Medtronic posts profit, sales growth in Q4, agrees to buy Korean diabetes patch maker

The company is “confident in delivering durable revenue growth in the year ahead” amid continued improvements in procedure volumes.

By Peter Green • May 25, 2023

Embecta joins Tidepool to develop insulin pump, raises Q2 growth outlook

Embecta advanced its pump project by partnering with Tidepool, a nonprofit that has developed diabetes management software that can work across different brands of pumps and monitors.

By Nick Paul Taylor • May 15, 2023

NuVasive grows sales in Q1, allaying concerns about impact of $3.1B Globus merger

The growth reflects “increased procedure volumes” and a “continued surge in demand” for NuVasive devices.

By Nick Paul Taylor • May 11, 2023

ZimVie will lay off 5% of staff in bid to reduce costs, streamline business

The restructuring, along with reductions in discretionary spending, are expected to save the company $17 million to $20 million by 2024.

By Elise Reuter • May 5, 2023

Insulet raises revenue forecast as Omnipod 5 drives US growth

Insulet is confident it can grow the market for tubeless insulin pumps in the long term, an outlook the company bases on its device’s convenience.

By Elise Reuter • May 5, 2023

iRhythm says it received DOJ subpoena regarding company’s ‘products and services’

The company’s shares fell more than 5% after the federal government requested documents.

By Nick Paul Taylor • May 5, 2023

BD raises full-year forecasts again, expects Alaris infusion pump approval

The company said revenue increases in a number of its product lines were faster than market growth rates, suggesting it’s gaining share.

By Susan Kelly • May 4, 2023

Tandem expects to meet ‘key’ goals even as rival’s device launch may curb short-term sales growth

Tandem claims it has a better insulin pump than Medtronic’s recently approved rival MiniMed 780G device.

By Nick Paul Taylor • May 4, 2023

Zimmer Biomet grows revenue, profits, as orthopedic procedures return

CEO Bryan Hanson said “pretty much everything went better than expected” in the first quarter. 

By Elise Reuter • May 2, 2023

Analyst ‘blown away’ by robot-fueled growth of Stryker’s hip and knee sales

Stryker CEO Kevin Lobo named the Mako robot as a driver of “pretty breathtaking” knee growth outside the U.S.

By Nick Paul Taylor • May 2, 2023

Hologic, after overcoming chip shortage, starts considering larger M&A deals

The breast health unit “emphatically returned to growth” because of improvements to the supply of semiconductors.

By Nick Paul Taylor • May 2, 2023

Dexcom reports ‘growing momentum’ behind G7 launch in first quarter

The CGM launch helped the company add more users than in any other quarter in its history.

By Nick Paul Taylor • April 28, 2023

ResMed device sales jump 43% as supply constraints ease

ResMed’s CEO said “I know we’ll be able to beat [Philips]” when the rival returns to the market after its recall.

By Nick Paul Taylor • April 28, 2023

Quest Diagnostics to pay $450M to buy liquid biopsy cancer test developer as Q1 revenue drops

The laboratory services provider said patients are returning to the healthcare system for routine care, but COVID testing has plummeted as the pandemic winds down.

By Susan Kelly • April 27, 2023

3M plans 6,000 layoffs as hospital staffing woes continue to curb procedures

Manufacturing and supply chain “headwinds” hurt operating margins in the first quarter, the company said.

By Peter Green • April 27, 2023

Baxter restructures, kidney care spinoff still planned for 2024

CEO José Almeida also said the company is exploring strategic alternatives for its biopharma solutions unit.

By Elise Reuter • April 27, 2023

Edwards Q1 revenue boosted by growth at TAVR unit, surgical structural heart business

The company also said it benefited from improved hospital staffing levels that led to a rebound in procedures.

By Nick Paul Taylor • April 27, 2023

Boston Scientific Q1 sales top expectations on ‘healthy’ market demand

As medical procedures pick up pace after the COVID slowdown, the company said it is taking market share in all of its business units.

By Susan Kelly • April 26, 2023

Thermo Fisher reports 9% drop in Q1 revenue, shares slip

The drop in revenue accompanied a 41% decline in net income, with Life Sciences Solutions and Specialty Diagnostics revenue declining by double digits. 

By Peter Green • April 26, 2023

Illumina, under pressure from Icahn, outlines plan to reduce more expenses

The company outlined in its first-quarter earnings call a second set of cost cuts aimed at accelerating margin improvement.

By Nick Paul Taylor • April 26, 2023

Labcorp posts Q1 net decline, says Fortrea spinoff on track for mid-year

The company’s first quarter results in its base operations were boosted by a partnership to manage hospital laboratories for Ascension.

By Susan Kelly • April 25, 2023

Philips says revenue rises 6%, sees €575M in recall-related legal costs

CEO Roy Jakobs expressed confidence in the company’s outlook for the year ahead and said setting aside the funds to resolve a U.S. class action lawsuit was “an important step.”

By Susan Kelly • April 24, 2023

Alphatec buys robotic spine navigation system for $55M

The spine surgery specialist expects the robotic platform to begin generating revenue in 2025.

By Susan Kelly • Updated April 21, 2023

Abbott boosts organic sales outlook as device demand accelerates

A rebound in surgical procedure volumes as hospital staffing improved at the start of the year partially offset a steep drop in COVID-19 testing sales.

By Susan Kelly • April 19, 2023

Intuitive posted 26% jump in robotic procedures in Q1 as hospitals chipped away at backlog

The company experienced “some backlog effect from patients generally returning to more normalized healthcare routines, given the effect of the pandemic over several years.”

By Nick Paul Taylor • April 19, 2023