3M (NYSE:MMM) said yesterday that its board of directors nominated CEO Mike Roman as its new chairperson, with current exec chair Inge Thulin announcing their intention to retire. The move is slated to take effect following the St. Paul, Minn.-based company’s annual meeting of shareholders on May 14. “Under Inge’s leadership, 3M evolved into a more […]
3M closes $1B M*Modal buy
3M (NYSE:MMM) said today that it closed its approximately $1 billion acquisition of health information tech developer M*Modal. Franklin, Tenn.-based M*Modal develops cloud-based, conversational artificial intelligence-powered software platforms. The company’s products are intended to allow physicians to “capture and improve the patient narrative,” to allow them to gain more face time with the patient and […]
3M beats expectations, cuts outlook
Profits for the healthcare business at 3M Cos. (NYSE:MMM) were flat during the fourth quarter but up for the year, as the industrial conglomerate topped the consensus forecast today on a soaring bottom line. St. Paul, Minn.-based 3M said its healthcare division put up operating income of $458.0 million on sales of $1.52 billion for […]
3M touts new tape that sticks to moist skin, tubes and itself
3M said its new Durapore advanced surgical tape outperformed competitors’ products and an earlier version of its own surgical tape in tests of three key securement areas. The tests measured adhesion to tubing, adhesion to skin after moisture occurs and edge lift. In another company study of the force needed to pull a tube from sweaty, […]
3M slides on Q3 misses; sales, income down for healthcare business
3M Cos. (NYSE:MMM) shares took a hit today after the industrial conglomerate posted third-quarter results that missed the consensus forecast by wide margin and slashed its outlook for the rest of the year. The Twin Cities titan reported profits of $1.54 billion, or $2.58 per share, on sales of $8.15 billion for the three months […]
The 20 largest medical device companies in the world
The medical device industry saw even more consolidation over the past year, as evidenced by Medical Design & Outsourcing‘s newest Big 100 list. It used to be that a company had to have at least $100 million in annual revenue to make it on the list. This time around, No. 100 on the list is […]
3M Healthcare grows as parent tops Q2 forecasts, narrows earnings guidance
3M (NYSE:MMM) reported second-quarter sales and operating income growth today for its healthcare business and overall results that beat the consensus forecast, but pared the top end of its earnings outlook for the rest of the year. The St. Paul, Minn.-based industrial conglomerate posted operating income growth of 6.6% to $435 million on sales growth of […]
8 crowdfunded health devices you need to know
Companies including 3M and Aura Medical are turning to the popular websites Kickstarter and Indiegogo to get their ideas crowdfunded by people who want them to come to life. The idea behind a crowdfunding website is that if you back the project and donate a certain amount of money, you’ll get something in return, oftentimes […]
How can the medical device industry become more inclusive?
The medical technology industry has a gender diversity and inclusion problem – and these executives have a few ideas about how to solve it. At DeviceTalks Minnesota 2018, a panel of experts tackled a question that has long plagued the medical device industry: How can medtech become more inclusive? (For more insight into the medtech […]
How’d they do that? 7 innovations from medical device contract manufacturers
Charles Darwin wrote, “In the long history of humankind (and animal kind, too) those who learned to collaborate and improvise most effectively have prevailed.” Medical device manufacturers get the credit for many innovations, but many need the ingenuity and commitment of contract manufacturers who design and produce the components that make those big splashes possible. […]
Bronchoscopes still dirty after cleaning, study says
A new study has found that currently acceptable methods of reprocessing reusable bronchoscopes left most devices contaminated and damaged. “The results are worrisome as patients undergoing bronchoscopy are commonly at high risk for infection due to transplant status, critical illness, or immune-suppression due to malignancy or chronic disease,” said the study, funded by 3M and […]
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