Healthcare Technology Industry
Healthcare technology is transforming healthcare delivery. It encompasses companies involved in health technology products and services, including digital adoption (such as digital products, channels, and processes) and medical instruments, machines, and implants.
Below, we provide 10 Halal stocks that belong to the healthcare technology industry.
Stocks in the Healthcare Technology Industry
Note: The Shariah-compliance statuses of the stocks provided below are based on Musaffa Shariah-compliance screening of fiscal 2024 first quarter (2024 third quarter for MDT; 2024 second quarter for BDX; 2024 annual for MCK) financial results using AAOIFI standards. The compliance status of stocks may undergo changes based on the screening of subsequent financial results.
- Abbott Laboratories (ABT)
Abbott Laboratories engages in the discovery, development, manufacture, and sale of a broad and diversified line of healthcare products. The company’s portfolio of technologies spans the spectrum of healthcare, with businesses and products in diagnostics, medical devices, nutritional and branded generic medicines.
Market capitalization: 179.86B USD
Shariah-compliance status: Halal
- Merck & Co Inc (MRK)
Merck & Co., Inc. is a health care company, which engages in the provision of health solutions through its prescription medicines, vaccines, biologic therapies, animal health, and consumer care products. The company is headquartered in Rahway, New Jersey and currently employs 72,000 full-time employees. The company offers health solutions through its prescription medicines, including biologic therapies, vaccines and animal health products.
Market capitalization: 296.30B USD
Shariah-compliance status: Halal
- Stryker Corp (SYK)
Stryker Corp. provides innovative products and services that help improve patient and healthcare outcomes. Its products include surgical equipment and surgical navigation systems; endoscopic and communications systems; patient handling, emergency medical equipment and intensive care disposable products; clinical communication and workflow solutions; neurosurgical and neurovascular devices; implants used in joint replacement and trauma surgeries; Mako Robotic-Arm Assisted technology; spinal devices; as well as other products used in a variety of medical specialities.
Market capitalization: 130.80B USD
Shariah-compliance status: Halal
- Boston Scientific Corp (BSX)
Boston Scientific Corp. is involved in the development, manufacture and marketing of medical devices that are used in interventional medical procedures.
Market capitalization: 112.95B USD
Shariah-compliance status: Halal
- Regeneron Pharmaceuticals Inc (REGN)
Regeneron Pharmaceuticals, Inc. is a biotechnology company, which engages in the discovery, invention, development, manufacture, and commercialization of medicines. The company is headquartered in Tarrytown, New York and currently employs 13,450 full-time employees. The firm invents, develops, manufactures, and commercializes medicines for people with serious diseases. Its products and product candidates in development are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, neurological diseases, hematologic conditions, infectious diseases, and rare diseases.
Market capitalization: 120.43B USD
Shariah-compliance status: Halal
- Mckesson Corp (MCK)
McKesson Corp. provides supply chain management solutions, retail pharmacy, community oncology and speciality care, and healthcare information technology.
Market capitalization: 75.82B USD
Shariah-compliance status: Halal
- Becton Dickinson and Co (BDX)
Becton, Dickinson & Co. is a global medical technology company, which specializes in the development, manufacture, and sale of medical supplies, devices, laboratory equipment, and diagnostic products used by healthcare institutions, physicians, life science researchers, and others.
Market capitalization: 66.74B USD
Shariah-compliance status: Halal
- Edwards Lifesciences Corp (EW)
Edwards Lifesciences Corp. delivers patient-focused medical innovations for heart disease and critical care monitoring.
Market capitalization: 52.54B USD
Shariah-compliance status: Halal
- Dexcom Inc (DXCM)
DexCom, Inc., is a medical device manufacturing company that designs, develops, and commercializes glucose monitoring systems for ambulatory use by people with diabetes.
Market capitalization: 45.51B USD
Shariah-compliance status: Halal
- GE Healthcare Technologies Inc (GEHC)
GE Healthcare Technologies, Inc. provides medical technology, pharmaceutical diagnostics and digital solutions. The firm develops, manufactures, and markets a portfolio of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients. The firm’s segments include Imaging, Ultrasound, Patient Care Solutions and Pharmaceutical Diagnostics.
Market capitalization: 34.71B USD
Shariah-compliance status: Halal
Source: Musaffa, June 2024.
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