The conventional wisdom that healthcare companies are immune to economic turmoil has gone the way of subprime derivatives and credit default swaps, as reduced consumer spending and tight credit markets have squeezed even the most “recession-proof” industries.
But there are signs of hope for medical device and diagnostics companies, as nervous investors seek quicker returns than pharma or other life science firms can offer.
Experts say the local job market for medical device professionals remains comparatively strong, despite the downturn, and the New England device industry remains an attractive target for government grants and other efforts to stimulate innovative sectors of the economy.
The big picture