Augsburg College. Audrey has over 30 years of experience at 3M in roles working with all aspects of R&D laboratory operations, organic synthesis and condensation polymerizations. She holds 140+ U.S. patents, which earned her the honor of becoming the first woman at the company to hold 100 patents. She has been an internal 3M instructor on pressure-sensitive adhesive courses, including topics on microreplication, silicone and optical. Audrey has experience working on the scale of grams up to tons. Her technical expertise includes acrylate and silicone pressure-sensitive adhesives, release materials and the cross-linking of polymers. She works bringing technologies such as reactive extrusion processing and release liners to large-scale manufacturing polymerization processes.

What first drew you to medtech? Sherm…

Wearable devices and fragile skin: How to select the right adhesive

Design considerations are crucial when choosing an adhesive to stick wearable medical devices to fragile skin.

Del R. Lawson, 3M’s Medical Solutions Division

[Image courtesy of 3M]

Gone are the days where we had to be in the hospital to track and collect data from our bodies. We’re now able to create smaller, smarter, more accessible devices that integrate into our everyday lives. The advantage of adhering a device directly to the skin is it creates an intimate interface between the device and the wearer that enables a sensor to measure a key attribute and transfer data to the device. However, these conveniences mean new considerations for device design engineers, specifically when selecting adhesives intended to stick to fragile skin.

Skin is a major factor in the design and performance of a wearable device, but it often gets overlooked. When it comes to adhering a device to fragile skin, it’s not the s…