Companies Making a Difference During the Pandemic
Amid the COVID-19 pandemic, it is easy to become distressed by the sobering statistics of people who have died around the world as a result of the coronavirus. However, as Christians, we are called to find the good during the bad. One of the ways we can do this is through recognizing and spotlighting the companies taking substantial measures to save lives, prevent infection, and support front line workers–all at great cost to themselves.
Medtronic is a world-renowned medical device company headquartered in Minneapolis, MN that has garnered attention for its expertise in ventilator production. As the United States death rate continued to climb, Medtronic made an unusual and sacrificial offer: the company would share its ventilator technology by releasing its patent and allowing any company to manufacture the technology. This was a bold offer, especially considering Medtronic’s reputation for holding tightly to its intellectual property. Clearly the company supremely values human life. Back in April, Medtronic announced that it would more than triple its current output to 1,000 ventilators per week by June to assist patients suffering from COVID-19. Additionally, Medtronic’s foundation has committed over $10 million toward efforts to fight the global pandemic. Countless lives have been saved as a direct result of Medtronic’s generosity and concern for humanity.
AstraZeneca is a Swedish-British multinational pharmaceutical and biotech company headquartered in Cambridge, England. The company has taken the lead in developing a COVID-19 vaccine. Remarkably the company has also announced that it will manufacture millions of doses of its vaccine prior to receiving FDA approval so it can go to market immediately if approved. This is being done at great financial risk to the company. Currently, the vaccine candidate is set to enter Phase 3 clinical trials and has already been tested on over 1,000 volunteers. While other companies are racing to create the first efficacious vaccine to fight coronavirus, AstraZeneca is the only one to promise it will not profit as a result of the vaccine. AstraZeneca is most concerned with helping humanity move to a better future free of COVID-19. We are proud to spotlight such a selfless company.
Crocs is an American-based company headquartered in Colorado that makes shoes often worn by healthcare workers around the world. During COVID-19, the company took advantage of its comfortable footwear and donated more than 860 thousand pairs of shoes to healthcare workers. The company set a goal at the outset of the pandemic to donate 10,000 pairs of shoes per day to those on the front lines. Crocs are made of rubber-like molded polymer resin making them easy to wash off; an invaluable advantage for workers hoping to keep their families from contracting COVID-19. CEO Andrew Rees considered it an honor to help meet an unexpected need and said that the company would continue to donate shoes as long as supplies last. Crocs is an example of a company that leveraged its experience and expertise in shoe design to bless those fighting the pandemic. This is the type of company we desire to support through our investing.
People Before Profits
Each of these companies embodies a core attribute of Shining Light Companies — putting people before profits. Medtronic, AstraZeneca and Crocs have each in their own way made a sizable difference in combating coronavirus. We believe that investing in companies such as these is a great way to grow your portfolio assets for retirement, but also is a tangible act of service to fellow human beings benefitting from their generosity. We are proud to spotlight such extraordinary companies who are committed to the health and wellbeing of all by rising to meet the challenges during COVID-19.
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DISCLOSURE: Shining Lights companies are those companies we have identified as exemplary companies living out the Golden Rule and exhibiting the virtues of Integrity, Humility, Diligence, Caring and Courage. This is intended for general information purposes concerning only the values, corporate culture and business practices of the companies being spotlighted. It DOES NOT incorporate any analysis of the companies’ investment merit based on intrinsic value, fundamental analysis, etc. This must not be construed as investment advice or a buy/sell recommendation. These companies may or may not be included in our LightPoint Portfolios at any given time.