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NVIDIA is the world’s most valuable company with a market cap of $3.33tn. Credit: JHVEPhoto / Shutterstock

In moves that continue to strengthen its affiliation with the healthcare industry, NVIDIA has added three new companies to its growing list of AI-based partnerships.

The tech company has partnered with clinical research services company IQVIA, genomics specialist Illumina, and Mayo Clinic. Along with a collaboration with research organisation Arc Institute, the collaborations were announced during the JP Morgan Healthcare Conference on 13 January.

Nvidia, the world’s most valuable company with a market cap of $3.33tn, has expanded its presence in the healthcare sector over the past few years. The company states that AI, accelerated computing and biological data coming together is “turning healthcare into the largest technology industry”.

The newly announced partnerships are the first of 2025 as the tech company looks ahead to a year when it could see its share price soar even higher.

IQVIA will use Nvivia’s AI Foundry – a service that allows companies to build custom generative AI models – to create new solutions in clinical research workflows. IQVIA is also developing agentic AI solutions kitted out with Nvidia’s NIM and Blueprints software that will expedite research and clinical development. Agentic AI perceive, reason, and act within complex and multi-step tasks, and have been referred to as “digital employees”.

Dexcom has shaken off the lower sales outlook that plagued its share price in 2024 as the diabetes device developer forecasts a healthier total annual revenue of $4.6bn for 2025. 

Shares in the Nasdaq-listed company rose 5% at market open on 13 January compared to a pre-announcement market close. Dexcom released the news ahead of a presentation at the JP Morgan Healthcare 2025 conference on the same day.

The diabetes device maker reported Q4 revenues of at least $1.113bn, up 8% from the same period in 2023. US activities accounted for a large portion of the revenue – around $803m, though international revenue grew at a higher rate of 17% compared to 4% in the US.

Dexcom’s shares dropped nearly 37% last year largely due to a reduced annual revenue forecast. At the time, the company highlighted a disruptive restructuring of its sales team, fewer customers, and decreased revenue as factors for the lower than anticipated target.

Guardant Health has reported preliminary full-year 2024 revenues of $737m, reflecting year-over-year (YOY) growth of 31%, during an investor presentation at this year’s JP Morgan Healthcare Conference on 13 January.

The precision oncology company’s projected full-year revenue would beat the full-year earnings guidance it predicted in the $720m-725m range in its previous quarterly earnings report in November.

Guardant shared that it sold around 206,700 oncology clinical tests – excluding Shield, an in vitro diagnostic (IVD) for colorectal cancer that received US Food and Drug Administration (FDA) in July 2024 – and approximately 40,500 biopharma tests across 2024, representing respective increases of 20% and 35% on 2023.

Guardant also shared preliminary 2024 fourth-quarter (Q4) revenues of approximately $200m in the three months ending 31 December 2024, denoting a YOY increase of 29%.

Zimmer Biomet expressed its optimism that the company will strengthen its market return in 2025 during the JP Morgan Healthcare Conference in San Francisco, US.

Following some challenges last year, chiefly around complications in transitioning to a new enterprise resources planning (ERP) system, a situation that caused the orthopaedic medical device company’s stock price to fall 9% in September 2024 and affecting 2024 revenues by 1%, Zimmer anticipates a stronger 2025 due to six recent new product launches.

Zimmer CEO Ivan Tornos also conceded that the company had recently lost some market share to competitors in the hip and knee space, but stated his belief that the company was in a turnaround phase, having achieved consecutive mid-single-digit revenue growth over the past three years, with around 68% of its revenue in hips and knees.

Zimmer reported net sales of around $1.8bn in its most recent third-quarter financials, representing a 4% increase over the same quarter in 2023.

It’s been a busy week for Illumina at the JP Morgan 2025 Healthcare conference, with the company revealing partnerships and investment participation. Finally turning attention to itself, the genomics company reported its preliminary Q4 and full-year 2024 results on 14 January with CEO Jacob Thaysen heralding a return to form in 2025.

Illumina’s Q4 revenue in 2024 was up 1% from the same period in 2023, totalling $1.1bn. Despite the positive end to the year, the company’s revenue for 2024 was down 2% from 2023, generating $4.33bn. The company had previously lowered its revenue guidance in August 2024 by 2%-3% due to weaker instrument demand, meaning the year-over-year decline was on the lower end of this range.

Illumina underwent a series of significant business changes last year, including a spin-off of cancer test marker Grail in June and the acquisition of single-cell technology company Fluent BioSciences a month later. The company changes received a mixed reaction from analysts and its stock performance has wavered over the past year.