medline industries Archives - Page 2 of 2

Medline is spending $1.5B on new distribution centers

Medline announced yesterday that it opened five newly constructed distribution centers this year and plans to complete two more in 2022.

Northfield, Illinois-based Medline opened the latest LEED-certified distribution center — set to be fully operational in the first quarter of 2022 — in Richmond Hill, Georgia as part of its healthcare resilience initiative, a national expenditure campaign including $1.5 billion in new distribution centers, manufacturing capabilities and IT upgrades.

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

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>>

Medline inks a strategic partnership with Arnot Health

Medline announced that it has forged a $40 million prime vendor partnership with New York-based Arnot Health.

As the system’s primary supplier, Medline will exclusively provide an extensive portfolio of medical supplies and services to three diverse healthcare campuses across the southern tier of New York, the company said yesterday. The two organizations will identify new strategies for enhancing patient outcomes and streamlining supply chain operations.

“Care is evolving and so should our approach to ensuring we are not looking solely at cost but overall value and impact,” Susan Houghtelling, system director of supply chain at Arnot Health, said in a news release. “Working with Medline allows us to leverage their entire scope of expertise in the areas of supply chain logistics and clinical solutions, as well as their proactive hands-on approach, to ultimately help improve our operating performance.”

MedTech 100 roundup: Significant uptick for industry

The up-and-down nature of the medtech industry continues to carry through 2021, with a recent dip now followed by a rapid ascent.

MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the week (June 11) at 109.63 points, producing a 2.5% rise from the 106.96-point mark set one week prior (June 4).

It provides a welcome sight after the industry’s progress came to a halt with a -1.4% dip the week before last. The index remains in a position to produce another upswing after demonstrating signs of picking up again when April brought the industry’s all-time best performance.

Even with setbacks that slowed the industry recently, medtech’s performance continues to reflect an overall rebound from the struggles brought on by the COVID-19 pandemic, too. The industry has registered a 18.8% rise from the pre-pandemic high of 92.32 (set on Feb. 19, 2020), plus a 76.5% increase from the mid-pandemic low…

Private equity firms making majority investment in Medline

Medline Industries will stay a privately-held, family-run medtech giant after a majority investment from private equity firms.

Blackstone, Carlyle and Hellman & Friedman are making the investment in Medline, which media reports peg at $34 billion.

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

Private equity firms making majority investment in Medline

Medline Industries will stay a privately-held, family-run medtech giant after a majority investment from private equity firms.

Blackstone, Carlyle and Hellman & Friedman are making the investment in Medline, which media reports peg at $34 billion.

Medline will continue to be family-led by CEO Charlie Mills, President Andy Mills and COO Jim Abrams will continue to lead the company — as they have since 1997 — and the senior management team will remain. The Mills family will also remain the largest single shareholder.

Medline plans to use the influx of cash to expand its product offerings, accelerate international expansion and continue to make new infrastructure investments to strengthen its global supply chain. Medline saw $17.5 billion in revenue in 2020.

“Making healthcare run better has been our focus for decades. This investment from some of the world’s most experienced and successful private investment firms will enable us to accelerate th…

Medline, Sterigenics failed to report EtO emissions to EPA, report says

Ethylene oxide (Image from Sterigenics)

Two companies that use ethylene oxide (EtO) to sterilize medical devices failed to report emissions of the toxic gas to the U.S. Environmental Protection Agency, according to a report by the Chicago Tribune.

Medline Industries and Sterigenics, both headquartered in Illinois, have also operated medtech sterilization operations in the state. Medline continues to do so, and Sterigenics decided in September 2019 not to reopen its EtO plant in Willowbrook, Ill., following a state-ordered closure in February of that year.

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

Medline Industries up for sale?

Medline Industries is looking for a buyer in a deal that could be worth $30 billion, according to a report in the Wall Street Journal.

The Journal cites “people familiar with the matter” saying that Northfield, Ill.-based Medline has hired Goldman Sachs to manage the process. The people added that the company may alternatively seek to go public or accept minority investors.

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

8 medical device companies that beat the COVID-19 pandemic and prospered

[Image from unsplash.com]

Some medical device businesses not only survived the COVID-19 pandemic but actually thrived — with many producing the medtech needed to fight the coronavirus’s spread.

Medical Design & Outsourcing recently analyzed financials for 20 of the largest medical device businesses in the world. Not only was revenue only slightly down for the 20 during 2020, but it was actually up for eight of the 20 companies.

For many of the eight companies that saw sales increase, there was a common theme: They pivoted their focus to the diagnostics imaging and personal protective equipment needed to against COVID-19.

“We had different kinds of companies that were able to benefit on some level from COVID and shutdowns,” Richard Newitter, senior research analyst at SVB Leerink, told MDO.

Overall, medtech sales declined in Q1 and Q2 but then bounced back in a V-shaped recovery fo…

How big medtech fared during a year of COVID-19

[Photo from Unsplash]

Despite numerous challenges, the medtech industry showed itself to be fairly recession-proof in 2020, according to a Medical Design & Outsourcing analysis of financials.

Annual reports recently released by 20 of the world’s largest medical device companies showed only a slight dip in revenue during 2020 — a year in which medtech held the front lines against the COVID-19 pandemic. Employment was also up slightly amongst the top earners, while R&D spending held its own.

The 20 companies included in the MDO analysis include 3M Healthcare, Abbott (medical device segment), Alcon, Align Technology, Baxter, Boston Scientific, Danaher (life sciences and diagnostics segment), Dentsply Sirona, Edwards Lifesciences, GE Healthcare, Henry Schein, Intuitive Surgical, Johnson & Johnson (medical device segment), Medline Industries, Owens & Minor, Royal Philips, Smith+Nephew, …

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.