Five medtech companies recently won some of the top technology awards in the state of Minnesota, known as one of three major medical device hubs in the U.S. The companies competed for the Minnesota Technology Association annual Tekne Awards, which included categories ranging from artificial intelligence and machine learning to “technology for good.” Get the full story on […]
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MedTech 100 roundup: Medtech stocks stagnant over holidays
Following the medtech industry’s rapid rise early in the month, a plateau was inevitable, and that trend continued through the holiday week. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week at 98.23 (Nov. 27), marking a 0.2% uptick from the 97.99 points registered at the […]
3M names first chief equity officer
3M (NYSE:MMM) announced that it created a new leadership role to promote diversity and more, with James Momon assuming that position. Momon will join 3M on Dec. 15 as VP of equity & community and chief equity officer as 3M looks to advance diversity, inclusion, equity and social justice both inside and outside the company, according […]
The 20 largest medical device companies in the world
The information in this year’s annual Big 100 rankings of the world’s largest medical device companies is as interesting as ever. The 100 companies on this year’s list had medical device businesses bringing in a whopping $420.5 billion during their most recent fiscal years — a nearly 6% increase from the 2019 Big 100. But […]
MedTech 100 roundup: Stocks remain high after record-setting week
Medtech stocks have been on the rise since positive news regarding COVID-19 vaccines broke last week, breaking a record in the process. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week at 98.99 (Nov. 13), marking a 1.4% uptick from the 97.62 points registered at the […]
3M lands $37.5M federal mask contract
The U.S. Department of Defense announced that it issued nearly $37.5 million to 3M (NYSE:MMM) for expanded production of N95 respirators. St. Paul, Minn.-based 3M will receive approximately $37.46 million in a firm-fixed-price modification to expand the production capacity for its N95 respirators, which have been in high demand since the beginning of the COVID-19 pandemic. […]
3M slightly down despite Street-beating Q3
3M (NYSE:MMM) shares took a slight dip today on third-quarter results that finished ahead of the consensus forecast. The St. Paul, Minn.-based company posted profits of $1.4 billion, or $2.43 per share, on sales of $8.4 billion for the three months ended Sept. 30, 2020, for a -10.7% bottom-line slide on sales growth of 4.5%. Adjusted […]
3M and Eko collaborate on stethoscopes
3M (NYSE:MMM) and Eko announced today that they are collaborating to combine 3M’s Littmann stethoscope with Eko’s digital innovations. St. Paul, Minn.-based 3M’s new Littmann CORE digital stethoscope includes capabilities for clinicians to access both analog and digital auscultation options, along with amplification and noise cancellation and the visualization of sound during auscultation. 3M and Oakland, Calif.-based Eko […]
Diversity in medtech: Just 20% of executive roles held by women
Diversity in executive roles in the medical device industry is trending more toward parity, with women holding 2% more C-suite roles in 2020 compared to last year. Just 20% of executives at the 100 largest medical device companies in the world are women, and those companies average 19% female composition in the C-suite, according to […]
Report: Why is there still an N95 shortage?
The nationwide shortage of N95 respirators needed by healthcare workers and others during the coronavirus pandemic shows no indications of letting up, according to an article in today’s Washington Post. The newspaper cites a lack of inter-industry cooperation on N95 production, the Trump administration’s use of the Defense Production Act to force companies to make […]
MedTech 100 roundup: Another high as stocks tick up
For the third consecutive week, stocks in the medtech industry reached heights not yet seen since the COVID-19 pandemic began. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 89.65 points at the end of last week (Aug. 7). Overall, medtech stocks saw a 0.72% increase from […]
