Issue link: https://beckershealthcare.uberflip.com/i/1527804
18 DEVICES & IMPLANTS Kevin Lobo 10th highest-paid healthcare CEO: WSJ By Carly Behm Stryker CEO Kevin Lobo is the 10th-highest paid healthcare CEO, according to e Wall Street Journal. e Journal shared the full annual analysis and ranking of S&P 500 CEO pay and found the median total compensation for half of CEOs reached at least $15.7 million in 2023, according to the May 21 report. Mr. Lobo's total pay was $20.77 million. In the first quarter of 2024, Stryker's U.S. spine business grew 3.9% year-over-year, and U.S. orthopedics grew 45.6% year-over-year. e company is continuing its momentum and gearing up for the release of its spine robot toward the end of the year. Other healthcare CEOs included on the Journal's list include: Joseph Hogan, Align Technology Total pay: $28.95 million Peter Arduini, GE Healthcare Technologies Total pay: $24.51 million Andrew Witty, UnitedHealth Total pay: $23.53 million Robert Ford, Abbott Laboratories Total pay: $23.27 million Gail Boudreaux, Elevance Health Total pay: $21.89 million Karen Lynch, CVS Health Total pay: $21.62 million Joseph Zubretsky, Molina Healthcare Total pay: $21.49 million Samuel Hazen, HCA Healthcare Total pay: $21.32 million David Cordani, Cigna Total pay: $21.05 million n Stryker to acquire spine company By Carly Behm Stryker signed a definitive agreement to acquire Vertos Medical, a pain management company. Vertos Medical focuses on treating chronic lower back pain from lumbar spinal stenosis and is behind the Mild procedure, according to an Aug. 22 news release. The acquisition will strengthen Stryker's minimally invasive pain management portfolio and treatments available for ASCs. In June, Vertos Medical raised $26 million to expand the Mild procedure, and the company promoted two of its leaders to C-suite roles in August. The transaction is subject to customary closing conditions, and Stryker and Vertos Medical will continue to operate as separate entities. n Spine surgeon alignment dropped screw price 67% at ASC By Laura Dyrda M ore spine cases are moving to outpatient surgery centers as procedures become less invasive and payers recognize the value. But unless surgery centers are aligned with vendors on implant pricing, they will lose money. Catherine Llavanes, CEO of Sante Health Partners Ambulatory Surgery Center, said during a panel at the 21st Annual Spine, Orthopedic & Pain Management-Driven ASC + The Future of Spine Conference in June talked about working with a surgeon and vendor partner to align on a cost structure for the ASC. She said one surgeon wanted to perform a spine procedure requiring two screws, and each screw cost $6,000. "The insurance is not going to pay $12,000 for two screws," she said. "I told my director there must be a way to keep this patient in the surgery center and we should talk to the surgeon. Let's line up all the vendors that are similar to that screw and present it to the surgeon." Ms. Llavanes and her team conduct a surgeon meeting every Monday, and during that meeting they showed the surgeon screw cost data. She was able to negotiate down the price to $2,000 per screw and subsequently made $700 on the case. "That alignment with vendors and alignment with your surgeons is important to the future," she said. n