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Medtech is cutting jobs, too
We’ve brought you news nearly every week this year about layoffs hitting the health tech industry — and medtech is feeling the economic pressure, too. ResMed CEO Mick Farrell recently described the medtech industry to me as not “recession-proof”, but “recession-resistant.” In an economic downturn, people might forgo the latest consumer tech, but they’re not able to pass on purchasing a critical prescription or medical device. Still, the industry has certainly dealt with considerable losses, compounded by supply chain stoppages.
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