Baxter (NYSE: BAX) interim CFO Anita Zielinski will depart from the company in September, according to SEC filings. Zielinski is stepping down after less than two years at Baxter to pursue a new opportunity at Cardinal Health (NYSE: CAH), where she will succeed Mary Scherer as its chief accounting officer and SVP of finance beginning […]
Cardinal Health
Cardinal Health nearly doubles medtech profits, fueling Q4 earnings beat
Cardinal Health (NYSE: CAH) today released Q4 results that handily beat the Wall Street consensus on profits, even as it missed on revenue. The Dublin, Ohio pharmaceutical, medtech, and healthcare distribution giant also projected an EPS range for its new fiscal year that exceeded analysts’ expectations. CAH shares were up more than 4% to $248.60 […]
Cardinal Health board chair retires, successor named
Cardinal Health announced today that its board of directors appointed Patricia A. Hemingway Hall as its new chair. Hemingway Hall succeeds Gregory B. Kenny, effective immediately, after his retirement. Kenny joined the board in 2007 and became chair in 2018. During his time on the board, he supported the company through periods of transformation, Cardinal […]
Facing up to $300M in tariff costs, Cardinal Health lays off employees
Cardinal Health said today that new import taxes could cost the company up to $300 million, and that it has already held layoffs as one response. Dublin, Ohio-based Cardinal Health — the world’s ninth-largest medical device company, according to Medical Design & Outsourcing‘s 2024 Medtech Big 100 ranking — said those tariff costs will mostly […]
Cardinal Health starts construction on new Texas distribution center
Cardinal Health today announced it began construction on a new distribution center in Fort Worth, Texas. The new 340,000 ft2 distribution center will support the Dublin, Ohio–based company’s at-Home Solutions business. The company is consolidating its two existing warehouses into one larger facility to create approximately 74,000 ft2 of inventory capacity. Once the facility opens, […]
The 10 largest medical device companies
Medtronic remains at the top, but Johnson & Johnson MedTech is now a close second in the Medtech Big 100 list of largest medical device companies. Could we see a new No. 1 company in next year’s Medtech Big 100 report? Time will tell. But in the meantime, this year’s edition of Medical Design & […]
FDA issues warning letter to Cardinal Health for adulterated and misbranded medical devices
The FDA recently issued a warning letter to Cardinal Health following an inspection at one of its facilities. The inspection revealed unapproved device violations pertaining to the Monoject Leur-lock tip syringes and the Monoject Enteral Feeding Syringes, as well as quality system regulation violations. Dublin, Ohio-based Cardinal Health was found to be marketing convenience kits […]
The UK wants to deliver medical supplies via drone
A new proposal from the U.K. Civil Aviation Authority (CAA) sets out a plan for medical supply delivery through drone operations. These proposals are part of the U.K. Future Flight Programme and seek to expand drone capabilities by permitting operations beyond remote pilots’ visual line of sight (BVLOS). The proposed measures involve drones operating at […]
How GLP-1s tanked and reshaped the medtech stock market in 2023
Analysts weigh in on how the GLP-1 craze caused one of the biggest swings in the medtech stock market in recent years.
In a tumultuous year for the medtech industry, the combination of strong sales growth and promising clinical trial results from glucagon-like peptide 1 agonists (GLP-1s) created a seismic shift in the medtech stock market, triggering one of the largest dips in market value that analysts have seen in years. While analysts said the medtech stock market […]
How does medtech CEO compensation compare?
Medtech CEO compensation averaged $10.5 million during the companies’ most recent fiscal years. That number from our recent MassDevice analysis may seem like a lot to an average person — but not as much in the world of corporate CEOs. In fact, the average compensation of S&P 500 company CEOs was $25.2 million in 2022, […]
BD recalls more Alaris pumps due to compatibility issues with Cardinal Health syringes
The FDA determined that another recall of BD Alaris infusion pumps is Class I, the most serious kind. In the latest Alaris recall, the company cites compatibility issues with Cardinal Health Monoject syringes. The issue mainly relates to changes made to the products by Cardinal Health. It affects more than 1 million total devices. BD’s […]
