3 Medical Device Companies in Focus for Monetizing Data and Analytics

Medical device companies are increasingly evolving from hardware vendors to data-driven services organizations, unlocking new revenue opportunities and providing value-added insights to healthcare providers. The integration of advanced analytics, artificial intelligence (AI), and enterprise data platforms is reshaping how these companies deliver value beyond physical devices. This shift enables providers to make smarter clinical decisions, optimize operations, and personalize patient care while creating recurring revenue streams for device makers.

In this article, we examine how three leading players — Medtronic MDT, IQVIA IQV and GE HealthCare Technologies GEHC — are leveraging data and analytics capabilities to transform their offerings and monetize information assets.

As healthcare systems seek deeper insights, better outcomes and efficiency gains, medical device companies that embed analytics into their core offerings stand to gain both clinically and commercially. Medtronic’s integration of AI and analytics into clinical workflows demonstrates how device-embedded insights can inform personalized patient care.

IQVIA’s data-centric platforms show the value of advanced analytics infrastructure and real-world evidence in shaping product strategy and market deployment. GE HealthCare’s Enterprise Data Hub exemplifies how integrated analytics ecosystems can transform operational and clinical decision-making at scale.

The chart below shows the price performance of our three picks over the past year.

3 Medical Device Companies With Data and Analytics Services

Medtronic: Embedding AI and Analytics Into Clinical Workflows

Medtronic, one of the world’s largest medical device maker, has been accelerating its use of data analytics and AI across its portfolio of technologies to enhance clinical outcomes and operational insight. While traditionally known for hardware such as pacemakers, defibrillators, and insulin pumps, Medtronic now integrates data analytics and AI tools directly into its product ecosystems.

Medtronic highlights data and analytics as a core component of its technology strategy. The company uses AI and data analytics together with sensor data to enable clinicians create individualized treatment plans and improve patient outcomes. These technologies are being applied to robotic-assisted surgery platforms, colonoscopy and endoscopy systems, and next-generation diabetes management tools, such as hybrid closed-loop insulin delivery systems, that analyze continuous glucose data in real time. Data from devices is used not just to monitor patients but to generate actionable insights that can help make better treatment decisions.

For example, Medtronic’s GI Genius intelligent endoscopy module uses AI to enhance polyp detection during colonoscopy procedures — a sophisticated form of procedure-level analytics integrated into the clinical workflow. This type of analytics adds value for providers by reducing missed diagnoses and potentially lowering downstream healthcare costs.

Medtronic has invested in enterprise-wide analytics infrastructure to unify data and generate insights that optimize operations across manufacturing, supply chain, and service delivery. Using Microsoft Power BI as part of its INSIGHTS ecosystem, Medtronic consolidated previously disparate dashboards and data sources into a central analytics platform. This transformation significantly increased access to relevant data, enabling faster decision making and streamlined operations across tens of thousands of employees.

Beyond improving internal processes, this data modernization effort enhances Medtronic’s ability to deliver analytics-driven operational intelligence, supply chain insights, and device performance data that can be incorporated into service contracts or value-based care arrangements.

Although device sales remain foundational, Medtronic’s increasing integration of analytics and AI into its device offerings lays the groundwork for service and software-enabled revenues. Data analytics solutions can be bundled with device subscriptions, enabling premium service tiers, or underpinning training and performance support tools for clinicians — thus expanding monetization beyond one-time hardware transactions.

Medtronic has an expected revenue and earnings growth rate of 7.5% and 2.7%, respectively, for fiscal 2026. The Zacks Consensus Estimate for current-fiscal year earnings has improved 1 cent over the last 60 days. It has a current dividend yield of 3.85%. 

MDT has a return on equity (ROE) of 14.9% compared with the industry’s ROE of 2.1%. Currently, Medtronic has a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Medtronic PLC Price

Medtronic PLC price | Medtronic PLC Quote

IQVIA: From Healthcare Data to Actionable Intelligence

Unlike device manufacturers, IQVIA stands as a data-centric healthcare technology and analytics powerhouse that partners with life sciences companies — including those in the medical device sector — to monetize clinical data, real-world evidence (RWE) and advanced analytics services.

IQVIA’s flagship concept is Connected Intelligence, which merges extensive healthcare data with analytics and technology to support strategic decisions across clinical development, commercialization and outcome analysis. The platform combines robust data governance, cloud-native master data management, and real-time analytics, enabling organizations to derive insights faster and with greater precision.

IQVIA processes and manages vast datasets because of its extensive healthcare footprint. Its capabilities include data as a service (DaaS) solutions, integrated data platforms, master data management, and real-time analytics that enable analytics-driven decisions. IQVIA’s analytics products include tools for cohort identification, patient profiling, predictive modeling, and commercial analytics — spanning both clinical and operational use cases.

The company’s Analytics Engine offers a self-service, configurable platform for analyzing patient cohorts and leveraging real-time healthcare data to support decisions across stakeholders, including payers, providers, and medical device manufacturers themselves.

IQVIA extends its analytics toolbox with AI-powered capabilities that enhance data exploration and insights generation. Its real-world evidence platforms integrate healthcare data and machine learning to uncover deeper insights into patient needs, treatment pathways, and outcomes that are essential for product development and market access strategies.

For medical device companies, IQVIA’s analytics services — particularly RWE and commercial optimization platforms — offer ways to establish evidence-based value propositions and drive adoption of new technologies. These insights can support pricing strategies, regulatory submissions, and long-term outcomes tracking, all of which can translate into sales growth and analytics-dependent contracts.

IQVIA monetizes data analytics through a mix of software subscriptions, analytics consulting services, data licensing, and evidence generation engagements. Its data and analytics have become central to commercial engagements with life sciences stakeholders, including device makers that rely on robust data to demonstrate product value or optimize deployment strategies.

IQVIA has an expected revenue and earnings growth rate of 5.4% and 8.4%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has improved 1 cent over the last 60 days.

IQV has an ROE of 30.7% compared with the industry’s 4.9%. Currently, IQVIA carries a Zacks Rank #3 (Hold).

IQVIA Holdings Inc. Price

IQVIA Holdings Inc. price | IQVIA Holdings Inc. Quote

GE HealthCare: Enterprise Data Hubs and Analytics Ecosystems

GE HealthCare blends its legacy of diagnostic imaging hardware with enterprise data infrastructure and analytics solutions that enable healthcare systems to integrate, manage, and derive insights from patient data.

At the core of GE HealthCare’s data strategy is its Enterprise Data Hub, which includes solutions such as Edison Datalogue. This system consolidates imaging, clinical data, and metadata from across care delivery networks into a secure, interoperable platform that enables analytics-driven decision support. The data hub provides a holistic view of the patient record, actionable insights for clinicians, and tools that enhance operational efficiency and workflow performance.

Edison applications harness advanced analytics and AI to generate insights that improve the efficiency and accuracy of care delivery. Embedded analytics can reduce duplicate imaging, support collaborative care, and streamline clinical workflows, thus offering operational value to hospital administrators and clinical leaders alike.

GE HealthCare’s data solutions go beyond visualization; they integrate data from disparate sources, standardize formats, and apply analytics to support clinical and administrative decisions. These capabilities help healthcare organizations unlock deeper insight from data that is often included within imaging systems, EMRs (electronic medical records), or monitoring devices.

By adding analytics-driven platforms and services to its hardware and software portfolio, GE HealthCare generates recurring software revenue alongside traditional equipment sales. These analytics solutions are offered through subscription models or enterprise licensing, with performance insights often tailored to provider needs — such as reducing costs, improving patient throughput, or enhancing diagnostic confidence.

GE HealthCare has an expected revenue and earnings growth rate of 4.3% and 8.1%, respectively, for the current year. The Zacks Consensus Estimate for current-year earnings has remained stable over the last 60 days. It has a current dividend yield of 8.16%. 

GEHC has an ROE of 22.5% compared with the industry’s 2.1%. Currently, GE HealthCare carries a Zacks Rank of 3.

GE HealthCare Technologies Inc. Price

GE HealthCare Technologies Inc. price | GE HealthCare Technologies Inc. Quote

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