For 2012, the top 10 medical device and med tech companies didn't produce soaring gains, revenue-wise. Rather, their revenue increases generally took the slow and steady path.
There are exceptions, of course. Boston Scientific ($BSX), for example, saw its overall revenue decline in 2012 as the company continued to struggle with sales of interventional cardiology and cardiac rhythm management products as well as costs from restructuring and layoffs. Abbott's ($ABT) numbers also dipped as the company's vascular revenue fell off in the changing stent market, and Abbott focused on spinning off its innovative drug business into the company now known as AbbVie ($ABBV). Roche ($RHHBY), too, reported flat revenue year over year, even though its diagnostics arm continued to grow robustly, because its diabetes business faced declines and is now in the middle of a restructuring effort.
But the others, whether through focused business expansion, M&A activity or both, saw steady, if unspectacular, growth. We'll be watching closely to see whether our top 10 can either improve or best already solid numbers heading into 2013.
Our top 10 list, as compiled by EvaluateMedTech, illustrates those year-over-year gains and struggles. For many of the top companies, medical devices generate only a piece of their overall revenue. EvaluateMedTech's compilation of 2012's top 10 device companies in terms of revenue, then, carves out money made from products outside of medical device businesses.
That means Abbott's revenue numbers exclude pharma and nutritionals, for example. Covidien's ($COV) revenue listing covers medical devices and supplies, but not its pharmaceutical division. Roche's numbers involve Roche Diagnostics, minus applied science and pharmaceutical sales revenue. Johnson & Johnson's ($JNJ) robust revenue number on our list includes medical devices and diagnostics, but shuts out all other divisions of the consumer products giant. Siemens' ($SI) spot on our list covers healthcare but not any other division. The same goes for Philips ($PHG), including the company's healthcare arm, minus customer service revenue. And finally, General Electric's ($GE) revenue listing involves GE Healthcare, minus money generated by the division's molecular medicine, services and solutions arm.
Below, you'll find 2012's top 10 device companies in terms of revenue. Tell us what you think, and as always, thanks for reading.
-- Mark Hollmer (email | Twitter)
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