Top 10 most successful medical device companies
“Here is a look at ProClinical.com’s 10 favourite medical device companies, charting which businesses reaped the rewards with recent revenues.
10 | Baxter International – $10.16bn
Baxter International, Inc. is a healthcare company which mainly provides products related to renal systems, as well as dialysis and IV solutions. With a sales revenue of $10.16bn, and a market cap of $26.6bn according to Forbes, it provides medical devices for a wide range of markets, from hospitals and kidney dialysis centres to nursing homes and rehabilitation centres. It was launched in 1931 by physicians Dr. Ralph Falk and Dr. Don Baxter, and became the first manufacturer of commercially available IV solutions. Today, it employs 48,000 people, and is 454th on Forbes’ “Global 2000: World’s Best Employers”.
9 | Stryker – $11.3bn
Stryker is a medical company which was started in 1941 by Dr. Homer Stryker, with the intention of filling gaps in the market for certain patients’ medical needs. The company provides services and products focused around three main areas: neurotechnology and spine, medical and surgical, and orthopaedics. Reuters reports its annual revenue form 2016 as $11.3bn, the result of a 13.9% increase from the previous year. With 33,000 employees, and 197 work sites, it finally broke the $10bn revenue barrier in 2016. It places 19th on Fortune’s “100 Best: Great Place to Work,” and 58th on Forbes’ “Global 2000: World’s Best Employers”.
8 | Cardinal Health – $12.15bn
Cardinal Health is primarily a drug wholesaler, with sales also focused around surgical equipment and gloves. According to Fortune 500, it brings in a revenue of $12.15bn. An American company founded in Dublin, Ohio, it currently employs approximately 50,000 people in almost 60 countries. It places 281st on Forbes’ “The World’s Biggest Public Companies,” with a market cap of $26bn. The company was founded in 1971, and has won awards for environmental sustainability including being named on Newsweek’s “Top Green Companies in the US 2016”.
7 | Becton Dickinson – $12.42bn
Becton Dickinson is a global medical technology company which focuses on advancing the medical world through innovation in diagnostics, medical discoveries, gene and cancer research, and the diagnosis of infectious disease. Forbes sets the company’s sales revenue at $12.42bn, with a market cap of $39.2bn. The company bifurcates into two branches: BD Medical and BD Life Sciences, accruing over 45,000 associates in 50 countries throughout the world. With headquarters in Franklin Lakes, New Jersey, and 50,928 employees, it places 227th on Forbes’ “Global 2000: Growth Champions”. Founded in 1897 by Maxwell Becton and Farleigh Dickinson, Becton Dickinson has spent over a century developing itself, driven by what it describes as “a vision to improve outcomes for patients”.
6 | Siemens Healthineers – $14.1bn
Siemens Healthineers is a separately managed branch of multinational conglomerate Siemens. With headquarters in Germany, the conglomerate orients its business around a few key areas areas: power distribution, generation, and transmission, while Siemens Healthineers centers around products and services for diagnostic and therapeutic imaging. On its own, Siemens Healthineers pulls in $14.1bn in revenue, according to ProClinical, for a company that makes, as a conglomerate, $88.35bn in sales revenue, according to Forbes. Siemens Healthineers was previously called Siemens Healthcare; its name was changed in 2016 after the restructuring that led to its corporate independence. It ranks fifth on Fierce BioTech’s “Top Companies in Medtech by 2016 Revenue”.
5 | Philips Healthcare – $16bn
Philips, a global conglomerate that is the largest lighting manufacturer in the world, has a medical branch, Philips Healthcare, which operates successfully as well. According to ProClinical, its revenue stands at $16bn. It employees 71,000 people, with goods and services in over 100 countries, though its headquarters can be found in Andover, Massachusetts. On Forbes’ “America’s Best Employers,” it places 284th, and second on Forbes’s “The 10 Companies Doing the Most to Make Their Employees Happy”.
4 | Fresenius Medical Care – $18bn
Fresenius Medical Care is a medical device company focused around providing products and services relating to kidney failure, and chronic disease. It makes, according to ProClinical, $18bn in revenue. It provides treatment for upwards of 190,000 patients in the United States, and employs over 60,000 people, becoming North America’s largest provider of renal care, according to Business Wire. With North American headquarters in Waltham, Massachusetts, it originated in Frankfurt, Germany, as a 15th-century pharmacy. It is ranked third on Forbes’ 2015 list of “America’s Best Employers”.
3 | GE Healthcare – $18.3bn
With headquarters in Chicago, Illinois, GE Healthcare is a health segment of a larger conglomerate that operates at global status. According to their 2016 annual report, they brought in a sales revenue of $18.3bn. As a company, it treats patients in over 100 countries and comes in 104th on Forbes’ “America’s Best Employers.” GE Healthcare’s involvement with the medical technology world ranges from drug manufacturing and discovery, to technology for medical diagnostics.
2 | Johnson & Johnson – $25.1bn
Having been founded in 1886, Johnson & Johnson is now a globally-recognised medical device and pharmaceutical company. ProClinical places the medical device sector of the company at $25.1bn of a company that on the whole, according to Forbes, makes $71.94bn in sales revenue. The company makes it onto several of Forbes’s lists. It is 132nd on “America’s Best Employers,”, first on “The Biggest Drug Companies of 2015”, and first on its “Top Brands: Most Trustworthy” lists. With more than 125,000 employees in over 60 countries, Johnson & Johnson professes its mission is to “help people everywhere live longer, healthier, and happier lives”.
1 | Medtronic – $29.36bn
Medtronic is, according to its own website, the “world’s largest medical technology company” – and this is backed up by its revenue figures. Founded in 1949 as a medical equipment repair shop, it has grown into a global corporation focused on producing technology for life extension, pain relief and health restoration. According to Forbes, it makes a sales revenue of $29.36bn. Headquartered in Dublin, Ireland, it employs 88,000 people. It is 215th on Forbes’ “America’s Best Employers” and 22nd on the 2015 list of “The 25 Happiest Companies to Work For”. Technologies from Medtronic are used to treat almost 40 different medical conditions.