Company: Siemens Healthcare
Headquarters: Frankfurt, Germany
Med Tech R&D budget 2012: $1.7 billion
The bottom line: Med tech research and development spending for this division of the German conglomerate Siemens ($SI) grew steadily in fiscal 2012, compared to $1.6 billion in fiscal 2011 and $1.5 billion in R&D spending for the sector in 2010. Siemens hit the top spot on our list while it continues "Agenda 2013," a reorganization that involves job cuts, a realignment of its radiation therapy business unit and a focus on developing diagnostics to help reduce healthcare costs. Those R&D efforts blossomed in 2012, including the FDA clearance of its Magnetom Spectra 3 Tesla MRI system, which is designed to be a lower-cost competitor in the marketplace.
FDA clears Siemens' new MRI system