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 […]
supply chain
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 […]
Medtech CEOs sound off on semiconductor shortage, pushing Biden administration for prioritization
AdvaMed continues to push the Biden administration to prioritize medical device manufacturers for semiconductor supplies. With medtech companies still struggling to source chips amid a global shortage, the industry association held a meeting this week with some of its members and Secretary of Commerce Gina Raimondo to make their case. “Semiconductor chips are crucial to […]
Intuitive eyes sole-source suppliers as it expands capacity
Top executives at Intuitive Surgical (Nasdaq: ISRG) have sole-source suppliers on their minds as they ramp up manufacturing capacity in the face of continued supply chain challenges. The robotic surgery technology developer’s growth and mindfulness of supply chain resiliency could bring new opportunities for Intuitive’s suppliers — along with competition from others who want in. […]
How medtech is tackling supply chain challenges
Join us at DeviceTalks Boston on May 10-11 to hear how medical device companies are propping open supply lines and ensuring a steady flow of products to customers in a constantly changing world. Sharing best practices is more important than ever because supply chain challenges aren’t expected to diminish post-pandemic. That’s because superstorms, fires, droughts and other extreme […]
Moody’s warns of continued supply chain and labor problems for medtech
Moody’s warned investors that supply chain disruptions and healthcare worker shortages will continue to pressure medical product and device companies in 2022. The good news from the Moody’s Healthcare Quarterly report? The supply chain issues are manageable, with Moody’s estimating that transportation costs average less than 3% of revenue for most large, rated device companies, […]
Medtronic CFO offers supply chain update as medical device industry concerns mount
Medtronic (NYSE:MDT) was among the participants in a White House semiconductor summit last week to address the continuing global shortage of electronic chips. Still, CFO Karen Parkhill says the world’s largest medical device manufacturer is not in the same dire straits as chip buyers in other industries. Medtronic’s supply chain is “holding up OK, but […]
FDA seeks expanded authority to boost medical device supply chain
The FDA announced as part of its annual budget proposal that it will seek $21.6 million for a new Resilient Supply Chain and Shortages Prevention Program (RSCSPP). Funding from the RSCSPP for the Center for Devices and Radiological Health (CDRH) will provide — the FDA says, for the first time — resources to establish a […]
