Analysts Predict That Hurricane Fiona Won’t Seriously Affect The Supply Of Medical Devices.
Manufacturing hubs for medical technology have sprung up in Puerto Rico. According to the article, businesses including Baxter, Edwards Lifesciences, Medtronic, and Stryker currently operate facilities on the island.
J.P. Morgan analysts responded to the most recent natural catastrophe by getting in touch with medtech management teams since Hurricane Maria was still having a negative financial impact on Baxter more than a year after it struck the island. The probable impact on medtech was reassuring to the analysts after the discussions.
Although Hurricane Fiona devastated Puerto Rico, leaving many residents without access to clean water and electricity, the analysts said in a letter to investors that they did not anticipate any significant effects on production or supply in any of the industries they cover. Overall, none of the businesses have reported any substantial facility damage, and the operating locations are currently powered by generators.
Analysts discovered that compared to 2017, businesses have backup generators and strengthened building constructions. According to the experts, Baxter experienced minor damage at various locations, causing it to keep some plants closed on Monday. Unharmed facilities were powered by generators with enough fuel for “extended operations,” although Baxter anticipates everything will be back to normal in a few days.
The experts discovered that most businesses had more redundancy than in 2017. Stryker solely manufactures endoscopic equipment and tools on the island, whilst Edwards’ activities are largely focused on its critical care portfolio.
