These 5 medtech companies made it into the top 200 of Forbes’ best places to work list

Johnson & Johnson, Steris, Philips, Fujifilm Holdings and Boston Scientific were recently named among Forbes’ best large employers in America, based on feedback from their employees.

Forbes partnered with a market research firm to survey 50,000 Americans working for businesses with at least 1,000 employees. Survey participants were asked to rate their willingness to recommend their employer to friends and family and to nominate a business that wasn’t their own.

Johnson & Johnson (NYSE:JNJ) ranked 84 out of the full list of 500. The New Brunswick, N.J.-based company has a 4.2 out of 5-star rating on the job board website Glassdoor. Johnson & Johnson, founded in 1886, employs over 132,000 people. Its medical device segment generated $25.96 billion in revenue in 2019.

Mentor, Ohio-based Steris (NYSE:STE) ranked 105 on Forbes’s list of the best large employers in America. The company has a 3.6 out of 5-star rating on Glassdoor. …

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DTW Podcast: Zimmer Biomet slims, Corza Medical grows in pursuit of grabbing market share

In this week’s DeviceTalks Weekly Podcast, Rich Newitter, managing director at SVB Leerink, says Zimmer Biomet’s decision to spin out its spinal and dental business will accelerate its already impressive market share grab in its core orthopedics industry.

Dewitter says CEO Bryan Hanson brings a tried-and-true diversification model used by companies like his former employer, Covidien. The spinout of the spinal and dental businesses into a NewCo will allows the company to focus more resources on selling knee and hip implants as well as building out an impressive robotics franchise and a potentially sector-leading line of digital tools and sensors.

“Zimmer has effectively gone from a share loser for almost a decade leading up to when Bryan Hanson took over to a share-taking position,” he said in an interview with Chris Newmarker, executive editor of life sciences. “This most recent quarter, their share gains have widened quite dramatically.”

In …

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DTW Podcast: Zimmer Biomet slims, Corza Medical grows in pursuit of grabbing market share

In this week’s DeviceTalks Weekly Podcast, Rich Newitter, managing director at SVB Leerink, says Zimmer Biomet’s decision to spin out its spinal and dental business will accelerate its already impressive market share grab in its core orthopedics industry.

Dewitter says CEO Bryan Hanson brings a tried-and-true diversification model used by companies like his former employer, Covidien. The spinout of the spinal and dental businesses into a NewCo will allows the company to focus more resources on selling knee and hip implants as well as building out an impressive robotics franchise and a potentially sector-leading line of digital tools and sensors.

“Zimmer has effectively gone from a share loser for almost a decade leading up to when Bryan Hanson took over to a share-taking position,” he said in an interview with Chris Newmarker, executive editor of life sciences. “This most recent quarter, their share gains have widened quite dramatically.”

In …

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MedTech 100 roundup: Index rebounds from dip with another all-time high

The end of January saw the first major dip for the medtech industry but the beginning of February brought yet another peak.

MassDevice‘s MedTech 100 index ended the week (Feb. 5) at 108.23 points, marking a 4% rise from the 104.05-point mark set at the end of the previous week (Jan. 29).

The final mark for the week sets an all-time best for the index, which had previously reached 106.81 points on Jan. 8, then 107.4 points on Jan. 20. The rise has been remarkable, considering the index had never reached even the 100-point mark before November 2020.

Medtech’s latest rise means the index has risen 17.2% from the pre-COVID-19 pandemic high of 92.32, set on Feb. 19, 2020. Additionally, the industry has very much rebounded from its lowest place, a 62.13-point mark at the start of the pandemic on March 23, 2020. Since that point, the industry has jumped 74.2%.

Here are some of the best-performing medtech stocks from 2020.

Medtech’s performanc…

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3M, Abbott in top 50 of Fortune’s most admired companies list

[Photo by Guillermo Latorre on Unsplash]Medtech giants  3M (NYSE:MMM) and Abbott (NYSE:ABT) made it into the top 50 of Fortune‘s 2021 World’s Most Admired Companies list.

3M — a manufacturing conglomerate that also has one of the largest medical device businesses in the world — came in at No. 24, up from No. 29 in the 2020 list. Abbott meanwhile was No. 42, up from No. 52.

Both companies have been playing important roles in efforts to manage the COVID-19 pandemic.

3M is an important supplier of N95 masks and other protective gear for healthcare and other essential workers.

Abbott in early 2020 developed three molecular diagnostic tests for the SARS-CoV-2 virus within a 30-day time span. By the late summer, it won an FDA emergency use authorization in the late summer for its speedy BinaxNow COVID-19 Ag Card antigen test.

Other medical device companies making it into the Fortune most admired companies list include Boston Scientific (…

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MedTech 100 roundup: January ends with a dip

After spending several weeks on the ascent, medtech stocks leveled out a bit to end January, ending a run of several new highs in 2021.

MassDevice‘s MedTech 100 index ended the week (Jan. 29) at 104.05 points, marking a -2.2% drop from the 106.4-point mark set at the end of the previous week (Jan. 22).

The index had previously reached 107.4 points on Jan. 20, topping the all-time best of 106.81 points set on Jan. 8. That mark represents a 16% jump from the pre-pandemic high of 92.32 set on Feb. 19, 2020, and a 72.9% overall leap from the lowest point of 62.13 set on March 23, 2020.

However, the drop from that high point to medtech’s current position is approximately -3.1%, although the industry still remains well above its pre-pandemic high (12.7%) and its mid-pandemic low point (67.5%).

Here are some of the best-performing medtech stocks from 2020.

While medtech saw a slight decline from the previous week, both of the overall markets fared …

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3M ticks up on Street-beating Q4, strong healthcare performance

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

The St. Paul, Minn.-based company posted profits of $1.4 billion, or $2.38 per share, on sales of $8.6 billion for the three months ended Dec. 31, 2020, for a 43.3% bottom-line gain on sales growth of 5.8%.

Adjusted to exclude one-time items, earnings per share were also $2.38, 23¢ ahead of Wall Street, where analysts were looking for sales of $8.4 billion.

3M’s healthcare segment mirrored its overall business, growing 5.4% on sales of $2.3 billion. Sales grew in the Americas and EMEA, while they were flat in the Asia Pacific region.

The segment’s operating income came in at $558 million, marking an increase of 22% year-over-year.

“The 3M team delivered a strong fourth quarter with organic growth across all business groups, robust cash flow and a double-digit increase in earnings per share,” 3M chairman &…

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Biden’s COVID-19 response will make manufacturers busy

(Image courtesy of Biden for President)

Manufacturers of vaccine supplies and personal protective equipment can expect more work as the new Biden administration rolls out its plans to combat the COVID-19 pandemic.

In one of his first official acts as president, Joe Biden announced a plan to “fully use” the Defense Production Act to ramp up production of testing supplies, masks, face shields and other PPE, with an eye toward boosting American manufacturing to reduce reliance on other countries. The president also announced his intention to invest $25 billion in a vaccine manufacturing and distribution plan that will provide vaccines to all Americans, free of charge.

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

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Biden’s COVID-19 response will make manufacturers busy

[Image courtesy of Biden for President]

Manufacturers of vaccine supplies and personal protective equipment can expect more work as the new Biden administration rolls out its plans to combat the COVID-19 pandemic.

In one of his first official acts as president, Joe Biden announced a plan to “fully use” the Defense Production Act to ramp up production of testing supplies, masks, face shields and other PPE, with an eye toward boosting American manufacturing to reduce reliance on other countries. The president also announced his intention to invest $25 billion in a vaccine manufacturing and distribution plan that will provide vaccines to all Americans, free of charge.

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

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Biden’s COVID-19 response will make manufacturers busy

[Image courtesy of Biden for President]Manufacturers of vaccine supplies and personal protective equipment can expect more work as the new Biden administration rolls out its plans to combat the COVID-19 pandemic.

In one of his first official acts as president, Joe Biden announced a plan to “fully use” the Defense Production Act to ramp up production of testing supplies, masks, face shields and other PPE, with an eye toward boosting American manufacturing to reduce reliance on other countries. The president also announced his intention to invest $25 billion in a vaccine manufacturing and distribution plan that will provide vaccines to all Americans, free of charge.

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

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3M, Honeywell gain antitrust protection to boost N95 mask supply

N95 respirator [Image from the FDA]3M (NYSE:MMM) and Honeywell (NYSE:HON) are among 60 companies and trade groups sharing production, distribution and pricing information under FEMA-led efforts to secure supplies of products needed to combat COVID-19, according to a Wall Street Journal report.

The information-trading project, taking place under the Defense Production Act, is protected from antitrust scrutiny.

3M and Honeywell are major suppliers of the N95 masks that health provider staff need to properly protect themselves from the novel coronavirus as they seek to save other people’s lives. The masks remain in short supply even as the government and the companies themselves invest hundreds of millions of dollars to boost production.

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BREAKING: Big medtech suspends political contributions in wake of Electoral College vote

[Image from Unsplash]Just as they lined up to condemn last week’s attack on the U.S. Capitol, major medtech companies are suspending political contributions.

Boston Scientific announced on Sunday that it has chosen to temporarily suspend its political action committee (PAC) activity and “review our approach to future contributions.

“As we shared last week, we believe in respecting the integrity of the democratic process, the election outcome and the peaceful transition of power,” the company said in an email to MassDevice‘s sister site Medical Design & Outsourcing. “We remain committed to our values — including diversity and caring — in our work to bring meaningful medical innovations to physicians and patients who need them.”

By mid-afternoon today, Medtronic had taken a similar course, according to spokesman Ben Petok.

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

 

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