MedTech 100 roundup: Up-and-down week for industry

Medtech stocks highlighted the topsy-turvy nature of the market last week, but ultimately finished the seven days nearly unchanged.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 89.77 points at the end of last week (Aug. 14). Overall, medtech stocks saw a 0.13% increase from the 89.65-point total at the same time a week prior (Aug. 7).

On Aug. 13, the index reached 90.4 points, a total that nearly poked past the previous mid-pandemic high (90.45), which came just last week.

The most recent high mark represents just a -2.1% dip from the Feb. 19 high point of 92.32, while the tally at the end of the week marks a -2.8% decrease from that pre-pandemic high.

Meanwhile, the S&P 500 Index saw a 0.64% increase from Aug. 7 to Aug. 14, and the Dow Jones Index fared even better, rising 1.8% over the same period of time.

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

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Vietnam’s Vingroup to supply ventilator parts to Medtronic

Vingroup will produce core components for Medtronic’s Puritan Bennett 560 ventilator [Image courtesy of Medtronic]

When Medtronic (NYSE:MDT) announced in April that it had tapped Foxconn to manufacture ventilators at the Chinese company’s Wisconsin plant, then-Medtronic CEO Omar Ishrak said that Medtronic is also working with “major players” in Asia to expedite ventilator production.

This week, Vietnam’s largest conglomerate, Vingroup, announced that it had inked a deal for two of its companies — VinSmart and VinFast Manufacturing and Trading — to supply 50,000 ventilator parts to Fridley, Minn.-based Medtronic in the U.S. and Ireland over the next year. The deal went into effect in June, Vingroup said in a statement this week.

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


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