With its $13.6 billion acquisition of Life Technologies finally wrapped up, Thermo Fisher posted huge gains in revenue and profit in its first quarter as a combined company, raising the stakes for 2014 as it plans for more growth.
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.
POPULAR COMMENT THREADS
AdvaMed is taking a wait-and-see approach on the FDA's just-released draft guidance that describes a new program known as Expedited Access PMA for groundbreaking medical devices that are intended to treat or diagnose life-threatening or irreversibly debilitating conditions.
Devicemaker Varian Medical Systems watched its net earnings fall nearly 18% in its fiscal second quarter, as a spike in R&D expenses wiped away slight gains in revenue.
Zimmer and Biomet signed a deal to combine forces and form an orthopedics giant in the $45 billion musculoskeletal industry. The companies had combined revenues of $7.8 billion in 2013.
Los Angeles-based Quantason, which was working to develop an advanced ultrasound to screen for breast cancer, filed for Chapter 11 bankruptcy protection with an eye on finding a buyer.
France's bioMérieux reported a rise in quarterly earnings of 3.3%, compared to the first three months of 2013, to $512.50 million.
Lombard Medical revived plans to go public with a revised stateside IPO. The news comes less than two weeks after the company decided to postpone its public offering, citing poor market conditions.
From Our Sister Sites
After Tuesday's precedent-setting deal announcement, today's earnings release from Novartis had to be an anticlimax. And it was: Adjectives used to describe the results were unexciting words like "solid" and "flat" and "nice" and "largely in line."
Orphan drug outfit Hyperion Therapeutics has struck up a deal to acquire Israel's Andromeda Biotech, handing over as much as $570 million in cash and stock with eyes on a Phase III diabetes treatment.