Medline Industries Inc. Archives - Medical Design Sourcing

Medline enters deal to acquire Ecolab’s global surgical solutions business

Medline today announced it entered into a definitive agreement to acquire Ecolab’s global surgical solutions business.

Upon closure of the deal, the acquisition will give Medline access to Ecolab’s Microtek product lines, sterile drape solutions for surgeons, patients and operating room equipment and Ecolab’s fluid temperature management system.

The company said it wants to “build on the deep legacy” of the Microtek brand by combining the reputation for innovation and reliability in these categories using Medline’s commercial footprint, market-leading supply chain capabilities and manufacturing expertise.

“We are pleased to have the opportunity to acquire a leading portfolio of operating room products with such a strong reputation for protecting patients and healthcare workers,” Medline President and Chief Operating Officer Jim Pigott said in a news release. “With our commercial capability and focus on operational exce…

What are the largest medical device companies?

Medtronic, Johnson & Johnson MedTech and Siemens Healthineers again lead the Medtech Big 100 list of largest medical device companies.

However, there is so much more to Medical Design & Outsourcing and MassDevice‘s 2023 edition of the Medtech Big 100 report. We pulled thousands of data points to provide information on annual revenue, R&D spending, headcount, CEOs and key leaders, headquarters locations and descriptions of each of the 100 largest medical device companies.

Senior Editor Danielle Kirsh’s analysis shows that even as the largest medtech companies engaged in layoffs over the past year, they also made a bet on innovation to boost future growth: R&D spending increased nearly 13% to $26.4 billion. (Read the full story on MDO.)

In addition, the full Medtech Big 100 list includes already completed medtech company spinoffs such as Embecta , GE HealthCare and ZimVie.

Read the full Medtech Big 100 report to find out …

Medline is having a leadership transition at the top

Medline’s incoming CEO Jim Boyle (left) and incoming President and COO Jim Pigott (right).

Medline announced today that it is promoting from within to fill CEO and president positions opening up at the privately-held medtech giant.

Jim Boyle is taking over the corner office at Medline, effective Oct. 1. Boyle has been at Medline since 1996 and has served as EVP since 2018, managing the company’s customer base of over 5,000 healthcare providers. Meanwhile, Jim Pigott will become president and COO. Pigott joined the company in 1992 and, most recently, was EVP, in charge of strategy and execution of Medline’s 27 product divisions and their 20 manufacturing sites and 14,000 employees.

After more than 26 years of leadership, Charlie Mills (CEO), Andy Mills (president) and Jim Abrams (COO) will retire from their current roles. They’ll continue to play important roles in the company, however, with Charlie Mills as board chair and Andy Mills and Abram…

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…