Medical device companies boost guarantees to hospitals

guaranteeMedical device companies are reportedly boosting their guarantees to hospital customers, seeking to bolster flagging sales growth and downward price pressure, offering to compensate them if their devices fail to perform.

Medtronic (NYSE:MDT), Johnson & Johnson (NYSE:JNJ) and St. Jude Medical (NYSE:STJ) are among the 1st to provide the newer guarantees, some of which offer to share in the cost of follow-up treatment tied to their heart devices, company executives told Reuters. Orthopedic device companies are also mulling similar guarantees for their hip and knee implants.

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About Peter Coffaro 1430 Articles
A growth-driven and strategic executive, Peter Coffaro commands more than 20 years of progressive management success within the medical device industry. As a District Sales Manager for Stryker Orthopaedics, Peter was responsible for managing and directing a regional sales force to achieve sales and profit goals within the Rocky Mountain region. Previously, he was the Director of Sales & Marketing for Amp Orthopedics. In this role, Peter was responsible for planning, developing, and leading all sales and marketing initiatives. Peter is a former orthopedic distributor in the Pacific Northwest. He has also worked with DePuy Orthopaedics as well as Zimmer, and held positions in sales, sales training, and sales management. Peter has an extensive background in organizational development, business development, sales management, negotiating and P&L management. Peter holds a B.S. degree in Biology from Northern Illinois University.

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