Among major medtech stocks, Intuitive Surgical, Boston Scientific and Stryker have had an especially rough week amid the Trump administration’s unpredictable tariff moves. On March 4, President Donald Trump followed through on a previous executive order by allowing 25% tariffs (taxes on imports) on Canada and Mexico to go into effect, also doubling taxes on […]
supply chain
GE HealthCare investing $80M in contrast media ingredients plant in Norway
GE HealthCare today announced it is investing $80 million to expand contrast media production capacity in Norway. The investment will go toward increasing manufacturing capacity by 30% at its active pharmaceutical ingredients site in Lindesnes, Norway. As a result, the investment will create around 100 new jobs. GE HealthCare officials have committed to addressing the […]
Cardinal Health wants to bring hospital-level care into the home
Cardinal Health (NYSE: CAH) announced today that it is launching a pilot chain supply chain network to enable hospital-level healthcare in people’s homes. The Dublin, Ohio–based medical device and pharmaceuticals supplier is launching the Velocare supply chain network and last-mile fulfillment service through a strategic partnership with Boston-based Medically Home. Early this year, Cardinal Health […]
Conmed pulls 2022 guidance due to software implementation
Conmed (NYSE:CNMD) announced today that it is withdrawing its full-year outlook over problems implementing software at its main distribution facility. Largo, Florida-based Conmed last month issued its guidance with a reduction from previous projections. This came on the back of an underwhelming third-quarter performance that saw its stock dip by nearly 8%. However, shares of […]
GE HealthCare moves to secure contrast media supply
GE HealthCare today announced a long-term agreement with Chile-based mining company SQM to secure its supply of iodine for vital imaging agents. The chemical element is a key ingredient for contrast media products. Health providers worldwide use contrast media in X-Ray and Computed Tomography (CT) procedures. The medtech giant is seeking to stabilize contrast media […]
What’s next for the medical device supply chain?
Recent hurricanes in Florida and Puerto Rico provide yet another reminder that the medical device supply chain remains vulnerable to climate change. The COVID-19 pandemic presented its challenges. But as our sister Medical Design & Outsourcing site reported last year, expect superstorms, fires, droughts and other extreme events driven by climate change to continue to […]
ResMed finds a solution to semiconductor shortage, as well as some humor in it
ResMed (NYSE:RMD) can’t go back in time to solve its semiconductor shortage, but it’s found a solution that might be the next best thing — for now. President and COO Rob Douglas (serving as interim president of Sleep and Respiratory Care at ResMed after Jim Hollingshead left to be CEO of Insulet) offered an update on […]
GE Healthcare says recovery in supply of contrast media is on the way
GE Healthcare (NYSE:GE) announced today that it is on the way toward restabilizing its global supply of iodinated contrast media — a vital imaging agent. The company said its Shanghai facility, previously closed amid COVID-19 restrictions in China, will be close to 100% production capacity by next week. Said GE: “We will continue to work […]
‘Catastrophic explosion’ and resin shortage led Medtronic’s supply chain problems
Medtronic CEO Geoff Martha today said a “catastrophic explosion” in Medtronic’s supply chain for packaging and a shortage of resins were the biggest issues hurting the company’s fourth-quarter performance. Fridley, Minnesota-based Medtronic (NYSE:MDT) reported about $350 million less in sales than analysts were expecting for the quarter, which ended April 29. Martha said about 75% of […]
AdvaMed joins Biden’s Joint Supply Chain Resilience Working Group
AdvaMed executive Abby Pratt has joined the executive committee for the Biden administration’s Joint Supply Chain Resilience Working Group, the medtech industry association said today. The working group’s members from government and industry will assist with implementation of the National Strategy for a Resilient Public Health Supply Chain. Pratt oversees supply chain issues as SVP […]
Texas power grid struggles a year after cold stopped semiconductor plants
A heatwave in Texas took at least six power plants offline Friday, with high temperatures forecasted to blaze throughout this week. A record cold snap in February 2021 took NXP Semiconductors and Samsung chip fabrication facilities offline for weeks, contributing to a global semicondcutor shortage that is still throttling medical device production. There’s no indication […]
