Ageing societies and rising life expectancy presage a rosy future for medical-device makers that help injured or chronically ill patients live a more normal life and keep older people active. These are defensive stocks paying useful dividends and providing safe havens in uncertain times. I favour those companies with a strong market position.
One of these, a global leader in sophisticated devices enabling patients to live with chronic diseases. MDT has a strong record in heart devices, where it has a market share of around 50%. Heart devices include MRI-safe pacemakers, transcatheter heart valves, stents (which keep arteries open) and defibrillators, which stop irregular heartbeats.
