With many medtechs restructuring for core growth in the post-pandemic era, Abbott relied on organic growth in 2022 to move to the top of the global medtech ranking. The strength of the US dollar was not kind to companies reporting in local currencies on converting revenues to dollars.

The leading global medtechs’ fiscal 2022 revenue reports are all in: Abbott Laboratories moved above Medtronic in MAT medtech revenues, while Philips Healthcare and Stryker finished the year with strong quarters and Roche dropped a few places.

The move removes all regulatory roadblocks to Medtronic’s $1.1bn acquisition of Intersect ENT, which was announced in August 2021.

In the third quarter of 2021, medical device company M&A values reached $7.1bn, while in vitro diagnostic firms and research tools players completed M&A activity that totaled $6.7bn.