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 operating environment for medical technology companies becomes more complex, competitive and costly every year. There is no expectation that 2022 will buck that trend, even as the medtech sector prepares for a third year of working under conditions shaped by the COVID-19 pandemic.

The operating environment for medical technology companies becomes more complex, competitive and costly every year. There is no expectation that 2022 will buck that trend, even as the medtech sector prepares for a third year of working under conditions shaped by the COVID-19 pandemic.

ICU Medical will pay about $500m in stock, $1.85bn in cash, and assume certain liabilities to acquire the medical division of Smiths Group. Smiths is also eligible for $100m in milestone payments from ICU Medical. The deal is better than the $2.3bn offer Smiths got from a subsidiary of private equity firm TA Associates earlier in August.