5 Biggest Medical Device Companies In Seattle (What They Do, Who They Hire, What They’re Worth)

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There’s big business in the medical device industry. Whether you’re an engineer, a medic looking to switch from clinical roles, or maybe even an investor looking to jump on the next big thing, learning about the industry (with the hope of getting involved) is paramount.

In this article, we break down the 5 biggest medical device companies in Seattle, WA.

Public information permitting, we’ll talk about what they do, who they hire, revenue figures, and anything else factoring into their ranking as “the biggest and best” regionally.

Ready to learn more? Let’s get started.

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Biggest Medical Device Companies in Seattle

1. Magnolia Medical Technologies – Blood Culture Diagnostics

With an estimated annual revenue of $27.9M and total funding of $117.3M, Magnolia Medical Technologies is one of the biggest Seattle-based medical device players, employing over 111 people.

Founders of SteriPath, the only FDA 510 (K)-cleared device focused on reducing blood culture contamination by rates of 83-85%, their technology helps significantly reduce false-positive blood testing.

Centered on a design that collects blood via an independent, second flow path, the tech creates closed vein-to-bottle collection systems that prevent both harm to the patient and helps promote diagnostic accuracy.

Former Chief of Pathology at UW Medicine, Dr. Richard Patton, is the co-founder of Magnolia Medical Technologies, basing the design off a 2006 clinical study he designed to test the effectiveness of his trademarked Initial Specimen Diversion Technique (ISDT).

In addition to their flagship device, Magnolia Medical has an extensive intellectual property portfolio of over 100 issued method, apparatus, and design patents.

2. Bardy Diagnostics (BardyDX) – ECG Monitoring

Bardy Diagnostics (BardyDx), part of the Baxter Group, makes precision heart monitors designed to “elevate the cardiac standard of care.”

Founded in 2013 by electrophysiologist Gust G. Bardy M.D., this medical device company was born out of a solution to help the founders’ late wife improve her own ambulatory cardiac monitoring, going on to create the trademarked “CAM Patch”, a P-wave-centric electrocardiogram (ECG) wearable.

The device, an acronym for “Carnation Ambulatory Monitor”, is a lightweight patch that sits on the body for up to a week, helping to capture P-waves.

Their other product lines include the CAM-linked analysis software BDxCONNECT, a program that provides multi-field view ECG reports.

The company claims their tech helps capture more precise heart rhythms, aiding in more effective diagnosis.

BardyDx was acquired by Hillrom in mid-2021 for $375M (USD) plus performance-based earnouts. At the time of purchase, BardyDx was home to a team of 230 employees and had projected annual revenue of approx $30M.

They are headquartered out of Occidental Ave, Seattle.

  • Address: 316 Occidental Ave S Ste B310 Seattle, WA, 98104-3859
  • Website: www.bardydx.com

3. MyoVision – Soft Tissue Diagnostics

MyoVision specializes in chiropractic medical aids for both patients and doctors and has been in operation since 1989.

Inventor David Marcarian, MA, has led medical device innovation under $450,000 worth of NIH Grant funds, putting thousands of hours into R&D and securing more than 80 patents.

Their flagship product, the machine MyoVision, targets soft tissue injuries through its various iterations of the DynaROM (a diagnostic tool proving the absence or presence of injury). Measuring range of motion, muscle response, and guarding (a type of reflex that can happen as a consequence of pain), MyoVision technologies incorporate various product lines, including software and training programs.

The company’s annual revenue is approximated to be $4.6M with an employee count of 24.

  • Address: 13545 Erickson Pl. NE Ste. 200, Seattle, WA  98125
  • Website: www.myovision.com

4. Bodypoint – Postural Support

Bodypoint specializes in the design and production of postural support with a focus on comfort and safety. They have been manufacturing in-house in their Seattle base since 1991 and were co-founded by David Hintzman.

Their main product lines include:

  • Shoulder and leg harnesses
  • Hip belts
  • Chest support
  • Powerchair components (joystick mounting and handles)
  • Ankle huggers and calf support

Their approx annual revenue is between $5 to $10M with an estimated employee count of 10-50. Bodypoint Europe BV is an overseas subsidiary operating out of The Netherlands.

  • Address: 558 1st Avenue South. Suite 300, Seattle, WA 98104
  • Website: www.bodypoint.com

5. Pathware Inc – Digital Pathology

Closing $7 million in series A funding, in April 2022, Pathware is a Medtech company that designs hardware and software focused on disrupting the digital pathology space.

With offices based out of Seattle (but headquartered out of Denver, CO), Pathware aims to both improve the accuracy of diagnostic biopsies and move the process from the lab to direct point-of-care (thus reducing costs).

Their recent funding saw MedTech veteran TJ Meyer, previously of Veran Medical Technologies, join the company as CEO tasked with the mission to “help diagnose cancer earlier and ultimately save patient lives.”

Pathware’s major object of focus is to solve the workflow problem occurring thanks to 90% of US-based hospitals being unable to staff pathologists on site.

The group is estimated to staff between 10-50 employees.

Sources

  • https://rccf.com/news/bardy-diagnostics-acquired-by-hillrom/
  • https://www.geekwire.com/2021/health-tech-giant-hillrom-acquire-seattle-startup-bardy-diagnostics-375m/
  • https://www.glassdoor.com/Overview/Working-at-Bodypoint-Inc-EI_IE241478.11,24.htm
  • https://www.prweb.com/releases/2022/04/prweb18611661.htm
  • https://www.prnewswire.com/news-releases/the-new-myovision-series-5-dynarom-changes-lives-one-patient-at-a-time-301291966.html
  • https://www.konaequity.com/company/myovision-4395644781/