Qmed rounds up the stories that attracted the most attention this year. Stories in the list describe everything from layoffs to a mechanic who became a medical device innovator.
- Three Medical Device Manufacturers with the Highest Profit Margins. Medical device manufacturers that have significant marketing, manufacturing, or regulatory benefits are often able to dominate the industry. Over the last year, three companies have stood out from the competition for their strong performance, two of which have leading positions in the market.
- Covidien Plans Layoffs and Plant Closures. In September, Covidien’s board signed off on a restructuring scheme that would involve cutting jobs, closing plants, and boosting the firm’s use of offshoring. The plan, which is designed to “drive efficiencies and improve the company's cost structure,” is expected to yield $250–300 million in annual savings by the fiscal year 2018.
Mechanic Develops Medical Device that Could Save Millions of Lives. An invention from Argentine car mechanic Jorge Odón could prevent complications or infant death during childbirth. The device was inspired by a YouTube video, which shows how to extract a cork that has pushed to the bottom of a wine bottle using a plastic bag: the bottom of the bag is inserted into the spout of the bottle, which is then inverted, so the cork is positioned near the spout. The bag is inflated and then pulled, which yanks the cork out.
The Five Top Medical Technology Companies of 2013. A mid-year round up includes firms from a range of medical device niches.
Held February 10–13, 2014, MD&M West, will feature a number of sessions dedicated to trends and technologies relevant to medical device professionals.
Boston Scientific to Lay Off Up to 1000 Employees. Boston Scientific, a medical device manufacturer based in Natick, Massachusetts, announced that it would cut up to 1000 jobs as it deals with the fallout from the United States healthcare overhaul, the Affordable Care Act and limited growth potential in some markets.
5 of the Worst Performing Medical Device Firms of 2013. The largest medical device companies have had a good run on the stock markets this year, with many clocking in double-digit percentage growth in stock prices over the past 12 months. There are always exceptions to the rule, however.
How an Engineer Made a Life-Saving Cardiovascular Device for Himself. British boiler engineer Tal Golesworthy has created an implantable device to fix a pumping problem with his heart.
Which U.S. State Is Best for Medical Device Companies? MPMN recaps some of the opinions of the best states for medtech (in no particular order), supplementing it with our own research.
Sanofi to Enter Medical Device Market. Sanofi, a French pharmaceutical company, is making a move into the medical device market. According to an article by Bloomberg News, the company is changing its focus from pharmaceuticals to overall health.
Layoff Race: Medtronic vs. Covidien. Covidien and Medtronic both announced restructuring plans in 2013 that the companies believe will save them hundreds of millions of dollars.