Medline Industries Inc. Archives - Medical Design Sourcing

These 10 medical device companies have the most revenue per employee

[Image from Unsplash]One way to measure medical device companies’ efficiency is to calculate revenue per employee.

While compiling corporate data for MassDevice and Medical Design & Outsourcing‘s recent Medtech Big 100 report on the largest medical device companies, we took the companies reporting headcounts. Then, we divided the revenue by the number of workers.

When it comes to revenue per employee among medtech companies, three dynamic and growing companies top the list: Hologic, Medline Industries and Intuitive.

Below are the top 10 medical device companies regarding revenue per employee. (And read the full Big 100 report here.)

Company Rev/Employee Hologic* $886,976 Medline Industries $673,333 Intuitive $583,080 Henry Schein $574,121 Owens & Minor $565,625 Carl Zeiss Meditec $563,700 Masimo $563,251 Abiomed $515,104 Insulet $477,739 Accuray $477,677

* Note: Hologic doesn’t report its Q4 earning…

What are the largest medical device companies?

Medtronic, Johnson & Johnson MedTech and Siemens Healthineers top the Big 100 list of largest medical device companies by revenue.

The 2022 edition of MassDevice and Medical Design & Outsourcing‘s Big 100 report also holds surprises. Big conglomerates are spinning out medtech businesses as stand-alone companies, and that means changes to the list of 100 largest medical device companies.

Colfax, for example, engaged in business moves that turned DJO’s parent into Enovis, a large, stand-alone orthopedic device company that is No. 56 in 2022’s Big 100. ZimVie, formerly Zimmer Biomet’s spine and dental business, is 69th. And after decades under larger corporate umbrellas, Cordis debuts at No. 76 on the list.

We collected thousands of data points to size up the industry’s publicly traded companies and privately held firms. The Big 100 includes annual revenue, R&D spending, employee counts, key leaders, headquarters locatio…

Henry Schein hires former Medline veteran to drive ‘One Distribution’ push

Dirk Benson is chief commercial officer of Henry Schein’s North American Distribution Group. [Photo courtesy of Henry Schein]Henry Schein (Nasdaq:HSIC) today named Dirk Benson as VP and chief commercial officer of the medical device manufacturer and distributor’s North America Distribution Group (NADG).

Melville, New York-based Henry Schein is the world’s largest provider of health care supplies and services for office-based dental and medical practitioners, and NADG is the company’s largest business group.

The role of chief commercial officer is new at NADG. In it, Benson will drive Henry Schein’s “One Distribution” initiative, which the company called a “critical element” of its 2022-2024 Bold+1 strategic plan.

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

Medline Industries revenue up nearly 15% in 2021

Medline Industries’ sales grew nearly 15% to $20.1 billion last year as the medtech manufacturer and distributor added more than 230 additional healthcare providers to its prime vendor partnerships.

The new relationships, announced today, were worth nearly $2 billion in annual, incremental sales of medical supplies and services spanning the care continuum. The new health provider partnerships included Northwestern Medicine in Illinois, Rochester Regional Health in New York, Kelsey-Seybold Clinic in Texas, Windsor Lane Health Care in Ohio, Ochsner Health in Louisiana, and Golden LivingCenters in Indiana.

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

Teleflex completes respiratory asset sale to Medline

Teleflex (NYSE:TFX) announced that it completed the divestiture of a significant portion of its respiratory business to Medline Industries.

Wayne, Pa.-based Teleflex announced last month that it agreed to sell a significant portion of its respiratory business to Medline for $286 million, reduced by $12 million of working capital to be retained by Teleflex. The respiratory product lines being divested to Medline include Teleflex’s Hudson RCI products oxygen and aerosol therapy, active humidification, non-invasive ventilation and incentive spirometers, which together generated $139 million in revenue in 2020.

The company expected the divested respiratory product lines to contribute net revenue equal to the previous year’s $139 million for 2021. Teleflex expects 2021 headwinds for revenues between $28 million and $32 million and adjusted EPS between 10¢ per share and 15¢ per share. The company maintains its current 2021 adjusted EPS guidance range, hav…

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.

Teleflex selling some respiratory assets to Medline

Teleflex (NYSE:TFX) announced today that it agreed to sell a significant portion of its respiratory business to Medline Industries for $286 million.

Total consideration for the sale amounts to $286 million, reduced by $12 million of working capital to be retained by Teleflex, according to a news release. Assets set to be divested generated revenues of $139 million in 2020, while Teleflex expects 2021 headwinds for revenues between $28 million and $32 million and adjusted EPS between 10¢ per share and 15¢ per share. The company maintains its current 2021 adjusted EPS guidance range, having announced restructuring plans in last month’s first-quarter earnings report.

Wayne, Pa.-based Teleflex’s respiratory product lines being divested to Medline include its oxygen and aerosol therapy, active humidification, non-invasive ventilation and incentive spirometers. The companies expect the acquisition to close in the third quarter of 2021.

Teleflex pla…

MedTech 100 roundup: Industry skies to all-time high

The medtech industry hit a slight lull in the early stages of 2021 and, after signs of a rebound, it has soared beyond levels ever before seen.

MassDevice‘s MedTech 100 Index had been building up steam in the month of April, rising from 102.16 points at the beginning of March all the way to 109.39 to end the week before last (April 9). Having only set its previous all-time best of 110.96 on Feb. 15, the industry’s topsy-turvy run gave no indication of which direction it was heading next.

However, after the rise over the past couple of weeks, the industry rode that wave to a new all-time high of 112.25 to end last week on April 16. That represents a 2.6% rise from the previous week’s tally.

Improvements continue to shine a light on the strong position the industry has settled into a year on from the height of the COVID-19 pandemic’s impact on medtech, as the industry has produced an 21.6% rise from the pre-pandemic high of 92.32 (set on Feb. 1…

DTW Podcast: How is Zimmer Biomet waging the ortho data war? Do medical devices carry physics-based biases?

This week’s DeviceTalks Weekly Podcast guests

In this week’s DeviceTalks Weekly Podcast, Liane Teplitsky, vice president and general manager of worldwide robotics at Zimmer Biomet, shares her excitement for the burgeoning data business emerging in orthopedics.

Teplitsky, an engineer who built her medtech career in cardiac R&D and sales at St. Jude and Abbott, walks us through the interconnected offerings of Zimmer’s ZB edge suite of digital and robotics technologies.

In a separate interview, we talk with Achuta Kadambi, assistant professor at the UCLA Samueli School of Engineering, about a column he contributed to Science suggesting physics may be causing medical devices to perform at varying levels in people of different races.

Kadambi explains his own work in the field and suggests how medical device developers may want to move forward in the future.

See our initial report in Medical Design and Outsourcing here.

Chris New…

How big medtech fared during a year of COVID-19

[Image from Unsplash]Despite numerous challenges, the medtech industry showed itself to be fairly recession-proof in 2020, according to a Medical Design & Outsourcing/MassDevice 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, Stryker, Teleflex and Zimmer Biomet.

Get the full s…

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.

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

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.