Over the years, manufacturing hubs for medical technology have sprung up in Puerto Rico, e.g. Baxter, Edwards Lifesciences, Medtronic, and Stryker.
Hurricane Maria continues to have a negative financial impact on Baxter over 12 months following the storms first contact, leaving researchers intrigued as to whether the fallout of Fiona will be as severe.
“none of the companies has reported any significant damage to facilities, with operational sites currently running on generator power“
The experts attempted to calm investors by explaining that “while Hurricane Fiona has been devastating for Puerto Rico, leaving many without electricity and clean water, we don’t expect any material impacts to manufacturing/supply across our coverage universe”
“Overall, none of the companies has reported any significant damage to facilities, with operational sites currently running on generator power.”
Compared to 2017, businesses now have backup generators and strengthened buildings to mitigate against the impact of storm events. Baxter kept several operations closed on Monday as a result of slight impairments at various locations, however the business anticipates everything going back to normal in a few days.
Despite scratching a minimal quantity of manufacturing shifts, Medtronic was getting ready to start up again on Monday.
Stryker now solely manufactures endoscopic equipment and tools in Puerto Rico, and Edwards' activities are largely fixated on its critical care portfolio therefore neither of them were badly affected.
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