2013 Medtech Jobs Scenario Showed Accelerated Hiring Activity
Published By : 12 Aug 2014 | Published By : QYRESEARCH
In 2013, the medtech jobs scenario looked encouraging, with considerable hiring activity from the top 15 medical device manufacturers, the latest EP Vantage report states. These companies reportedly increased their overall workforce by 6% (this figure does not include pharmaceutical spinoffs), according to the report.
Baxter International was on an aggressive talent acquisition mode, leading the pack. It added 10,000 employees to its workforce, marking a 20% growth rate in hiring. These employees were part of its acquisition of Gambro valued at US$4 billion. Other companies that reported strong hiring data were Stryker, with 3000 new employees, and Intuitive Surgical, with 430 new employees in 2013. This, in the face of the lower-than-expected sales and a slide in shares prices of Intuitive.
Baxter had earlier stated its plans to spin off its vaccines and biotech business. The company, however, said that these decisions and changes will not impact the number of employees until these changes official come into effect in 2015. The only companies that reported fewer employees last year were Boston Scientific, Abbott, and Covidien.
Author of the EP Vantage report Elizabeth Cairns said that all through 2013, medtech companies showed a steady but slow increase in their headcount despite the eye-catching divestments and acquisitions in the same year. Interestingly, the overall increase in the headcount belies the numerous layoffs that had put this industry in the spotlight in 2013. Companies such as Abbott Laboratories, Medtronic, Boston Scientific, and Smith & Nephew had axed several jobs in 2013. In 2014 as well, the job slashes continue with companies such as Allergan, Johnson & Johnson, St. Jude Medical and Abbott.