It is financial reporting season, and a few major medtech companies posted third-quarter sales growth.
Quest Diagnostics and Danaher both reported year-over-year growth. The results follow the Trump administration’s late-September move to open a national security investigation under Section 232 of the Trade Expansion Act into imports of personal protective equipment, medical consumables and medical equipment, including devices.
Neither company cited the administration’s tariff review as a headwind in third-quarter results.
Quest Diagnostics, which runs diagnostic information services and recently agreed to acquire select laboratory assets from Fresenius Medical Care, reported third-quarter revenue of $2.82 billion, up 13.1% from 2024. The jump in revenue was “driven by broad-based adoption of our clinical innovations, contributions from acquisitions, and growth in our consumer channel as we build our presence as the preferred lab engine inside top health and wellness brands,” Quest Diagnostics President and CEO Jim Davis said in the earnings release.
Quest said organic growth was 6.8%, and it raised its 2025 revenue outlook to between $10.96 billion and $11 billion.
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Danaher, which operates biomedical testing and diagnostics businesses, reported third-quarter revenue of about $6.1 billion, up 4.5% year over year.
“We are encouraged by our third quarter results,” President and CEO Rainer M. Blair said in the earnings release. “DBS-driven execution paired with continued momentum in our bioprocessing business and better-than-anticipated respiratory revenue at Cepheid enabled us to exceed our revenue, earnings and cash flow expectations.”
