Top 5 Medical AI Companies

In this article, we will take a look at the top 5 medical AI companies. To see more such companies, go directly to Top 12 Medical AI Companies.

5. Medtronic plc (NYSE:MDT)

Market Cap: $101.3B

Medical device company Medtronic plc (NYSE:MDT) ranks 5th in our list of the top 12 medical AI companies. Earlier this year Medtronic plc (NYSE:MDT) partnered with Nvidia. Under the partnership, NVIDIA healthcare and edge AI will be integrated into Medtronic’s GI Genius™ intelligent endoscopy module, developed and manufactured by Cosmo Pharmaceuticals.

Appleseed Fund made the following comment about Medtronic plc (NYSE:MDT) in its Q1 2023 investor letter:

“During the most recent quarter, Appleseed Fund added three new equity holdings: Medtronic plc (NYSE:MDT), Stanley Black & Decker (SWK), and Synovus Financial (SNV). Medtronic is the world’s largest device manufacturer, and it holds the number one or number two market share in most of its product segments. Medtronic’s business is heavily weighted towards complicated in-patient procedures, which are typically quite profitable. Industry dynamics are quite attractive with an aging global population and the growth of improved healthcare in emerging markets; furthermore, most of its segments are highly concentrated with just 2-3 players that split each segment’s market share, affording the key participants with significant economies of scale and pricing power. The Company has been recently addressing several temporary headwinds including a strong dollar, inflation, a delayed recovery in surgical volumes from the coronavirus pandemic, and supply chain issues. Once these issues reach the rearview mirror, the Company’s growth and margin expansion plans should transform into reality.”