Medtech helps lift ‘cautiously optimistic’ Maxon to record-high revenue

Maxon Group makes custom drives for medtech applications such as robotics systems. [Image courtesy of Maxon]

Medtech supplier Maxon Group recently reported record sales and cited medtech as a significant contributor, offering a “cautiously optimistic” outlook for the current financial year.

Sachseln, Switzerland-based Maxon disclosed annual revenue growth of 13% to CHF 707.7 million (roughly $815 million in U.S. currency) and a 4% increase in global headcount of 3,341 employees.

The medtech market was an “important pillar” despite market saturation for ventilators after rapid growth due to the COVID-19 pandemic, the company said in a news release. Increased semiconductor deliveries compensated for that in a market “driven by shortages in the supply of electronic components.”

Related: 5 steps to help medical device makers deal with semiconductor shortages

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