Company: Covidien ($COV)
Headquarters: Mansfield, MA, and Dublin
Med Tech R&D budget 2012: $623 million

The bottom line: Covidien is devoting some serious cash to boosting med tech R&D spending. Consider how large a jump its $623 million in 2012 R&D spending is over the $554 million it committed in 2011, itself a huge increase from the $447 million devoted to research and development in 2010. Those efforts (combined with acquisitions) have paid off as Covidien has enjoyed revenue hikes in its endomechanical business as well as oximetry and monitoring. CEO José Almeida has promised that Covidien's ramping up of R&D spending will continue apace in 2012, with a focus on areas including drug-coated balloons for peripheral artery disease and renal denervation.

For more:
Spiking costs blunt Covidien's strong sales quarter