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Byline: Gloria Lau
For doctors, it pays to specialize. The same holds true for medical companies.
Medical firms that successfully dedicate themselves to a few products and niches can steal market share from less-focused rivals.
One measure of a company's effectiveness is earnings growth. Investor's Business Daily searched its database for the medical companies with the highest Earnings Per Share Ratings, which track long- and short-term profit growth. That number was added to their Relative Price Strength Ratings, which measure how a company's shares have performed in the past year.
The full list, which runs on A9, includes some well-known, top-performing medical companies as well as a few potential stars.
At No. 18 is medical products maker CryoLife Inc. CryoLife's secret lies in balancing a lot of specialization with some diversification.
Nearly 90% of CryoLife's sales come from "cryopreserving" human tissue. Its scientists freeze tissue in liquid nitrogen to temperatures of about 300 degrees Fahrenheit below zero.