Health care is a massive, multi-billion dollar industry, and the development and manufacturing of medical equipment is one of its biggest branches. Today there are hundreds of medical manufacturing companies working daily to find better and more profitable health care technology. Most the top medical manufacturers are global corporations that take part in several different aspects of the medical industry. Here are 5 of the top medical equipment manufacturers in the world today.
Cardinal Health, Inc.
Cardinal was founded in 1971 by Robert D. Walter and actually started off as a food wholesaler. When it acquired Bailey Drug Company eight years later, Cardinal began selling pharmaceutical drugs. Today, Cardinal Health is ranked 18th on Fortune 500's list, and with an annual revenue of billion, it is heavily involved in the research and development of new drugs and medical equipment.
Johnson & Johnson
The famous manufacturer of the popular Band-Aid bandages, Tylenol painkillers and Johnson's baby products is also one of the world's biggest manufacturers of non-surgical medical equipment. Founded in 1886, Johnson & Johnson has been on the Fortune 500 list for decades and has annual revenue of over billion. It has an acclaimed corporate reputation and was awarded the Benjamin Franklin Award for Public Diplomacy for funding the State Department's international education programs.
St. Jude Medical, Inc.
With annual revenue of billion, St. Jude Medical specializes in the development and manufacture of medical devices. It sells its products in over 100 countries and has operations in 20 different facilities worldwide. Some of its products include artificial pacemakers, catheters, spinal cord stimulators, heart valves and implantable defibrillators. St. Jude Medical was founded in 1976.
Boston Scientific Corporation
Founded in 1979, Boston Scientific is among the top medical equipment manufacturers in the world, specializing in interventional medical devices. It's most famous product is the Taxus Stent, a device used to open clogged arteries. Boston Scientific has annual revenue of more than billion. It recently acquired one of its biggest competitors, Guidant, for about billion.
Medtronic, Inc.
Medtronic is the world's biggest developer and manufacturer of medical technology. It is listed among the Fortune 500 companies, bringing in annual revenue of over billion. Based in Minneapolis, Medtronic was founded in 1949 by Earl Bakken and Palmer Hermundsile, who first worked out of their garage, fixing and selling equipment built by other companies. As it expanded, Medtronic began developing its own hardware. Today, the company is famous for manufacturing the first wearable artificial pacemakers.
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