For 2023, Intuitive Surgical places in the Winner's
Circle for the fourth time and ResMed for the third
time in ten years. Medtronic was an early leader that
failed to place in the last five years.
With high margins, the Medical Device industry is
slow to build supply chain processes, and no
company stepped up to be an industry leader in the
building of value chains. Over the decade, operating
margins fell 1% and inventory turns declined 9%.
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