One simple metric is to measure the number of W2s per $1M of revenue.
So what is appropriate as an average?
The short answer is: around 2–3 W2 employees per $1M in revenue is a reasonable industry benchmark for a small orthopedic medical device company in the US; a practical target range is often 2–4 depending on the business model.
This aligns with broader US medical device / surgical appliance and supplies manufacturing (NAICS-related data covering orthopedic devices, implants, prosthetics, etc.):
Industry-level figures show roughly $370k–$480k+ in revenue per employee in recent years (implying ~2.1–2.7 employees per $1M). Examples include broader medical instrument/supply manufacturing averages and older Census-linked data for surgical appliance/supplies manufacturing (~$400k+ range).
Large orthopedic-focused or diversified firms (Stryker, Zimmer Biomet) typically land in a similar ~$400k–$450k revenue-per-employee zone (~2.2–2.5 per $1M).
Smaller or mid-sized pure-play orthopedic examples are consistent:
OrthoPediatrics (pediatric orthopedic implants): roughly in the 2.5–3 range in recent higher-revenue years (e.g., ~$205M revenue with several hundred employees).
Other...
