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Journals / Eurasian Journal of Health Technology Assessment / 2024 / Cilt: 8 Sayı: 2

Evaluation of the Financial Performances of the Medical Device Companies among Fortune 500 Companies before, during and after the COVID-19 Pandemic

Fortune 500 Şirketleri Arasında Yer Alan Tıbbi Cihaz Şirketlerinin COVID-19 Pandemisi Öncesindeki, Sırasındaki ve Sonrasındaki Finansal Performanslarının Değerlendirilmesi

Tolga Tümer(ATILIM ÜNİVERSİTESİ)0000-0002-5230-7886
Dilaver Tengilimioğlu(ATILIM ÜNİVERSİTESİ)0000-0001-7101-1944
Eşref Uğur Çelik(ATILIM ÜNİVERSİTESİ)0000-0001-9090-9346
Emine Kübra Dindar Demiray(Bitlis Şehir Hastanesi)0000-0001-6459-7182
Pages
72–83
Publication Date
2025-01-06
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

Discussion: The findings of the study suggests that the overall financial performances of the medical device companies among Fortune 500 companies were strong before, during and after the COVID-19 pandemic.

📌 3 Key Takeaways

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Objective & Hypothesis:Purpose: The purpose of this study was to evaluate the financial performances of the six medical device companies among Fortune 500 companies before, during and after the COVID-19 pandemic.
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Key Findings & Data:We obtained the required data from the annual financial statements of the medical device companies among Fortune 500 companies.
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Conclusion & Impact:Discussion: The findings of the study suggests that the overall financial performances of the medical device companies among Fortune 500 companies were strong before, during and after the COVID-19 pandemic.
🔬Design:Araştırma Makalesi
📍Scope:2019 Verileri
⚙️Variables:Tıbbi cihaz sektörü · Fortune 500 · finansal performans

Abstract

Purpose: The purpose of this study was to evaluate the financial performances of the six medical device companies among Fortune 500 companies before, during and after the COVID-19 pandemic. Methodology: We first conducted ratio analysis by using liquidity, turnover, leverage and profitability ratios; then we conducted Wilcoxon signed-rank tests by using the calculated values of the financial ratios. We obtained the required data from the annual financial statements of the medical device companies among Fortune 500 companies. In the analyses, we took 2019 as the year before the COVID-19 pandemic, 2020 and 2021 as the year of the COVID-19 pandemic and 2022 as the year after the COVID-19 pandemic. Results: The results of the study showed that the medical device companies among Fortune 500 companies were able to keep their financial performances steady when the COVID-19 pandemic began; they were able to increase their profits in the second year of the COVID-19 pandemic; and they were able to start using their assets more efficiently after the COVID-19 pandemic. Discussion: The findings of the study suggests that the overall financial performances of the medical device companies among Fortune 500 companies were strong before, during and after the COVID-19 pandemic. The evaluation of the financial performances of the medical device companies among Fortune 500 companies before, during and after the COVID-19 pandemic may be beneficial for managers and policy makers in the medical device industry to determine the areas that requires to be strengthened in order to be better prepared for possible future pandemics and crisis periods.

Özet

Amaç: Bu çalışmanın amacı, Fortune 500'de yer alan altı tıbbi cihaz şirketinin COVID-19 pandemisi öncesindeki, sırasındaki ve sonrasındaki finansal performanslarının değerlendirilmesidir. Yöntem: Çalışmada öncelikle likidite, devir hızı, kaldıraç ve kârlılık oranları kullanılarak rasyo analizi yapılmıştır; daha sonra ise hesaplanan finansal rasyoların değerleri kullanılarak Wilcoxon işaretli sıralar testleri uygulanmıştır. İhtiyaç duyulan veriler Fortune 500 şirketleri arasında yer alan tıbbi cihaz şirketlerinin yıllık finansal tablolarından elde edilmiştir. Analizlerde, COVID-19 pandemisi öncesi yıl olarak 2019, pandemi süreci olarak 2020 ve 2021, pandemi sonrası yıl olarak ise 2022 alınmıştır. Sonuçlar: Araştırmanın bulgularına göre Fortune 500 şirketleri arasında yer alan tıbbi cihaz şirketleri; COVID-19 pandemisi başladığında finansal performanslarını istikrarlı tutmayı başarmış, COVID-19 pandemisinin ikinci yılında kârlarını artırmış, COVID-19 pandemisinden sonra ise varlıklarını daha verimli kullanmaya başlamışlardır. Tartışma: Çalışmanın bulguları, Fortune 500’de yer alan tıbbi cihaz şirketlerinin COVID-19 pandemisi öncesinde, sırasında ve sonrasındaki finansal performanslarının güçlü olduğunu göstermektedir. Fortune 500 şirketleri arasında yer alan tıbbi cihaz şirketlerinin COVID-19 pandemisi öncesinde, sırasında ve sonrasındaki finansal performanslarının değerlendirilmesi; küresel çapta tıbbi cihaz sektöründeki yöneticiler ve politika yapıcılar açısından gelecekteki olası pandemilere ve kriz dönemlerine karşı daha da hazırlıklı olabilmek adına güçlendirilmesi gereken alanların belirlenmesi bakımından faydalı olabilir.

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Cite This Article

Tümer, T., Tengilimioğlu, D., Çelik, E. U., Demiray, E. K. D. (2025). Evaluation of the Financial Performances of the Medical Device Companies among Fortune 500 Companies before, during and after the COVID-19 Pandemic. Eurasian Journal of Health Technology Assessment, Cilt: 8 Sayı: 2, 72–83. https://doi.org/10.52148/ehta.1530745

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