MedTech Dive May 11, 2022
Medical device companies saw procedures bounce back at the end of the first quarter after a surge of COVID-19 cases at the start of the 2022.
Multiple companies, including GE Healthcare, Intuitive Surgical and Zimmer Biomet, reported a pattern of declining procedure volumes in January — curbed by rising COVID-19 cases — before seeing a recovery in February and March.
Still, medical device firms also flagged several challenges ahead, including shortages of semiconductors and other equipment, rising transportation costs and continued hospital staffing woes
Starting off the earnings season, Johnson & Johnson’s CFO Joseph Wolk said the medtech business experienced a “faster recovery than we anticipated,” with the company noting that diagnostic volumes and surgical volumes were trending up. That...
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