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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 for the rest of the year, according to Newitter “It plateaued and actu…

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

[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…

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, …

Teleflex beats the Street in Q4 results

Teleflex (NYSE:TFX) posted fourth-quarter results that beat the consensus forecast on Wall Street.

The Wayne, Penn.-based company reported profits of $76.1 million, or $1.62 per share, on sales of $711.2 million for the three months ended Dec. 31, 2020, for a bottom-line loss of -29.7% sales growth of 4.44% compared with Q4 2019.

Adjusted to exclude one-time items, earnings per share were $3.25, 20¢ ahead of the Street, where analysts were looking for sales of $687.7 million.

“Due to the COVID-19 pandemic, 2020 was a difficult year for Teleflex. However, during the fourth quarter our business performed better than we expected, as trends continued to improve across many of our product categories and geographies,” president and CEO Liam Kelly said in a news release.

“In addition to the significant sequential improvement in our constant currency revenue performance that we experienced in the fourth quarter, I am also very pleased to see t…

The worst catheter-based device recalls of 2020

Top: Teleflex Langston Dual Lumen catheter; Bottom: BSX Imager II, Endologix Ovation iX, Teleflex AC3 Optimus Intra-Aortic balloon pump

The U.S. saw nine serious medical device recalls related to catheters in 2020 — up from four the previous year, according to the FDA.

FDA in 2020 reported a total 33 medical device recalls at its most serious Class I level, down from 49 in 2019.

The list of the most serious catheter-based device recalls in 2020 includes products from major companies including Medtronic and Teleflex, and catheters ranging from congenital heart treatment devices to contrast material delivery devices.

Here are the nine most serious catheter-based device recalls of 2020.

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The worst catheter-based device recalls of 2020

Top: Teleflex Langston Dual Lumen catheter; Bottom: BSX Imager II, Endologix Ovation iX, Teleflex AC3 Optimus Intra-Aortic balloon pump

The U.S. saw nine serious medical device recalls related to catheters in 2020 — up from four the previous year, according to the FDA.

FDA in 2020 reported a total 33 medical device recalls at its most serious Class I level, down from 49 in 2019.

The list of the most serious catheter-based device recalls in 2020 includes products from major companies including Medtronic and Teleflex, and catheters ranging from congenital heart treatment devices to contrast material delivery devices.

Here are the nine most serious catheter-based device recalls of 2020.

Next >>

MedTech 100 roundup: Ringing in the New Year with another high

For the third time in the past four weeks, stocks within the medtech industry climbed to never-before-seen heights as 2021 reared its head.

Previous highs have largely been a result of the FDA granting Moderna emergency use authorization for its vaccine candidate and its subsequent rollout to the U.S., joining the one made by Pfizer (NYSE:PFE) and BioNTech (NSDQ:BNTX), which began to be administered last month.

With the industry plugging along, MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week at 104.67 (Jan. 1), marking its highest-ever total and a 1% uptick from the 103.63 points registered at the end of the week prior (Dec. 25, 2020).

A slight downturn came after the index hit a new high (100.75) on Dec. 4, 2020, beating the mark of 100.65 set on Nov. 9 and setting a new all-time high since the index started being recorded on Jan. 1, 2001. However, stocks have continued to rise …

MedTech 100 roundup: Industry hits another mid-pandemic high

Despite a minor regression week-over-week, the medtech industry’s stocks hit another milestone as the COVID-19 rebound remains in progress.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 89.01 points at the end of last week (July 31). Overall, medtech stocks saw a -0.3% increase from the 89.29-point total at the same time a week prior (July 24).

On July 30, the index reached 90.37 points, marking its highest point since that pre-pandemic high, with the previous mid-pandemic high (90.11) coming last week.

The most recent high mark represents just a -2.1% dip from the Feb. 19 high point of 92.32, marking the smallest margin of decline over the past five months.

Meanwhile, the S&P 500 Index saw a 1.7% increase from July 24 to July 31, and the Dow Jones Index posted a -0.2% drop over the same period of time.

Medtech’s lowest point during the COVID-19 pandemic remains at …

Teleflex slides on revenue, profit dips in Q2

Teleflex (NYSE:TFX) shares fell today despite second-quarter results that came in well ahead of the consensus forecast.

The Wayne, Pa.-based surgical and critical care device maker posted profits of $11.5 million, or 24¢ per share, on sales of $567 million for the three months ended June 28, 2020, for an 86.3% bottom-line slide on a sales decline of 13.1%.

Adjusted to exclude one-time items, earnings per share were $1.93, 68¢ ahead of Wall Street, where analysts were looking for sales of $537.9 million.

According to a news release, Teleflex estimates that the COVID-19 pandemic and the resulting delays of elective procedures impacted revenue by approximately $130 million, or 20%.

The company also announced a workforce reduction plan that it expects to complete in 2020, with anticipated restructuring charges of between $10 million and $13 million related primarily to termination benefits. Teleflex expects plan-related savings of between $11 million …

Teleflex announces $500m offering

Surgical and critical care device maker Teleflex (NYSE:TFX) announced today that it commenced a private offering of senior notes worth $500 million.

The Wayne, Pa.-based company is offering the $500 million in the form of senior notes due in 2028, with interest rate and other terms of the notes to be determined at pricing.

Each of Teleflex’s existing and future wholly-owned domestic subsidiaries that is a guarantor or other obliger under its credit agreement will be guaranteeing the notes, according to a news release.

Teleflex said in the release that it plans to use the net proceeds collected in the offering to repay borrowings under its revolving credit facility.