Is Medtech really recession proof? Recent layoffs, retrenchment may signal difficult times lie ahead
Medtech layoffs continue to mount. We’ll use this episode to begin to explore external and internal challenges. Looking externally, longtime industry watcher Henry Soch, now an executive-in-residence at Matter, shares his concerns about the current and future ability of medical device companies – both big and small – getting new technologies into hospitals. You can read Soch’s blog post here.
Then, Joe Mullings, CEO of the Mullings Group, brings us inside his conversations with senior leaders of the medical device industry. In this interview, a sober Mullings reviews some of the mistakes large strategics have made. The result may be a few months of layoffs and cost-cutting. Mullings says companies could help themselves and the industry by not requiring their terminated employees to sign non-compete agreements. Mullings ends with some hopeful signs for medtech and useful tips for people looking to protect their careers.