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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>>

BREAKING: GE Healthcare to become stand-alone company in 2023

GE (NYSE:GE) announced plans today to split apart into three separate companies in coming years, including a stand-alone GE Healthcare.

GE Healthcare brought in $17 billion in sales in 2020 and remains one of the 10 largest medtech businesses in the world, even after GE divested its Biopharma business to Danaher in early 2020.

Medtech M&A: The industry’s biggest mergers and acquisitions of 2021

[Image from Jp Valery on Unsplash]Across 2021, medtech has seen a wide range of mergers and acquisitions covering several areas of devices, pharmaceuticals and more.

Some have gone off without a hitch, while others fell into serious scrutiny as mouthwatering financial figures were revealed and major technologies were acquired.

Here are the 10 biggest mergers and acquisitions in medtech in 2021:

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GE rises on Street-beating Q3, raised guidance

General Electric (NYSE:GE) shares ticked up today on third-quarter results that beat the consensus forecast.

The Boston-based company posted sales of $18.4 billion for the three months ended Sept. 30, 2021, registering a year-over-year revenue decline of -0.5%.

Adjusted to exclude one-time items, earnings per share were 57¢, 14¢ ahead of Wall Street, where analysts were looking for sales of $19.3 billion.

GE’s healthcare segment registered revenues of $4.3 billion (a -5% dip year-over-year) and posted profits of $704 million for a -4.6% bottom-line slide.

“The GE team delivered another strong quarter,” GE Chairman & CEO H. Lawrence Culp Jr. said in a news release. “Orders grew, margins expanded, our overall cash performance was significantly better, and Aviation is building momentum and showing continued signs of recovery. The teams are managing through a challenging operating environment, including global supply chain disrup…

GE Healthcare unveils next-gen cardiac-dedicated nuclear scanner

GE Healthcare (NYSE:GE) today announced that it has launched its MyoSpect cardiac-dedicated nuclear scanner.

Chicago-based GE Healthcare designed the scanner to have an extended field-of-view processing with a new automated workflow. It features the company’s Alcyone technology and a CZT module design for a view of cardiac anatomy and pathology.

“Today, the need for healthcare innovation is stronger than ever,” Jean-Luc Procaccini, president and CEO of GE Healthcare’s molecular imaging and computed tomography, said in a news release. “Not only is demand for nuclear cardiac solutions increasing, but new and tough cardiac cases require a different approach to patient comfort, image quality, and workflow. That’s why we designed MyoSpect with all these factors in mind. Not only does MyoSpect offer extended field of view processing to help accommodate a greater variety of patients, but its digital CZT detectors and new automated workflow features also he…

GE Healthcare launches next-gen fixed X-ray system

The Definium Tempo fixed X-ray system [Image courtesy of GE Healthcare]GE Healthcare (NYSE: GE) today announced its next-gen Definium Tempo fixed X-ray system.

The Definium Tempo is a fixed, overhead tube suspension (OTS) digital X-ray system. Its creators designed it to be a “personal assistant” to radiologists and technologists. The idea is to leverage automation to reduce workflow burdens and help radiology departments boost patient care.

The Definium Tempo’s tube-mounted console includes functionality for patient selection, protocol selection, technique modification and positioning setup — enabling a technologist to finish all exam setup and positioning without leaving the patient’s side. There are also automatic features, including Auto Positioning, Auto Centering and Auto Tracking.

“I’ve been a technologist for over 17 years, and using this system has been unlike anything I’ve experienced before – it’s a…

GE Healthcare to acquire BK Medical and its ultrasound portfolio for $1.45B

GE Healthcare (NYSE:GE) announced today that it entered into an agreement to acquire BK Medical for $1.45 billion.

BK Medical develops intraoperative imaging and surgical navigation technology for guiding clinicians during minimally invasive and robotic surgeries, for visualizing deep tissue during procedures in neuro and abdominal surgery and in ultrasound urology, according to a news release.

The company has headquarters in Boston and Copenhagen with more than 650 employees. GE Healthcare said it acquired BK Medical from Altaris Capital Partners and that the company is delivering double-digit revenue growth. The companies expect the transaction to close in 2022.

By acquiring BK Medical, GE Healthcare expects to create value by strengthening the company through what it calls significant synergies with the benefit of GE’s technology and commercial scale.

“Ultrasound today forms an integral part of many care pathways, and BK Medical is a stra…

GE Healthcare unveils new AI-powered CT system

[Image from GE Healthcare]GE Healthcare (NYSE:GE) today introduced its Revolution Ascend with Effortless Workflow computed tomography (CT) system.

The new CT system includes a new 75 cm wide-gantry, 40 mm detector coverage and lower table position designed to accommodate high body mass index (BMI) patients and trauma cases that would otherwise be too delicate to maneuver in a smaller size gantry, according to a news release.

GE Healthcare touts the platform as capable of offering clinicians a collection of artificial intelligence (AI) technologies that automate and simplify time-consuming tasks to increase operational efficiency and free up time for clinicians to deliver more personalized care to more patients.

Effortless Workflow, a new suite of AI solutions, offers accurately personalized automatic scans for each patient while requiring less effort from the CT technologist, GE Healthcare said.

Revolution Ascend uses a dedicated, deep neural network…

GE warns of supply chain strain well into 2022

GE CEO Larry Culp [Photo courtesy of GE]Medical device makers and suppliers seeking relief from the global semiconductor shortage will have to hold on a while longer.

GE (NYSE:GE) is warning investors that supply and labor shortages are squeezing its Healthcare business this quarter, and that the pressure won’t likely let up in 2021.

GE’s Healthcare business “largely is a supply chain story right now,” GE Chair and CEO Larry Culp said this week, specifically citing semiconductors, resin and logistics as supply chain barriers to meeting “strong, if not robust” demand.

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

GE Healthcare introduces next-gen portable X-ray system

GE Healthcare (NYSE:GE) announced today that it introduced the AMX Navigate next-generation portable, digital X-ray system.

AMX Navigate includes what GE Healthcare touts as a first-of-its-kind, power-assisted free-motion telescoping column designed to reduce lift force by up to 70% and decrease technologist injury, according to a news release.

Additionally, the platform includes new workflow solutions, including “Zero Click Exam,” all designed to increase efficiency through automated workflow and a reduction in user interface interactions. It includes a barcode reader to match the patient to the worklist and an auto protocol assist feature that automatically selects the correct protocol for the patient.

While those features eliminate user clicks, the platform also integrates GE Healthcare’s QuickEnhance one-touch reprocessing for line visualization, as well as AutoGrid to improve image turnaround time without compromising image quality…

MedTech 100 roundup: Hot streak comes to slight halt

After several weeks of high-level performance, the medtech industry saw its first dip in a while over the last seven days.

MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week (Aug. 13) at 117.92 points, marking a -1.2% dip from the 119.41-point tally a week prior (Aug. 6).

Medtech’s performance continues to reflect an overall rebound from the struggles brought on by the COVID-19 pandemic, too. The industry remains well above the marks set around the height of the pandemic, having registered a 27.7% increase from the pre-pandemic high of 92.32 (set on Feb. 19, 2020). Moreover, it remains well ahead of the mid-pandemic low of 62.13 (March 23, 2020) as well, totaling an 89.8% ascent above that point.

The industry’s performance did not correlate with the overall markets this past week as the S&P 500 Index and Dow Jones Industrial Average fared almost identically, ticking up by 0.7% a…

GE Healthcare, Baxter among medtech giants inking deals with Amazon Web Services

GE Healthcare (NYSE:GE) and Baxter (NYSE:BAX) are both collaborating with Amazon Web Services for AI and cloud-based solutions.

The strategic collaborations aim to drive the companies’ digital presences forward, with GE Healthcare saying that it will work with AWS to deliver AI and cloud-based imaging solutions, integrated data and clinical and operational insights to hospitals and healthcare providers.

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