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Hurricane Recovery Costs Vary For Medtech Firms, Q3 Reports Show

 
• By Elizabeth Orr

While several device companies said they expected only minimal financial impact from the destruction of Hurricane Maria in Puerto Rico (as well as from Hurricanes Harvey and Irma in Texas and Florida) some firms, including Baxter and Integra, anticipate losses of tens of millions of dollars, according to Q3 earnings reports.

Puerto Rico Political Map
• Source: Peter Hermes Furian/Shutterstock

Medical device manufacturers with facilities on Puerto Rico are reporting widely varying estimates of recovery costs during the current round of quarterly earnings calls. Several companies say they expect no meaningful financial impact, while others offer impact estimates ranging from $7m to $70m.

Baxter International Inc. was one of the companies worst hit by Hurricane Maria, with CEO José Almeida anticipating fourth-quarter losses of around $70 million, despite attempts to offset diminished...

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