• Login
    • Join
  • FOLLOW:
  • Subscribe Free
    • Magazine
    • eNewsletter
    Checkout
    • Magazine
    • News
    • Opinions
    • Top 30
    • Research
    • Supply Chain
    • Device Sectors
    • Directory
    • Events
    • Resources
    • Microsites
    • More
  • Magazine
  • News
  • Opinions
  • Top 30
  • Research
  • Supply Chain
  • Device Sectors
  • Directory
  • Events
  • Resources
  • Microsites
  • Current / Back Issues
    Features
    Editorial
    Digital Edition
    eNewsletter Archive
    Our Team
    Editorial Guidelines
    Reprints
    Subscribe Now
    Advertise Now
    Top Features
    OEMs Seek Molders Offering Timely Techniques

    Robotic Surgery: Cutting Through to the Latest

    Packaging, Sterilization Considerations Go Part and Parcel with Product Development

    Cybersecurity Challenges Leave Medical Device Makers Insecure

    OEMs Are Demanding Designs that Challenge Suppliers
    OEM News
    Supplier News
    Service / Press Releases
    Online Exclusives
    Press Releases
    People in the News
    Product & Service Releases
    Supplier News
    Medtech Makers
    Technical Features
    International News
    Videos
    Product & Service Releases
    Live From Shows
    Regulatory
    Financial/Business
    Top News
    Magnetic Insight Announces $17 Million in Series B Funding

    BreatheSuite Adds Brad Fluegel to its Board

    Labcorp Launches At-Home Collection Device for Diabetes Risk Testing

    Thirona, Free Flow Medical Partner on COPD Solutions

    Smart Sleep Tracking Products Market to Sustain Double-Digit Growth
    From the Editor
    Blogs
    Guest Opinions
    Top Opinions
    OEMs Seek Molders Offering Timely Techniques

    Robotic Surgery: Cutting Through to the Latest

    Packaging, Sterilization Considerations Go Part and Parcel with Product Development

    Cybersecurity Challenges Leave Medical Device Makers Insecure

    OEMs Are Demanding Designs that Challenge Suppliers
    Top 30 Medical Device Companies
    Market Data
    White Papers
    Top Research
    Theranos Fraud Trial, Part II: The Blame Game Continues

    An Update on Surgical Robotics

    Letting the Light In: How Failure Analysis is the Cornerstone of Success

    Three Talent Strategies to Attract High-Demand Skills

    The Advantages of Bioburden Screening for Sterilization Validation
    3D/Additive Manufacturing
    Contract Manufacturing
    Electronics
    Machining & Laser Processing
    Materials
    Molding
    Packaging & Sterilization
    R&D & Design
    Software & IT
    Testing
    Tubing & Extrusion
    Cardiovascular
    Diagnostics
    Digital Health
    Neurological
    Patient Monitoring
    Surgical
    Orthopedics
    All Companies
    Categories
    Company Capabilities
    Add New Company
    Outsourcing Directory
    BMP Medical

    JBC Technologies

    Trademark Plastics Inc.

    Fusion Biotec Inc.

    Concise Engineering
    MPO Summit
    Industry Events
    Webinars
    Live From Show Event
    Industry Associations
    Videos
    Career Central
    eBook
    Slideshows
    Top Resources
    The Power of Leveraging Customer Relationships

    Cost Effective & Efficient Wire EDM Techniques

    How MedTech Professionals Can Help Combat Physician Burnout

    How to Optimize Manufacturing Lines and Choose Which Machines to Buy

    How Are Hypodermic Needles Made?
    Companies
    News Releases
    Product Releases
    Press Releases
    Product Spec Sheets
    Service Releases
    Case Studies
    White Papers
    Brochures
    Videos
    Outsourcing Directory
    BMP Medical

    JBC Technologies

    Trademark Plastics Inc.

    Fusion Biotec Inc.

    Concise Engineering
    • Magazine
      • Current/Back Issues
      • Features
      • Editorial
      • Columns
      • Digital Editions
      • Subscribe Now
      • Advertise Now
    • News
    • Directory
      • All Companies
      • ALL CATEGORIES
      • Industry Associations
      • Company Capabilities
      • Add Your Company
    • Supply Chain
      • 3D/Additive Manufacturing
      • Contract Manufacturing
      • Electronics
      • Machining & Laser Processing
      • Materials
      • Molding
      • Packaging & Sterilization
      • R&D & Design
      • Software & IT
      • Testing
      • Tubing & Extrusion
    • Device Sectors
      • Cardiovascular
      • Diagnostics
      • Digital Health
      • Neurological
      • Patient Monitoring
      • Surgical
      • Orthopedics
    • Top 30 Company Report
    • Expert Insights
    • Slideshows
    • Videos
    • eBook
    • Resources
    • Podcasts
    • Infographics
    • Whitepapers
    • Research
      • White Papers
      • Case Studies
      • Product Spec Sheets
      • Market Data
    • MPO Summit
    • Events
      • Industry Events
      • Live From Show Events
      • Webinars
    • Microsite
      • Companies
      • Product Releases
      • Product Spec Sheets
      • Services
      • White Papers / Tech Papers
      • Press Releases
      • Videos
      • Literature / Brochures
      • Case Studies
    • About Us
      • About Us
      • Contact Us
      • Advertise with Us
      • eNewsletter Archive
      • Privacy Policy
      • Terms of Use
    Top30

    9. Stryker

    ...

    Related CONTENT
    • Stryker to Acquire TSO3 Inc.
    • Catching Its Breath: Observations from the 2019 Top Companies Reports
    • 2. Johnson & Johnson
    • 11. Boston Scientific
    • 18. 3M Health Care
    07.30.19
    AT A GLANCE
    Rank: #9 (Last year: #8)
    $13.60 Billion
    Prior Fiscal: $12.44 Billion
    Percentage Change: +9.3%
    No. of Employees: 36,000
    Global Headquarters: Kalamazoo, Mich.

    KEY EXECUTIVES
    Kevin A. Lobo, Chairman and CEO
    Glenn S. Boehnlein, VP and CFO
    Timothy J. Scannell, President and COO
    Andy Pierce, Group President, MedSurg
    Spencer Stiles, Group President, Neurotechnology, Instruments and Spine
    Xavier M.C. Berling, President, Trauma & Extremities
    Dylan B. Crotty, President, Instruments
    Brent W. Ladd, President, Endoscopy
    Eric D. Major, President, Spine
    Mark H. Paul, President, Neurovascular
    Bradford L. Saar, President, Medical
    Stuart F. Simpson, President, Joint Replacement

    Stryker’s epic run of tuck-in acquisitions shows no sign of slowing down, and its largest buy last year really showed some backbone.

    The orthopedic giant proclaimed its intent to acquire Virginia-based spinal device maker K2M Group Holdings for $1.4 billion last August. “This acquisition underscores our commitment to the spinal market, which is the largest segment of orthopedics with significant unmet needs,” Chairman and CEO Kevin Lobo stated to the press at the time of announcement.

    K2M is known for its Balance ACS platform of products, services, and research to help surgeons achieve three-dimensional spinal balance across the axial, coronal, and sagittal planes. The firm’s portfolio also includes minimally invasive implants like the adjustable MOJAVE 3D printed spinal support implant, biologics, and complex spine injury treatments like the MESA 2 Deformity Spinal System.

    “K2M’s main focus is complex spine, which we believe is an attractive segment since the procedures are typically performed by high-volume surgeons and generate significant revenue per case,” Mike Matson, an analyst with Needham & Co., wrote in a research note. “K2M faces only two key competitors in complex spine (Johnson & Johnson and Medtronic) and its innovative products including its MESA 2 system have enabled it to gain significant share in this segment.”

    Analysts have said Stryker’s Spine unit has struggled as of late. K2M raked in nearly $300 million in 2017 thanks to a strong position in the complex spine markets, an attractive minimally invasive surgery portfolio, and additive manufacturing capabilities.

    “Spine has been a problem child for Stryker,” Evercore analyst Vijay Kumar said in a report to clients. “We think K2M provides visibility in spine turning into a low-single-digit to mid-single-digit growth segment once the deal annualizes.”

    This deal, which closed in November, also reaffirmed Stryker’s acquisition strategy. Early last summer, chatter suggested the firm may have been in the market to buy Boston Scientific. Stryker later squashed that rumor.

    “There was some nervousness around whether Stryker was contemplating a departure from its tuck-in strategy,” Kumar told Investor’s Business Daily. “The K2M deal should provide confidence in Stryker sticking to its well-oiled strategy of tuck-in acquisitions that are accretive to (the top line) and margins.”

    This acquisition strategy helped land Stryker well in the black once again. The company recorded its 39th consecutive year of sales growth with last year’s $13.6 billion, a healthy 9.3 percent jump from the year prior. Higher shipments of medical, instruments, endoscopy, neurotechnology, knees, and trauma and extremities products were the main cause for the near-double-digit revenue hike.


    ANALYST INSIGHTS: Kevin Lobo continues to do his John Brown imitation by delivering predictable high performance shareholder return. This is built on the back of thoughtful, well executed organic and inorganic growth strategies that span all divisions and, as usual, best in industry leadership and management throughout the organization.

    —Patrick West, Partner, Mirus Capital Advisors



    Neurotechnology and Spine’s performance last year easily outstripped the rest even without K2M’s help, skyrocketing 18 percent to rest at $2.6 billion in sales. Not much was offered in the way of reasoning for this momentous increase apart from higher shipments of neurotechnology products and the addition of new neurovascular products last year. Neurotechnology claimed the lion’s share of the earnings with $1.7 billion—a whopping 22.1 percent over the prior year. Spine sales grew 10.3 percent, accruing $828 million (though this segment is likely to blossom next year as K2M becomes fully integrated).

    Stryker and 3D Systems began a distribution partnership for craniomaxillofacial Virtual Surgical Planning (VSP) and anatomical models last January. VSP is a service-based approach to personalized surgery, combining medical imaging, surgical simulation, and 3D printing. To use VSP, the surgeon brings clinical knowledge and a desired surgical plan to an online meeting with a 3D Systems biomedical engineer to simulate and plan the procedure. The result is a digital plan transferred to the operating room via accurate 3D printed patient-specific models, guides, and templates.

    The company closed the $664 million Entellus Medical buy initiated in December 2017 last February. With this purchase, Stryker gained a family of minimally invasive balloon device products, including Entellus’ flagship Xpress device, which treats blocked sinuses.

    Stryker’s Trevo Retriever acquired an expanded indication last February as a front-line treatment for acute ischemic stroke up to 24 hours from symptom onset, increasing the treatment window by 18 hours. The Trevo Retriever, which is the first and only thrombectomy device FDA cleared to significantly reduce disability up to 24 hours from symptom onset, received the expanded indication thanks to last year’s updated treatment guidelines from the American Heart Association and American Stroke Association.

    The company crossed the 95 percent thresholds in the VEXIM acquisition it had begun in October 2017 last February. In the weeks following, Stryker filed a proposed public buy-out offer for all outstanding shares. VEXIM specializes in minimally invasive treatment of vertebral fractures. Its SpineJack Implantable Fracture Reduction System, which reduces painful osteoporotic vertebral compression fractures, obtained FDA clearance last September. SpineJack has been proven to be superior to balloon kyphoplasty in terms of freedom from adjacent level fracture and midline vertebral height restoration, pain reduction, and improvement in function.

    Last March saw FDA clearance for the Tritanium TL Curved Posterior Lumbar Cage, a 3D-printed interbody fusion cage for lumbar fixation. The hollow implant features a configuration of both solid and porous structures built using Stryker’s proprietary AMagine manufacturing process. The Tritanium TL Cage is composed of Tritanium Technology, a highly porous titanium material inspired by the microstructure of cancellous bone. Central graft and lateral windows help reduce the cage’s stiffness, aid in fusion visualization, and allow for bone graft containment. Its multidirectional teeth facilitate multidirectional fixation so surgeons can steer and rotate the cage to their desired placement.

    The Surpass Streamline Flow Diverter attained FDA pre-market approval last July to treat unruptured large and giant wide neck intracranial aneurysms. It is the first flow diverter for large and giant posterior communicating artery aneurysms, which are more challenging to treat due to their location and surrounding anatomy. The stent reliably opens and provides consistent mesh density across the neck of the aneurysm to help with occlusion while maintaining perforator artery patency. It can also be resheathed, repositioned, and recaptured without losing distal wire position.


    ANALYST INSIGHTS: Stryker continues to be aggressive with both organic and inorganic growth opportunities. Look for Stryker to continue to be opportunistic in M&A across its market segments while also looking for M&A to expand its outside U.S. footprint.

    —Dave Sheppard, Co-Founder and Managing Director, MedWorld Advisors



    Stryker acquired HyperBranch Medical Technology for $220 million last October. HyperBranch develops medical devices based on its proprietary polymers and cross-linked hydrogels, and its Adherus AutoSpray Dural Sealant is one of two FDA-approved dural sealants on the market. The PMA approved and CE marked hydrogel is an adjunct to standard dural repair methods, creating a watertight closure of the dura. The Adherus product complements Stryker’s craniomaxillofacial portfolio.

    Orthopaedics division revenue swelled 5.9 percent last year to reach $5 billion. Unit volume expanded thanks to higher shipments of knees and trauma and extremity products, partially offset by lower prices. With $1.7 billion of proceeds last year, knee sales grew 6.6 percent. Hips sales widened 2.5 percent to collect $1.3 billion. Trauma and Extremities gathered $1.6 billion for a 6.9 percent jump, and “other” orthopedic products blossomed 11 percent with $374 million in revenue.

    The company launched the Trident II Acetabular System at last year’s American Academy of Orthopaedic Surgeons meeting. The system is composed of Trident II Tritanium, which combines AMagine additive manufactured Tritanium In-Growth Technology with the precision of Mako Robotic-Arm Assisted Surgery. Trident II Tritanium’s slim wall allows for large femoral size options and optimal poly thickness to aid in greater range of motion, joint stability, and lower dislocation risk. The Trident II Tritanium Acetabular System gained FDA clearance in October 2016. The full release offers five shell options—three in Tritanium, and three in hydroxyapatite.

    That same day saw the launch of Pivot Guardian, the industry’s first post-free hip distraction system. Pivot Guardian helps to mitigate groin complications and heel slip linked to hip arthroscopy. The post-free design lets surgeons create adequate force for distraction without applying pressure to the groin while alleviating heel slip and excessive pressure applied to the foot.

    The next day witnessed another market first with the unveiling of Cobra, a new reusable suture passing technology for rotator cuff repair. The first-of-its-kind technology features novel needle manufacturing and innovative jaw design to produce the first reusable needle technology. Cobra’s improved needle stiffness helps prevent intraoperative misfires and distal needle tip breakages. The suture passer utilizes technology acquired from Arthrogenx in 2017.

    MedSurg franchise revenue last year advanced 8.8 percent to $6 billion. Higher shipments of medical, instruments, and endoscopy products all contributed to this rise, which was somewhat offset by lower prices. Within the division, Instruments proceeds grew 8.6 percent to $1.8 billion, Endoscopy sales rose 11.7 percent to $1.8 billion, Medical revenue jumped 7.6 percent to $2.1 billion, and Sustainability earnings flattened at $259 million.

    Building on a partnership to reprocess single-use devices (SUDs) that began in 2015, Hygia Health Services entered Stryker’s fold last May. With this buy, Stryker hopes to help hospitals and health systems increase the value their SUD reprocessing programs deliver. Hygia’s product lineup includes air transfer mattresses, fall alarms, ECG leads, cerebral-somatic sensors, and infusor bags. In 2017, Stryker helped its almost 3,000 SUD reprocessing customers collective save $326 million in supply costs and divert 13.4 million pounds of waste from landfills.

    Stryker nabbed Swiss surgical smoke evacuation solutions firm SafeAir AG last June. Highly complementary to the Instruments division, the company’s smoke evacuation products help reduce exposure to hazards associated with surgical smoke. The acquisition closed in the fourth quarter of last year.

    The string of acquisitions continued last September when Stryker bought San Francisco-based Invuity Inc. for $190 million. The deal added advanced photonics and single-use, lighted instruments that offer enhanced visualization during orthopedic and spine surgery, general surgery, and women’s health procedures to the firm’s Instruments business. The acquisition was completed a month and a half later.

    The Stryker F1 Small Bone Power System was introduced last March. The cordless, balanced, lightweight powered instrument boosts the efficiency of distal extremity procedures. Surgeons can choose from two gripping styles—either pencil or pistol-style. The device features five motors and three attachments that are interchangeable between the SmartGRIP Control Module to let surgeons choose their specific approach. The F1 System also connects to an online data module that helps optimize management of Stryker’s smart devices through device-derived, actionable data.
    Related Searches
    • johnson
    • maker
    • surgical
    • implant
    Suggested For You
    Stryker to Acquire TSO3 Inc. Stryker to Acquire TSO3 Inc.
    Catching Its Breath: Observations from the 2019 Top Companies Reports Catching Its Breath: Observations from the 2019 Top Companies Reports
    2. Johnson & Johnson 2. Johnson & Johnson
    11. Boston Scientific 11. Boston Scientific
    18. 3M Health Care 18. 3M Health Care
    22. Dentsply Sirona 22. Dentsply Sirona
    23. Canon Medical Systems 23. Canon Medical Systems
    27. Hologic 27. Hologic
    AblaCare Raises €10 Million in Financing and Announces New CEO AblaCare Raises €10 Million in Financing and Announces New CEO
    CeQur Appoints Former Stryker Exec as CEO CeQur Appoints Former Stryker Exec as CEO
    FDA Approves Stryker FDA Approves Stryker's Neuroform Atlas Stent to Treat Brain Aneurysms
    An Army of Micro-Robots Can Wipe Out Dental Plaque An Army of Micro-Robots Can Wipe Out Dental Plaque
    Global Surgical Lighting System Market to Surpass $579.6 Million by 2026 Global Surgical Lighting System Market to Surpass $579.6 Million by 2026
    Surgical Robotics Market to Surpass $24B by 2025 Surgical Robotics Market to Surpass $24B by 2025
    Stryker Stryker's Chairman & CEO Named AdvaMed Board Chairman

    Related Breaking News

    • Packaging & Sterilization | Surgical
      Stryker to Acquire TSO3 Inc.

      Stryker to Acquire TSO3 Inc.

      TSO3 Inc. is an innovator in sterilization technology for medical devices in healthcare settings.
      PR Newswire 08.12.19

    • Catching Its Breath: Observations from the 2019 Top Companies Reports

      Catching Its Breath: Observations from the 2019 Top Companies Reports

      ...
      Sean Fenske, Editor-in-Chief 07.30.19

    • 2. Johnson & Johnson

      2. Johnson & Johnson

      ...
      07.30.19


    • 11. Boston Scientific

      11. Boston Scientific

      ...
      07.30.19

    • 18. 3M Health Care

      18. 3M Health Care

      ...
      07.30.19


    Trending
    • The Power Of Leveraging Customer Relationships
    • Intermountain Healthcare & Siemens Healthineers Open 3 Tellica Outpatient Imaging Centers
    • 5 Ways Plastics Revolutionized The Healthcare Industry
    • Magnetic Insight Announces $17 Million In Series B Funding
    • NHS England Selects Spectra Optia Apheresis System To Treat Sickle Cell Disease
    Breaking News
    • Magnetic Insight Announces $17 Million in Series B Funding
    • BreatheSuite Adds Brad Fluegel to its Board
    • Labcorp Launches At-Home Collection Device for Diabetes Risk Testing
    • Thirona, Free Flow Medical Partner on COPD Solutions
    • Smart Sleep Tracking Products Market to Sustain Double-Digit Growth
    View Breaking News >
    CURRENT ISSUE

    June 2022

    • OEMs Seek Molders Offering Timely Techniques
    • Robotic Surgery: Cutting Through to the Latest
    • Packaging, Sterilization Considerations Go Part and Parcel with Product Development
    • View More >

    Cookies help us to provide you with an excellent service. By using our website, you declare yourself in agreement with our use of cookies.
    You can obtain detailed information about the use of cookies on our website by clicking on "More information”.

    • About Us
    • Privacy Policy
    • Terms And Conditions
    • Contact Us

    follow us

    Subscribe
    Nutraceuticals World

    Latest Breaking News From Nutraceuticals World

    Florida Food Products Acquires Javo
    Roquette Launches Nutralys Rice Protein
    New IADSA Chair Lauds Explorations of Supplementation in Healthcare Policy
    Coatings World

    Latest Breaking News From Coatings World

    The Southern Society for Coatings Technology's 84th Annual Technical Conference A Success
    PPG to Showcase Specialty Automotive, Aerospace Adhesives, Sealants at Adhesives & Bonding Expo
    PPG’s New Paint for a New Start Initiative to Transform 25-plus Schools Worldwide
    Medical Product Outsourcing

    Latest Breaking News From Medical Product Outsourcing

    Magnetic Insight Announces $17 Million in Series B Funding
    BreatheSuite Adds Brad Fluegel to its Board
    Labcorp Launches At-Home Collection Device for Diabetes Risk Testing
    Contract Pharma

    Latest Breaking News From Contract Pharma

    Pierre Fabre and Lonza Enter Manufacturing Agreement
    MasterControl and Elemental Machines Form Biomanufacturing Partnership
    Qosina Strengthens Aseptic Capabilities
    Beauty Packaging

    Latest Breaking News From Beauty Packaging

    Benefit Exec Joins Madison Reed's Board
    Peroni & Ellis Brooklyn Launch Fragrance Collection Inspired by Italian Spritz Cocktails
    Rhode Is Trending for June, Trendalytics Says
    Happi

    Latest Breaking News From Happi

    Botanical Embedded Candles Can Be Fire Hazard, Says National Candle Association
    Caire Beauty to Celebrate Menopause Empowerment Day
    Beautycounter Launches Text Campaign for FDA Safety and Landmark Advancements Act
    Ink World

    Latest Breaking News From Ink World

    British Coatings Federation Posts Online History
    Orion Announces Price Increases, Reduced Payment Terms
    INX Troubleshooting Guide App Adds New Solutions
    Label & Narrow Web

    Latest Breaking News From Label & Narrow Web

    PCMC teams with IGT, Fujifilm makes big announcement and more
    Loftware recognized as 'AIDC Company of the Year'
    Schreiner MediPharm highlights sustainability of Needle-Trap technology
    Nonwovens Industry

    Latest Breaking News From Nonwovens Industry

    Tranzonic Names VP of Supply Chain
    Ontex Climate Action Targets Approved by Science-Based Targets Initiative
    Suominen Test Center Assesses Biodegradability of Nonwovens
    Orthopedic Design & Technology

    Latest Breaking News From Orthopedic Design & Technology

    3Spine Inc. Receives IDE Approval for U.S. Pivotal Clinical Trial
    Volume-Based Procurement to Reduce Chinese Orthopedic Market Value
    Isto Biologics Rolls Out Influx Fibrant
    Printed Electronics Now

    Latest Breaking News From Printed Electronics Now

    NREL Names Jennifer Logan to Leadership Team as CFO
    National Grid Renewables Orders 2 GW of First Solar Modules
    EO System Company Ltd. Picks eMagin’s OLED Microdisplays for Global Projects

    Copyright © 2022 Rodman Media. All rights reserved. Use of this constitutes acceptance of our privacy policy The material on this site may not be reproduced, distributed, transmitted, or otherwise used, except with the prior written permission of Rodman Media.

    AD BLOCKER DETECTED

    Our website is made possible by displaying online advertisements to our visitors.
    Please consider supporting us by disabling your ad blocker.


    FREE SUBSCRIPTION Already a subscriber? Login