Report: Hurricane Maria poses threat to med device hub in Puerto Rico

Hurricane Maria is posing a threat to medical device and pharmaceutical manufacturing plants in Puerto Rico, according to a new Bloomberg report.

The island is home to facilities forJohnson & Johnson (NYSE:JNJ), Pfizer (NYSE:PFE), Amgen (NSDQ:AMGN), Merck, Medtronic (NYSE:MDT) , Abbott (NYSE:ABT), Stryker (NYSE:SYK) and dozens of others, according to the report.

Most of the companies created facilities in Puerto Rico due to tax incentives, Bloomberg reports.

The storm is poised to do massive damage to the island’s infrastructure, according to a CNN report, which could leave the facilities without power or communication even if it doesn’t damage them directly.

Earlier this week, Cardiovascular Systems (NSDQ:CSII)  said that due to hurricanes Harvey and Irma it is experiencing reduced procedure volumes and, as a result, is expecting to see 2018 1st-quarter revenues.

The St. Paul, Minn.-based company said that the impact on its revenue is “magnified due to the company’s small product portfolio and location and timing of the storms,” as the Houston and Florida markets generate over 15% of its revenue.

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