3M Health Care Business Group President Mojdeh Poul will retire from the company on July 1, 2022. Poul joined Maplewood, Minnesota-based 3M (NYSE:MMM) in 2011 as the global business VP of critical and chronic care solutions. She later became VP and general manager of the company’s food safety business and president of numerous 3M divisions, […]
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3M beats inflation with price hikes
Manufacturers everywhere are feeling pressure from inflation due to continued material shortages, rising logistics costs and a red-hot labor market. Maplewood, Minnesota-based 3M (NYSE:MMM) is no exception, but CEO Mike Roman said his team is seeing results from a tried-and-true solution. “We continue to navigate global supply chain disruptions, which have been amplified by recent […]
3M Health Care leads the way in Street-beating Q1
3M (NYSE: MMM) today reported first-quarter results that beat the consensus forecast on Wall Street, with Health Care turning in the best performance among the industrial conglomerate’s businesses. Maplewood, Minnesota–based 3M earned nearly $1.3 billion, or $2.26 per share, off $8.8 billion in sales for the quarter ended March 31, 2022, with the bottom and […]
3M launches 21-day adhesive skin tape for medical devices
3M (NYSE:MMM) today launched an adhesive tape that can be used to secure medical devices to a patient’s skin for up to 21 days. Maplewood, Minnesota-based 3M said its 3M Medical Tape 4576 is flexible, conformable and offers “excellent adhesion to the skin,” making it ideal for devices that need continuous extended wear both in and out […]
How medtech and pharma are responding to Russia’s invasion of Ukraine
Medtech and pharma companies continue to support Ukraine relief efforts following Russia’s invasion. Previously, the World Health Organization announced that it was sending “essential medical supplies” to Ukraine — including its first shipment of 36 metric tons of supplies for trauma care and emergency surgery and other health supplies — to meet the needs of more than […]
3M expects single-digit growth in 2022 as disposable respirator demand slows
3M (NYSE:MMM) today told investors that it is projecting single-digit growth for the 2022 fiscal year as respirator mask demand slows. The Maplewood, Minnesota-based manufacturing and material science giant said in its Virtual Strategic Update that it expects organic sales growth in the range of 2% to 5% for this fiscal year. It estimates earnings to […]
3M beats The Street in Q4 with slight growth in health care revenues
3M (NYSE:MMM) shares ticked up before hours today on fourth-quarter results that topped the consensus forecast. The Maplewood, Minnesota-based company posted profits of $1.1 billion, or $2.31 per share, on sales of $8.61 billion for the three months ended Dec. 31, 2021, for an 18.9% bottom-line slide on sales growth of 0.3%. 3M’s EPS of $2.31 […]
Baxter, 3M, Abbott near the top of Newsweek’s most responsible companies list
Several medtech, healthcare and life sciences companies, including big names like Abbott (NYSE:ABT), 3M (NYSE:MMM) and Baxter (NYSE:BAX), are among the 500 “most responsible,” according to Newsweek. The outlet published its “America’s Most Responsible Companies 2022” list, marking the third installment of the compilation (in partnership with Statista), this time expanded to include 500 of […]
The 100 largest medical device companies in the world
Nearly half a trillion dollars — $421 billion to be exact — that’s how much the world’s 100 largest medical device companies brought in over the past year amid the COVID-19 pandemic. That’s one of the big takeaways from the Big 100, MassDevice and Medical Design & Outsourcing‘s annual analysis of the worlds’ 100 largest medtech companies. (Check […]
3M beats The Street in Q3 as healthcare sales increase year-over-year
3M (NYSE:MMM) shares rose slightly today on third-quarter results that topped the consensus forecast. The Maplewood, Minnesota-based company posted profits of $1.4 billion, or $2.45 per share, on sales of $8.9 billion for the three months ended Sept. 30, 2021, for a 0.3% bottom-line gain on sales growth of 7.1%. Earnings per share registering at $2.45 […]
MedTech 100 roundup: Industry climbs with earnings season in full swing
Better-than-expected quarterly earnings are providing a further boost to medtech industry stocks. MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week (July 30) at 118.86 points. Two weeks ago aside — when the index shot up to 145.88 points and quickly tumbled down — this mark […]
