MEDICAL DEVICE TOP 50
The medical device sector continues to post healthy gains. The sector comprises medical device, medical equipment, capital equipment and medical technology companies. The 10% revenue uptick from 2016 was followed by 2017’s 11% rise, with the Top 50 company revenue totaling $365B, up 11% from $329B, in 2016. All but five of our Top 50 companies experienced a revenue increase from 2016. Abbott moved up into the top 10 with its purchase of St. Jude last year, bumping Baxter off the list.
Medtronic remains on top of this list as it continues to digest and integrate Covidien. (You can see that the EvaluateMedTech report in this issue suggests Medtronic will continue to lead through 2024.) The biggest deal of this year remains Beckton Dickinson’s $24B purchase of C.R. Bard. Other notable deals include: Cardinal Health’s acquisition of Medtronic’s patient monitoring and recovery business for $6.1B, Hologic’s acquisition of Cynosure for %1.7B, and Teleflex’s purchase of Vascular Solutions for $1B.
Here is a snapshot of the Top 50, ranked by 2017 revenue. As always, we have tracked movement up and down the list with regard to both ranking and revenue changes as compared with 2016. Companies are ranked by their 2017 medical revenue as furnished by their annual reports and publicly available sources, Edgar and Morningstar stock information websites (figures of non-U.S. companies were converted to U.S. dollars from various currencies using end of the year exchange rates for 2017 and 2016). Medical device, equipment, and medical technology revenues were extracted from reports to create an equal playing field. We also revised 2016 earnings to align “apples to apples” revenue reporting with 2017 figures. Companies that had revised 2016 revenues from our last year’s report include: Getinge, Ship Healthcare Holdings, Varian Medial Systems and Nihon Koden. Additionally, 2017 Becton Dickinson revenue does not reflect the C.R. Bard acquisition pending the release of their 2018 annual statement.
Illustration Credit: HS&M