It is striking to look at the five medical technology firms with the biggest job cuts (as a percentage) in 2014: All of the companies in the list are involved in diagnostics. Meanwhile, the in vitro diagnostics industry continues to grow at a steady clip overall.
Below, we round up the five medical technology firms with the most layoffs last year, relying on data drawn the recent VantageEP report from Evaluate MedTech.
1. BG Medicine Cuts 70% of Its Staff
In the past year, BG Medicine (Waltham, MA) has cut the biggest percentage of its staff—70%, trimming its payroll from 23 to seven as it prepares to launch its automated IVD test for heart failure patients. The company’s test detects galectin-3, which can help identify chronic heart failure patients who are at high risk of hospitalization or mortality.
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