Medtronic sits at the top of the medtech mountain in terms of employment, market cap and sales. But how have employment levels of other top companies changed since 2009?
There are several headwinds making it tough going for medtech companies but largely because of mergers and acquisitions activity, employment levels at the largest device companies are on an upward trajectory.
An analysis by Evaluate MedTech, the publishing arm of market intelligence firm Evaluate found that while there are fewer medtech firms around courtesy of consolidation, they are bulkier in terms of headcount.
The period of analysis goes back to 2009 and only includes companies where at least 40% of overall sales is derived from medical sales. This means that Johnson & Johnson with its $4 billion divestiture of its Ortho Clinical Diagnostics business to the Carlyle Group is no longer included in the report. Also absent from the report are Zimmer, which bought Biomet, and Becton Dickinson which bought CareFusion. The deal closed too late to be included in Evaluate Medtech's 2014 analysis.
So, here's how the top 15 medtech companies stack up in terms of workforce levels between 2009 and 2014, with Medtronic with its $50 billion acquisition of Covidien at the top.
Arundhati Parmar is senior editor at MD+DI. Reach her at [email protected] and on Twitter @aparmarbb
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