Boston Scientific won FDA approval for a new crop of implantable defibrillators and heart failure devices, helping the company move forward with sales and development of its cardiac rhythm management system.
In 2013, a number of outside forces hammered the med tech industry. While things could have been better, most of the top 10 companies in the sector still enjoyed moderate year-over-year revenue gains. Plenty of obstacles limited those positive results, however. The Affordable Care Act in the U.S. accelerated changes in healthcare industry buying habits. Insurance coverage became increasingly harder to win in 2013. And, as economic conditions remained tepid in Europe and the U.S., some of the major med tech companies embarked on cost-cutting or streamlining programs in order to boost revenue. Here, we list the top 10 med tech companies in 2013 in terms of revenue.
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Despite long-running headwinds, St. Jude Medical pulled off an increase in implanted defibrillator revenue in the first quarter, helping the company swing to a small rise in sales.
ForSight Vision5 raised $15 million in a Series C financing and completed enrollment of a Phase II clinical study to support the development of its noninvasive ocular implant therapy for eye diseases.
Abbott Laboratories posted another quarterly decline in medical device revenue, but its fast-growing diagnostics business came through yet again.
Medical device outfit TriVascular Technologies picked up $78 million as it made its Wall Street debut Wednesday, pricing below its expected range amid a prolonged slump for life sciences stocks.
Cardiac Dimensions, a privately held medical device company focused on mitral valve repair, raised $20 million in a new round of private equity financing to support expansion in European and Austrailain markets.
Molecular diagnostics company Qiagen will invest $10 million to build out manufacturing capabilities at its Germantown, MD, campus by early 2015, focusing on products for women's health and infectious disease.
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