Industry Perspective - The Medtech Industry: A Look Back at 2006
The year 2006 may best be remembered for the handful of high-profile companies that struggled, but for all of the challenges that a few medical device companies faced individually, it's hard not to see 2006 as anything other than a robust year for the industry as a whole. It was also a year of impressive rebounds for many other device companies that had faced tough times.
You may also be interested in...
Guidant emerged as one of the important device companies, all but creating the interventional cardiology business and playing a major role in the evolution of cardiac rhythm management. One person stood behind all of these accomplishments and guided Guidant virtually to its end: Ron Dollens, who retired as CEO last year just before the sale of the company to Boston Scientific was made final. Dollens talks about his career at Eli Lilly and Guidant and about his-and Guidant's-final days.
A $10.9 billion bid by a consortium of private equity investors to buy Biomet raises questions about whether this is the first of many such deals or an outlier.
Although big companies grabbed the headlines with problems, 2006 proved to be a strong year for the medical device industry and growth prospects look strong. Our selection of the device industry highlights of 2006 includes: Boston Scientific-Guidant deal: the winner may be Abbott; Device IPO market remains strong; Drug-eluting stent safety debate; Conflicts of interest: (physician relationships with companies); The bid for Biomet; VC Pendulum shifts towards medical devices; Kyphon bids for St. Francis; and Diagnostic imaging and in vitro diagnostics converge.