Significant shedding took place in the Top 30 as well. GE sold its BioPharma unit to Danaher for $21 billion. Danaher extracted its Dental business, which became independent, publicly-traded Envista. Alcon formally completed its spinoff from Novartis last April. And, 3M sold its drug delivery business—excluding the transdermal portfolio—to an Altaris Capital Partners affiliate for $650 million.
Last year also saw the departure of a remarkable number of chief executives. Omar Ishrak announced his retirement after nine years at Medtronic’s helm. Abbott leader Miles White retired after a 21-year tenure—the second longest for a non-founder in today’s S&P 100. After nearly 40 years serving BD, Vincent Forlenza stepped down as CEO. Following a bout of infighting over the leader of newly formed EssilorLuxottica, Francesco Millieri became CEO of Luxottica Group and Paul du Saillant began leading Essilor International. (The search for EssilorLuxottica’s chief executive is still underway at the time of writing.) B. Braun chief execs Prof. Dr. Heinz-Walter Große (B. Braun Melsungen AG) and Caroll H. Neubauer (B. Braun Medical Inc.) also retired from the company. Hiroyuki Sasa stepped down as Olympus’ CEO, and Smith+Nephew leader Namal Nawana departed the firm after a purported dispute over his pay.
Although the COVID-19 pandemic did not begin to take hold until early this year, its effects on medtech’s largest manufacturers cannot be ignored. Thus, information is embedded in some reports about 2020 financial performance and how medtech’s largest firms have aided the fight against the virus.
We hope you enjoy reading this year’s Top 30 reports.
Editors’ note: As you read our report, please take note that while the companies are ranked according to sales reported for their most recent fiscal year, some may include non-device sales within a division, such as combination products, drug delivery, software, or device-related services. Not all companies explicitly break out the device portion of total revenues. We consulted numerous public documents and contacted company officials as needed to arrive at the best estimates. Also note that foreign currency conversions were done based on the exchange rate at the end of the fiscal reporting period being discussed.
THE TOP 30 MEDICAL DEVICE MANUFACTURERS
|2. Johnson & Johnson||$25.96B|
|4. GE Healthcare||$19.94B|
|7. Siemens Healthineers||$15.88B|
|8. Cardinal Health||$15.63B|
|11. Boston Scientific||$10.74B|
|13. B. Braun||$8.39B|
|14. Zimmer Biomet||$7.98B|
|15. 3M Health Care||$7.43B|
|22. Intuitive Surgical||$4.48B|
|23. Edwards Lifesciences||$4.34B|
|24. Dentsply Sirona||$4.03B|
|25. Canon Medical||$4.02B|
|29. Varian Medical||$3.22B|