Top R&D innovators in med tech

ThinkstockPhotos-169280045Devicemakers didn’t hold back when it came to R&D in 2015. The industry’s top companies spent a total of $11.670 billion developing new devices and diagnostics last year, an 8% increase from 2014.

For some companies, the commitment to R&D came amid struggle. Johnson & Johnson ($JNJ), facing the decline of its medical device business, concentrated on product development and high-growth areas to power to a turnaround.

Boston Scientific ($BSX) also turned to R&D to revive itself after a few disappointing quarters. At least for now, it seems to be succeeding: A majority of the company’s units posted double-digit growth in the first quarter, giving the Massachusetts device giant extra ammo for dealmaking and product development.

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About Peter Coffaro 1060 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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