Medtech 100: Big Three Companies Lead From The Front With Medtech Back On Solid Growth Footing
Most Of The Medtech Top 10 Got Back To Winning Ways On Revenues With Some Unexpected Exceptions
Abbott Laboratories and Johnson & Johnson joined Medtronic in putting a clear distance between themselves and other global medtechs in the Top 10 by revenues for 2021. Post-COVID-19 procedure growth, and, for Abbott, a strong rebound in non-COVID diagnostic demand, were key drivers.
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After a summer of speculation about who will close the deal with Abcam, tech leader Danaher came out ahead and will acquire Abcam for $24 a share.
Quality issues relating to a historical acquisition have held back Philips Healthcare’s financial performance in the post-COVID phase, while market competitors have been able to chart a less bumpy path through the tail end of the pandemic. All are facing supply chain and inflationary pressures.
The annual J.P. Morgan Healthcare Conference includes presentations from major medtech companies; Some use the conference as a platform for major announcements while some just take the opportunity to explain their 2023 outlook to investors. Here are some of the highlights from the presentations first day of the meeting.