NAMSR NEWS: Top 30 Medical Device Companies of 2014

ARLINGTON, Va. - Aug. 6, 2014 - PRLog -- The Recession has been quite a challenging time for Medical Device companies some however have risen to the challenge and have the restructured their portfolios and made their companies more efficient.  The DME companies on this year’s Top 30 list have benefited greatly by, reducing labor costs and lowered interest rates to help boost production and strengthen their balance sheets. But to regain their momentum, the companies and the industry as a whole were obligated to revamp their business models to reflect a drastically different atmosphere. The marketing that was once so closely tied to groundbreaking new products now only budges for devices that provide new and real solutions to physicians, hospitals, insurers and patients. “Novel products are no longer reimbursed without also proving that they are contributing to better health care at a reasonable cost,” Rudy Dekeyser, managing partner at LSP Health Economics Fund, told EY in its 2013 “Pulse of the Industry” report. To thrive in the current healthcare industry, device firms must position themselves as more than mere providers of a single good or service. The valued proposal comes from being a problem-solver, partners that can demonstrate the ability to improve health outcomes in cost-efficient ways. These top 30 DME companies are doing just that, either through acquisitions, spinoffs, divestitures or forays into new treatment areas. As a famous naturalist once noted, it’s not the strongest of the species that will survive, nor the most intelligent, but rather the ones most adaptable to change.

“Editors’ note: As you read our report, please take note that while the companies are ranked according to sales reported for FY 2013 (though we do provide some 2014 figures), 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.”

TOP MEDICAL MANUFACTURES

1.       Johnson and Johnson          $28.49

2.       Siemens Healthcare          $18.42

3.       GE Healthcare          $18.20

4.       Medtronic          $16.59

5.       Baxter International          $15.26

6.       Philips Healthcare          $13.18

7.       Covidien          $10.24

8.       Cardinal Health          $10.06

9.       Abbott Labs          $10.01

10.   Stryker          $9.02

11.   Danaher          $8.96

12.   BD          $8.05

13.   Boston Scientific          $7.14

14.   B.Braun          $7.12

15.   Essilor          $6.97

16.   Novartis(Alcon)          $5.69

17.   St. Jude Medical          $5.50

18.   Fresenius          $5.41

19.   3M Healthcare          $5.33

20.   Zimmer          $4.62

21.   Terumo          $4.55

22.   Smith & Nephew          $4.35

23.   Olympus Medical          $4.19

24.   Hospira          $4.00

25.   Toshiba Medical          $3.98

26.   Getinge Group          $3.90

27.   CareFusion          $3.55

28.   Bayer          $3.48

29.   Biomet          $3.05

30.   C.R. Bard          $3.05

CANDIDATES WHO WANT TO BREAK INTO MEDICAL SALES:

RMSR® Medical Sales Certification offered by the National Association of Medical Sales Representatives is designed for entry level medical device sales reps. The course covers a wide array of topics pertaining to industry knowledge that candidates need to acquire before applying to medical sales positions.

The course and training helps to develop the industry skills, maximizing the candidates’ potential and goals, as well as making them feel valued and stimulated in their role when communicating with members of the medical community. By an applicant acquiring medical sales training and a RMSR Certification, it puts him/her in a position of strength and qualifies them for medical sales jobs. Medical knowledge is key in this industry and when communicating with doctors, surgeons, and nurses etc.

It is extremely important for representatives to use key terminology pertaining to the medical product he/she will be promoting. The only way to succeed in this industry is to garner actual sales. Doctors and Surgeons will not acknowledge a Sales Rep who is not proficient in essential medical terminology, knowledgeable of medical devices/equipment and the anatomy. For those lacking a solid sales background the RMSR course covers knowledge of medical selling techniques and regulation such as Effective Territory Management, Effective Networking, Medical Sales Ethical & Regulatory Guidelines and more.

The National Association of Medical Sales Representative™ (NAMSR) is the largest professional association in the world for Medical Sales Representatives. Through our numerous members, the NAMSR™ provides accredited training, continuing education, information about the industry, up-to-date news, programs to assist medical sales reps in their work, training programs to assist candidates who want to break into the industry and initiatives to improve communication with the medical sales field.

For more information on the NAMSR or the RMSR certification visit www.medicalsalescareer.com or call 800-313-9198