Top 28 Medical Device Companies In Massachusetts
| S.N | Company | CEO |
|---|---|---|
| 1. | Abiomed Inc. | Michael R. Minogue |
| 2. | Anika Therapeutics Inc. | Cheryl R. Blanchard |
| 3. | Alexion Pharmaceuticals Inc. | Ludwig N. Hanston |
| 4. | Nova Biomedical Corp | Francis C. Manganaro |
| 5. | NxStage Medical Inc. | Jeffery H. Burbank |
| 6. | Hologic | Stephen P. MacMillan |
| 7. | Cynosure | Todd Tillemans |
| 8. | NextPhase Medical Devices, LLC | Carlo W. Colesanti |
| 9. | Spectra Medical Devices, LLC | Chad Nikel |
| 10. | DePuy Synthes Companies | David Baker |
| 11. | Alere inc. | Namal Nawana |
| 12. | Analogic Corporation | Tom Ripp |
| 13. | Boston Scientific Corp | Michael F. Mahoney |
| 14. | Covidien (medtronic) | José E. Almeida |
| 15. | HeartWare International Inc | Kaylie Turner |
| 16. | Insulet Corporation | Shacey Petrovic |
| 17. | Lake Region Medical | Joe Fleischhacker |
| 18. | LeMaitre Vascular Inc. | George W. Lemaitre |
| 19. | Microline Surgical Inc. | Sharad Joshi |
| 20. | Perkinelmer | Prahlad Singh |
| 21. | Philips Healthcare | Roy Jakobs |
| 22. | Tecomet | Andreas Weller |
| 23. | Tegra Medical LLC | Mark King |
| 24. | TEI Biosciences | Yiannis Monovoukas (former) |
| 25. | Zoll Medical Corp | Jonathan A Rennert |
Massachusetts is home to a thriving medical device industry, with companies at the forefront of innovation and technology.
From large multinational corporations to small startups, the state boasts a diverse range of companies that are making significant contributions to the healthcare sector.
In this article, we will take a closer look at the top 28 medical device companies in Massachusetts, highlighting their solutions and products.
1. Abiomed Inc.
CEO: Michael R. Minogue
Founded In: 1981
Headquarters: Danvers, Massachusetts, United States
Market Capital: $17.18 Billion
Company Status: Publicly traded company
Number of employees: 1,536 (2022)
Abiomed Inc. offers products that assist or replace the pumping function of the failing heart. Their primary products include Impella, a percutaneous micro heart pump, and the Abiomed Breethe, an ECMO-like therapy designed to support lung function. They also offer products for use in heart recovery and heart support post-surgery. Abiomed received FDA approval for their Impella CP heart pump, which is the first and only percutaneous heart pump to be FDA-approved for use in high-risk PCI, which is a type of heart surgery.
2. Anika Therapeutics Inc.
CEO: Cheryl R. Blanchard
Founded In: 1983
Headquarters: Bedford, Massachusetts, United States
Market Capital: $447.93 million
Company Status: Publicly traded company
Number of employees: 201-500
Anika Therapeutics Inc. develops, manufactures, and markets therapeutic products based on its proprietary hyaluronic acid technology. Its products are used in the fields of osteoarthritis, regenerative medicine, and surgery. Anika’s key product is MONOVISC, a single injection viscosupplement for the treatment of osteoarthritis of the knee. The company also markets other products such as CINGAL and ORTHOVISC, which are also viscosupplements for the treatment of osteoarthritis.
3. Alexion Pharmaceuticals Inc.
CEO: Ludwig N. Hanston
Founded In:1992
Headquarters: Boston, Massachusetts, United States
Market Capital: 40.33 billion
Company Status: Publicly traded company
Number of employees: 2,525 (2020)
Alexion Pharmaceuticals Inc. company’s key product is Soliris, a complement inhibitor treatment used for the treatment of patients with paroxysmal nocturnal hemoglobinuria (PNH) and atypical hemolytic uremic syndrome (aHUS). Alexion also has other products such as Ultomiris (ravulizumab-cwvz) for the treatment of PNH and aHUS, and Kanuma (sebelipase alfa) for the treatment of lysosomal acid lipase deficiency. With FDA approval, Alexion launched Ultomiris (ravulizumab-cwvz) for the treatment of adults with paroxysmal nocturnal hemoglobinuria (PNH).
4. Nova Biomedical Group
CEO: Francis C. Manganaro
Founded In: 1976
Headquarters: Waltham, Massachusetts, United States
Market Capital:
Company Status: Private
Number of employees: 1,001-5,000
Nova Biomedical Group is a leading developer and manufacturer of advanced blood analyzers and critical care systems. Some of their key products include the StatStrip Xpress and StatStrip Connect, which are handheld glucose and multi-parameter meters, and the RapidPoint 500, a bedside blood gas analyzer. Nova’s got the FDA clearance for their new product Nova Biomedical Rapid COVID-19, a rapid diagnostic test for COVID-19. The test can detect COVID-19 in as little as 5 minutes and is intended for use in hospitals, emergency departments, and point-of-care settings.
5. NxStage Medical Inc.
CEO: Jeffery H. Burbank
Founded In: December, 1998
Headquarters: Lawrence, Massachusetts, United States
Market Capital: 2 billion
Company Status: Publicly traded company
Number of employees: 3,800 (2017)
NxStage Medical Inc. features products for the treatment of acute and chronic kidney failure. Their primary product is the NxStage System One, which is the first and only portable hemodialysis system cleared for home use by the US FDA. It allows patients to perform hemodialysis at home or on the go, rather than having to go to a clinic or hospital for treatment. The company also offers other products such as the NxStage PureFlow SL Dialysis Preparation System, which is used to prepare dialysis fluid, and the Nx2me Connected Health platform, which allows patients to access their treatment data remotely.
6. Hologic
CEO: Stephen P. MacMillan
Founded In: 1985
Headquarters: Marlborough, Massachusetts, United States
Market Capital: 20.35 billion
Company Status: Publicly traded company
Number of employees: 6,705 (2021)
Hologic is focused on the development, manufacturing, and marketing of diagnostic and medical imaging systems, medical diagnostic tests, and surgical and biopsy products. Their products include the 3D mammography system, the Cervista HPV test, and the Aptima HIV-1 quantitative assay. They also offer a wide range of products for women’s health, including bone density scanners, digital mammography systems, and minimally invasive surgical products. Their new product, the Aptima SARS-CoV-2 assay is a qualitative nucleic acid test designed to detect the SARS-CoV-2 virus that causes COVID-19.
7. Cynosure
CEO: Todd Tillemans
Founded In: 1991
Headquarters: Westford, Massachusetts, United States
Market Capital: 1.61 billion
Company Status: Publicly traded company
Number of employees: 501 – 1000
Cynosure offers products that cater to a variety of aesthetic and medical applications, including hair removal, tattoo removal, skin revitalization, and the treatment of vascular and pigmented lesions. The PicoSure laser, the Elite MPX laser, and the SculpSure non-invasive body contouring system are some of its flagship products. The PICO Genesis laser treatment is one of its new products which is a non-invasive laser treatment that uses ultra-short pulses of light to target pigmented and vascular lesions on the skin, improve the overall texture and tone of the skin, and reduce the appearance of fine lines and wrinkles.
8. NextPhase Medical Devices LLC
CEO: Carlo W. Colesanti
Founded In: 2014
Headquarters: Waldwick, New Jersey, United States
Market Capital:
Company Status: private company
Number of employees: 201 – 500
NextPhase Medical Devices LLC is a contract manufacturing company that specializes in the design, engineering, and production of complex electronic manufacturing systems (EMS) and disposable medical devices for original equipment manufacturers (OEMs). The company offers a full range of services, including design and development, prototyping, testing, validation, and manufacturing. The company has recently achieved ISO 13485:2016 certification, which is a globally recognized standard for quality management systems in the medical device industry.
9. Spectra Medical Devices, LLC
CEO: Chad Nikel
Founded In:1995
Headquarters: Wilmington, Massachusetts, United States
Market Capital:
Company Status: private company
Number of employees: 201 – 500
Spectra Medical Devices, LLC is one of the top procedural needle manufacturers that has been in business for 25 years. Spectra Medical Devices LLC offers a variety of products in different categories, including oncology, pain management/anesthesia, prescription drugs, PICC, sterile needles, and surgical devices. The company has also been awarded several U.S. patents for special needle processing and products, as well as U.S. FDA medical device clearances and drug approvals for lidocaine and sodium chloride.
10. Alere inc
CEO: Namal Nawana
Founded In: 1991
Headquarters: Waltham, Massachusetts, United States
Market Capital: 4.47 billion
Company Status: Publicly traded company
Number of employees: 5000 – 10,000
Alere Inc. was a medical diagnostic company that specialized in developing and manufacturing point-of-care diagnostic tests and devices. Its products were used in a variety of settings, including hospitals, clinics, and at-home settings. Some of its key products included the Alere inc rapid diagnostic testing platform, the Alere Triage BNP test, and the Alere INRatio PT/INR monitoring system. Alere Inc. was acquired by Abbott Laboratories in 2017, so it no longer operates as an independent company. The latest achievement by Alere could be considered the acquisition by Abbott.
11. Analogic Corporation
CEO: Tom Ripp
Founded In: 1967
Headquarters: Wakefield, Massachusetts, United States
Market Capital: 1.05 billion
Company Status: Publicly traded company
Number of employees: 1,000 – 5,000
Analogic Corporation is a technology company that designs and manufactures products and services for the medical imaging, airport security, and defense markets. Some of their products include computed tomography (CT) scanners for medical imaging, baggage scanners for airport security, and sonar systems for defense. The company has been able to develop a portable ultrasound system for use in remote and resource-limited settings and release a new CT scanner that uses artificial intelligence to improve image quality and reduce radiation dose.
12. Boston Scientific Corp.
CEO: Michael F. Mahoney
Founded In: June 29, 1979
Headquarters: Marlborough, Massachusetts, United States
Market Capital: 65.87 billion
Company Status: Publicly traded company
Number of employees: 41,000 (2021)
Boston Scientific Corporation products include minimally invasive medical devices in the areas of cardiology, endoscopy, oncology, and neuromodulation. One of the recent achievements of Boston Scientific launched the Vercise Genus Deep Brain Stimulation (DBS) System which is the first and only DBS system with directional leads that allow physicians to target specific areas of the brain associated with Parkinson’s disease. This system is designed to provide more targeted therapy and improved outcomes for people living with Parkinson’s disease.
13. Covidien
CEO: José E. Almeida
Founded In: June 29, 2007
Headquarters: Dublin, Ireland
Market Capital: 48.5 billion
Company Status: Publicly traded company
Number of employees: 95,000 (2022)
Covidien is now running under Medtronic company specializing in providing solutions for minimally invasive surgical procedures, as well as products for vascular, respiratory, and gastrointestinal health. Covidien’s da Vinci Surgical System, this state-of-the-art technology allows for highly precise, minimally invasive surgeries to be performed with greater ease and accuracy. Covidien also provides education and training services to healthcare professionals, helping them to stay up-to-date on the latest techniques and technologies.
14. Cynosure, Inc.
CEO: Todd Tillemans
Founded In: 1991
Headquarters: Westford, Massachusetts, United States
Market Capital: 1.61 billion
Company Status: Publicly traded company
Number of employees: 501 – 1000
Cynosure, Inc. produces various medical devices and skin care products for treating conditions such as hair removal, pigmented lesion, vascular, and tattoo removal, skin resurfacing, and body contouring. They have launched PICO Genesis laser treatment for pigmented lesions and skin rejuvenation. Their product portfolio includes SculpSure, a non-invasive body contouring system, and Rejuvapen micro-needling device for skin rejuvenation.
15. DePuy Synthes
CEO: David Baker
Founded In: 1895
Headquarters: Raynham, Massachusetts, United States
Market Capital:
Company Status: Private company
Number of employees: 5,000–10,000
DePuy Synthes is a company that offers a range of products and services for orthopedic surgery, such as joint replacement, trauma, spine, sports medicine, and craniomaxillofacial products. They design, manufacture, and market artificial joints, fracture fixation, and spinal fusion products, instruments and implants for repair and reconstruction of bones and joints. Their latest product is the Attune Knee System, a next-generation knee replacement system that aims to improve range of motion, stability, and better patient outcomes.
16. HeartWare International
CEO: Kaylie Turner
Founded In: Jan 1, 2004
Headquarters: Framingham, Massachusetts, United States
Market Capital: 1.02 billion
Company Status: Publicly traded company
Number of employees:501 – 1,000
HeartWare International produces advanced circulatory support technologies, primarily the HeartWare Ventricular Assist System (miniaturized, implantable heart pump) for patients with advanced heart failure. It aims to assist the left ventricle of the heart in pumping blood to the rest of the body, improving cardiac function. They also offer other products such as the HeartWare MVAD and the HeartWare HVAD, designed to provide advanced circulatory support to patients with advanced heart failure.
17. Hologic
CEO: Stephen P. MacMillan
Founded In: 1985
Headquarters: Marlborough, Massachusetts, United States
Market Capital: 20.35 billion
Company Status: Publicly traded company
Number of employees: 6,705 (2021)
Hologic, Inc. is one of the leaders in the development, production, and distribution of surgical and cryosurgery tools, medical biopsy instruments, and diagnostic and medical imaging systems. In addition to imaging systems like digital mammography, bone densitometry, and computed tomography (CT), the company also offers diagnostic and screening products like HPV testing and cervical cancer screening, as well as surgical and biopsy products like minimally invasive surgical tools and biopsy systems.
18. Insulet Corporation
CEO: Shacey Petrovic
Founded In: 2000
Headquarters: Acton, Massachusetts, United States
Market Capital: 20.26 billion
Company Status: Publicly traded company
Number of employees: 1,001–5,000
Insulet Corporation is a medical device company that develops, manufactures, and markets innovative insulin delivery systems for people living with diabetes. The company’s flagship product is the Omnipod Insulin Management System, which is a tubeless insulin pump that provides continuous insulin delivery. The Omnipod system is designed to be worn on the body and is controlled by a wireless personal diabetes manager (PDM) device. In addition to the Omnipod, Insulet also offers other products and services such as the Insulet Diabetes Supply Management, which is a service that provides patients with a convenient and cost-effective way to manage their diabetes supplies.
19. Lake Region Medical
CEO: Joe Fleischhacker
Founded In: 2000
Headquarters: Wilmington, Massachusetts, United States
Market Capital: 19.83 billion
Company Status: publicly traded company
Number of employees: 2,300 (2021)
Lake Region Medical company is a global leader in the production of catheter components, such as shafts, balloons, and guidewires, as well as other specialized components such as needles, cannulas, and wire coils. Lake Region Medical has a diverse range of capabilities and technologies, including multi-axis CNC machining, injection molding, laser cutting, and micro-abrasion. The company serves customers across a wide range of medical specialties, including cardiovascular, neurovascular, urology, and orthopedics.
20. LeMaitre Vascular Inc.
CEO: George W. Lemaitre
Founded In: 1983
Headquarters: Burlington, Massachusetts, United States
Market Capital: 1.03 billion
Company Status: Public traded company
Number of employees: 488 (2021)
LeMaitre Vascular Inc.s product portfolio includes a wide range of products used in the treatment of peripheral artery diseases (PAD), such as angioplasty balloons, stents, and thrombolytic catheters. The company is committed to improving the lives of patients suffering from PAD by developing and marketing innovative products that simplify and improve the treatment of this disease. LeMaitre Vascular’s products are used by vascular surgeons, interventional radiologists, and interventional cardiologists in a variety of healthcare settings, including hospitals, clinics, and imaging centers.
21. Microline Surgical Inc.
CEO: Sharad Joshi
Founded In: 1987
Headquarters: Beverly, Massachusetts, United States
Market Capital:
Company Status: Private company
Number of employees: 51-200
Microline Surgical is committed to providing its customers with high-quality, innovative products which are also used by surgeons in a variety of specialties, including general surgery, gynecology, urology, and thoracic surgery. Microline Surgical, in 2020, announced the launch of its new product, the TorqVac Advanced Suction Irrigation System, which is designed to improve efficiency and precision during minimally invasive surgeries. The system features a unique dual-pump design that allows for simultaneous suction and irrigation, providing improved visualization and precision during surgery.
22. Nova Biomedical Corp.
CEO: Francis C. Manganaro
Founded In: 1976
Headquarters: Waltham, Massachusetts, United States
Market Capital:
Company Status: Private
Number of employees: 1,001-5,000
Nova Biomedical Corp focuses on providing point-of-care testing solutions for hospitals and alternate care sites with a wide range of products such as blood glucose meters, blood gas analyzers, and electrolyte analyzers. One of the company’s new products is the StatStrip Xpress Blood Glucose Meter System. This device is designed to provide fast and accurate results for patients with diabetes, it features advanced algorithms and a user-friendly interface which makes it easy to use and provides accurate results in just 5 seconds.
23. PerkinElmer, Inc.
CEO: Prahlad Singh
Founded In: 1937
Headquarters: Waltham, Massachusetts, United States
Market Capital: 17.04 billion
Company Status: Public traded company
Number of employees: 16,700 (2022)
PerkinElmer, Inc. is a global technology company specializing in providing solutions for medical research, diagnostics, and genetic testing, as well as laboratory instruments and services for chemical analysis, environmental testing, and industrial biotechnology. PerkinElmer’s services include laboratory instruments and reagents, software and informatics, services and technical support, and professional services such as training and consulting.
24. Philips Healthcare
CEO: Roy Jakobs
Founded In: 1896
Headquarters: Amsterdam, Netherlands and Andover, Massachusetts, United States
Market Capital: 13.77 billion (eur)
Company Status: Publicly traded company
Number of employees: 78,189 (2022)
Philips Healthcare offers a range of imaging equipment such as computed tomography (CT) scanners, magnetic resonance imaging (MRI) systems, and ultrasound machines to help healthcare providers diagnose and treat patients. Recently, they have launched IntelliSpace Discovery, an AI-powered imaging platform that is designed to help radiologists and pathologists improve diagnostic accuracy, efficiency, and workflow by automating image analysis and providing real-time insights.
25. Tecomet
CEO: Andreas Weller
Founded In: 1963
Headquarters: Wilmington, Massachusetts, United States
Market Capital:
Company Status: private company
Number of employees: 1,001-5000
Tecomet is a leading contract manufacturing company that specializes in the orthopedics industry and is a top 10 leader in the medical device market. They have a strong presence in various sub-segments of the orthopedics industry, including large joints, spine, extremities and trauma, CMF, minimally invasive, and laparoscopic surgical markets. They offer a wide range of services, including the manufacturing of permanent implants, robotic surgery instruments, custom delivery systems, and packaging solutions.
26. Tegra Medical
CEO: Mark King
Founded In: 2007
Headquarters: Franklin, Massachusetts, United States
Market Capital:
Company Status: Private company
Number of employees:500-1000
Tegra Medical is a contract manufacturer of finished medical devices and complex components for the medical industry. They provide a wide range of services including design and development, prototyping, production, packaging, and sterilization. Their products include surgical instruments, needles, and implants for various medical procedures and treatments. They are known for their ability to integrate common and non-traditional technologies such as laser cutting with CNC grinding and metal forming to manufacture complex medical products. They serve a variety of customers including original equipment manufacturers (OEMs) and start-ups in the medical device industry.
27. TEI Biosciences
CEO: Yiannis Monovoukas (former)
Founded In: 1991
Headquarters: Waltham, Massachusetts, United States
Market Capital:
Company Status: Private company
Number of employees: 51-200
TEI Biosciences develops and manufactures biomaterials used in regenerative medicine and tissue engineering applications. The company’s primary products include collagen-based scaffolds, hydrogels, and other biomaterials used in the repair and regeneration of soft tissue and bone. One of the latest achievements of TEI Biosciences is the launch of a new product called “NanoMatrix”. It is a next-generation collagen scaffold that is designed to mimic the natural extracellular matrix of the body.
28. Zoll Medical Corp.
CEO: Jonathan A Rennert
Founded In: 1980
Headquarters: Chelmsford, Massachusetts, United States
Market Capital: 305.0 billion
Company Status: publicly traded company
Number of employees: 1,001-5,000
Zoll Medical Corporation is a leading medical device company specializing in the development and manufacturing of devices used in cardiopulmonary resuscitation (CPR) and acute critical care. The company’s primary products include defibrillators, cardiac monitors, and CPR devices. Zoll’s defibrillators are known for their advanced features, such as Real CPR Help, which provides real-time feedback on the rate and depth of chest compressions during CPR. One of the latest achievements of Zoll Medical is the launch of its new device “R Series” which is a powerful, portable defibrillator that is designed to provide advanced life support in the field.
Future Of Medical Device Companies
The medical device industry in Massachusetts is constantly evolving, with new companies and technologies emerging all the time.
The companies featured in this article are just a small representation of the innovative and impactful companies in the state.
They are working towards improving patient care and advancing the healthcare industry as a whole.
The future looks bright for the medical device industry in Massachusetts and we can expect to see many more breakthroughs and advancements in the years to come.