In the ever-changing world of medtech, those who are leading the companies are bound to move around a bit. At the end of last year, we compiled a list of medtech’s biggest personnel changes in 2021. So far in 2022, we’ve already seen a slew of major moves involving some of the space’s most powerful […]
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How medical device companies are responding to abortion bans
Days after the U.S. Supreme Court’s decision to overturn Roe v. Wade’s protection of abortion rights, medical device companies are among those reassuring workers about healthcare access. Corporate communications to employees and the public at large come as trigger laws in nearly half of the states outlaw abortion immediately. Some medtech companies are not using […]
3M Health Care Business president is leaving this year
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, […]
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 […]