Abbott Laboratories

Boston Scientific has strategically expanded in these geographies through organic as well as inorganic strategies.

Boston Scientific’s (BSX) Cardiovascular segment consists of minimally invasive technologies to treat patients with a wide range of heart and vascular diseases. It is BSX’s largest business segment and generated ~39% of the company’s total revenues in 2015.

Starting in 2011, Boston Scientific (BSX) has undertaken cost-cutting programs and reorganization efforts to turn the company’s battered financials around. In 2014, BSX started registering positive growth and profitability.

Abbott Labs is buying St. Jude Medical for about $30 billion in cash, stock, and assumed debt to become a dominant player in the cardiovascular health space.

On April 28, Abbott Labs and St. Jude Medical announced an agreement where Abbott will buy St. Jude for $30 billion in cash, stock, and assumed debt.

Abbott Laboratories’ Nutritional Products segment is the company’s leading segment, growing at a fast pace, with rapidly increasing margins and revenues.

Medtronic established a services and solutions growth vector as one of its core strategies. It contributed ~20 basis points to Medtronic’s growth in 3Q16.

Medtronic’s (MDT) growth is driven by three of the company’s core strategies—therapy innovation, globalization, and economic value.

To better position itself amid the changing medical device environment, Becton Dickinson has come to focus on restructuring and business model evolution.

On March 17, 2016, Johnson & Johnson (JNJ) was trading at a forward PE (price-to-earnings) multiple of ~16.5x compared to the industry average of ~19.6x.

On July 1, 2015, Baxter separated its Biosciences division into a new entity named Baxalta in an effort to divest risky segments and streamline operations.

Thermo Fisher Scientific is a global company, but the majority of its revenues are generated from the developed markets. The US is its largest market, generating ~48% of the company’s total revenues.

Since 2013, Abbott Laboratories has generated revenues from a diversified healthcare business spanning across geographies and four primary segments.

A leading provider of diagnostic products and services, Thermo Fisher Scientific (TMO) has witnessed strong recurring revenues and high margins in the Specialty Diagnostics Segment over the years.

Thermo Fisher Scientific’s Life Sciences Solutions segment earned revenues of ~$4.2 billion in 2014, representing organic growth of around 4%.

Thermo Fisher Scientific’s Laboratory Products and Services segment earned revenues of approximately $6.6 billion in 2014, representing organic growth of around 5%.

Thermo Fisher Scientific (TMO) is one of the leading medical technology companies in the world, providing a broad portfolio of laboratory equipment and services.

Inorganic growth through acquisitions has led to the expansion of Abbott Laboratories across geographies and to the broadening of its product portfolio.

Abbott’s Established Pharmaceuticals segment is a consumer-oriented segment with a consumer mix of around 75% self-pay consumers and 25% third-party payers.

Abbott Laboratories is a global healthcare company that sees 70% of its total revenues generated in markets outside the United States.

Abbott Laboratories is one of the leading companies in the diagnostic products space in the United States, with sales of around $4.7 billion in 2014.

Abbott Laboratories operates across more than 150 countries, employs over 73,000 people, and is the global leader in the nutrition subsector.

Becton, Dickinson and Company (BDX), or BD, has operations across the globe, with more than 50% of its 2015 revenues coming from international markets.

Becton, Dickinson and Company, or BD, headquartered in Franklin Lakes, New Jersey, is one of the leading medical technology companies in the United States.

Traditionally, the United States has been home to the most advanced technological inventions in the medical device industry.

The medical device industry in the US consists of a few big players and a large number of small and medium enterprises.

Medical devices are classified as per the level of control required by the Food, Drug, and Cosmetic Act (or FD&C Act).

Medical device manufacturers source various medical components and parts from suppliers in order to assemble or develop medical devices.

Medtronic spent ~$1.6 billion—approximately 8.1% of its total sales—on research and development programs in fiscal 2015.

Medtronic’s US market YoY growth rate was 22% in 2015, compared to a 2% growth in 2014, whereas its emerging markets have grown by 23% in 2015.

Medtronic’s Cardiac and Vascular segment consists of Cardiac Rhythm and Heart Failure, Coronary and Structural Heart, and Aortic and Peripheral Vascular.

The US medical devices industry can be categorized according to the field of medicine in which a device is used.

With a market capitalization of $100.7 billion, AbbVie is a major US biopharmaceutical company. AbbVie competes with Amgen, Gilead Sciences, and Bristol-Myers Squibb .

Abbott deals with innovative devices and established pharmaceutical products. Any infringement of intellectual property rights may lead to huge losses.

Abbott is organized around a broad portfolio—established pharmaceutical products, diagnostic products, nutritional products, and vascular products.

Chilton liquidated its position in CarMax Inc. (KMX) in the fourth quarter that had accounted for 0.71% of the fund’s third quarter portfolio.