Mentions of industrial automation within the filings of companies in the healthcare sector were 20% lower between July 2021 and June 2022 than in 2016, according to the latest analysis of data from GlobalData.
When healthcare companies publish annual and quarterly reports, ESG reports and other filings, GlobalData analyses the text and identifies individual sentences that relate to disruptive forces facing companies in the coming years. Industrial automation is one of these topics - companies that excel and invest in these areas are thought to be better prepared for the future business landscape and better equipped to survive unforeseen challenges.
To assess whether industrial automation is featuring more in the summaries and strategies of healthcare companies, two measures were calculated. Firstly, we looked at the percentage of companies which have mentioned industrial automation at least once in filings during the past twelve months - this was 64% compared to 53% in 2016. Secondly, we calculated the percentage of total analysed sentences that referred to industrial automation.
Of the 20 biggest employers in the healthcare sector, Mediclinic was the company which referred to industrial automation the most between July 2021 and June 2022. GlobalData identified 13 industrial automation-related sentences in the United Kingdom-based company's filings - 0.3% of all sentences. Quest Diagnostics mentioned industrial automation the second most - the issue was referred to in 0.2% of sentences in the company's filings. Other top employers with high industrial automation mentions included Cerner, Amedisys and Select Medical.
Across all healthcare companies the filing published in the second quarter of 2022 which exhibited the greatest focus on industrial automation came from Mediclinic. Of the document's 3,458 sentences, eight (0.2%) referred to industrial automation.
This analysis provides an approximate indication of which companies are focusing on industrial automation and how important the issue is considered within the healthcare sector, but it also has limitations and should be interpreted carefully. For example, a company mentioning industrial automation more regularly is not necessarily proof that they are utilising new techniques or prioritising the issue, nor does it indicate whether the company's ventures into industrial automation have been successes or failures.
In the last quarter, healthcare companies based in Western Europe were most likely to mention industrial automation with 0.15% of sentences in company filings referring to the issue. In contrast, companies with their headquarters in Asia mentioned industrial automation in just 0.1% of sentences.