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Top Medtech Firms Post Gains for 2002
Erik Swain
March 1, 2003
8 Min Read
.svg?width=850&auto=webp&quality=95&format=jpg&disable=upscale "Top Medtech Firms Post Gains for 2002")
Originally Published MX March/April 2003
BUSINESS NEWS
As companies in many other industries report lackluster performance or actual declines for 2002, medical technology companies continue to buck the prevailing economic trends. According to annual reports and company releases issued since the beginning of this year, all of the top-20 publicly traded medical technology firms posted positive revenue growth during 2002 (see table).
Company | 2002 revenues(calendar year) | 2001 revenues(calendar year) | Variance(%) | 4Q02revenues | 4Q01revenues | Variance(%) |
|---|---|---|---|---|---|---|
Johnson & Johnson | 12,600 | 11,191 | 12.6 | 3,318 | 2,867 | 15.7 |
Tyco Healthcare | 9,573 | 8,587 | 11.5 | 2,005 | 1,770 | 13.3 |
GE Medical Systems | 8,955 | 8,409 | 7.0 | 2,750 | 2,629 | 4.6 |
Baxter International Inc. | 8,110 | 7,360 | 10.2 | 2,260 | 2,060 | 9.7 |
Siemens Medical Solutions | 7,684 | 7,259 | 5.9 | 1,831 | 1,770 | 3.4 |
Medtronic Inc.a | 7,310 | 6,137 | 19.1 | 1,913 | 1,593 | 20.2 |
Philips Medical Systemsb | 6,844 | 4,834 | 41.6 | 1,883 | 1,916 | -1.7 |
Abbott Laboratories | 6,652 | 6,442 | 3.3 | 1,766 | 1,732 | 2.0 |
Cardinal Health | 6,400 | 6,200 | 3.2 | 1,600 | 1,600 | 0.0 |
Becton Dickinson & Co. | 4,140 | 3,827 | 8.2 | 1,052 | 945 | 11.3 |
3M Healthcare | 3,560 | 3,301 | 7.3 | 918 | 865 | 6.1 |
Guidant Corp. | 3,240 | 2,708 | 19.6 | 896 | 719 | 24.6 |
Stryker Corp. | 3,012 | 2,602 | 15.8 | 829 | 710 | 16.8 |
Boston Scientific Corp. | 2,919 | 2,673 | 9.2 | 814 | 677 | 20.2 |
Amersham plc | 2,616 | 2,591 | 1.0 | 682 | 722 | -5.8 |
Kodak Health Imaging | 2,274 | 2,262 | 0.5 | 619 | 570 | 8.6 |
Beckman Coulter Inc. | 2,059 | 1,984 | 3.8 | 596 | 578 | 3.1 |
Smith & Nephew | 1,733 | 1,508 | 14.9 | N/A | N/A | N/A |
St. Jude Medical | 1,590 | 1,347 | 18.0 | 409 | 348 | 17.6 |
Alcon Inc. | 1,439 | 1,352 | 6.4 | 385 | 356 | 8.1 |
aFourth quarter ending January 26, 2003bSales gain attributed primarily to acquisitions. |
Year-to-year sales in-creases in this group of companies ranged from the low of 0.5% posted by Kodak Health Imaging to the acquisition-driven 41.6% of Philips Medical Systems. The average yearly gain for the group was 10.9%.
Cardiology companies were among the best performers for the year, with Guidant (19.6%), Medtronic (19.1%), and St. Jude Medical (18.0%) all posting strong gains.
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