26
DEVICES
&
IMPLANTS
10 Things to Know About Stryker
By Adam Schrag
F
ounded by a Michigan physician who wished to ease his pa-
tients' struggles in 1941, Stryker Corp. now sells its medical de-
vices in over 100 countries around the world.
Here are 10 things to know about Stryker:
1. Stryker was founded by Homer Stryker, MD, in Kalamazoo, Mich.,
in 1941. Dr. Stryker's alternative medical products gave his patients
the chance to lead healthy, active lives that made surgery and recovery
simpler, faster and more effective. In 1947, a patent was issued for Dr.
Stryker's oscillating saw, which expedited the removal of plaster casts.
2. Stryker reported that its net sales grew 16.2 percent to $3.2 billion the
fourth quarter of 2016. Orthopedics revenue grew 5.3 percent, MedSurg
grew 31.1 percent and neurotechnology and spine grew 8.7 percent. e
company's full year highlights of 2016 included net sales growth of 13.9
percent to $11.3 billion, with orthopedic growth of 4.7 percent, MedSurg
growth of 25.6 percent and neurotechnology and spine growth of 9.9 per-
cent.
3. Kevin A. Lobo has been Stryker's CEO since 2012 and the com-
pany's chairman since 2014. He previously served as CFO of McNeil
Consumer Healthcare and Ortho Women's Health & Urology, and
was president of Johnson & Johnson, Medical Products Canada. Early
on in his role at Stryker, he spearheaded the company's $764 million
purchase of Trauson Holdings Co., China's largest maker of pelvic re-
construction plates and other products used in trauma surgery. Other
prominent members of the leadership team include Vice President and
Chief Human Resources Officer M. Kathryn Fink; Vice President of
Communications and Public Affairs Yin C. Becker and Group Presi-
dent of Orthopaedics David K. Floyd.
4. On April 1, 2016, Stryker announced the acquisition of Swiss oral care,
skin preparation and protection company Sage Products. Stryker then went
on to purchase the assets of Houston-based Restore Surgical in September
2016. e acquisition fortified Stryker's portfolio of staple and hammertoe
implants and minimally invasive so tissue recession instrumentation for
foot, ankle and upper extremity procedures. On Feb. 16, 2016, Stryker pur-
chased Physio-Control International, a manufacturer of defibrillators and
monitors, for $1.28 billion.
5. Orthopedic devices make up 43 percent of Stryker›s total sales; Med-
Surg-related products make up 39 percent of total company sales; neu-
rotechnology and spine products make up 18 percent.
6. Stryker launched Ascential, an implant delivery solution for low-acu-
ity spine surgeries in 2016. It offers sterile-packaged implants, custom-
ized service levels and a streamlined distribution model and will likely
reduce operating costs for ambulatory surgery centers. e spine prod-
ucts available through Ascential include the ACP 1 Anterior Cervical
Plating System, IBD Peek Anterior Cervical Spacer System and VBA
Vitoss Foam Pack. Facilities can keep the instruments aer surgery in-
stead of returning them to sales reps for reprocessing.
7. In 2017, Stryker was listed as one of Fortune's "Most Admired Com-
panies" for the 16th year in a row. e company was also listed on the
2017 best places to work in medical sales, coming in at third on the list.
8. In 2013, Stryker acquired Mako Surgical for $1.65 billion. e com-
pany had pioneered orthopedic-related robotic assistance, starting off
with the RIO Robotic Arm Interactive Orthopedic System and Ma-
koplasty Partial Knee Resurfacing procedure and Makoplasty Total
Hip Arthroplasty. In its third quarter financial report conference call,
Stryker reported that 30 Mako robots were installed globally. is fig-
ure represented a 75 percent year-over-year increase.
9. At the end of 2016, Michigan state officials contributed $1 million in
state economic development support to convince Stryker to build its
$130 million expansion project in Michigan as opposed to doing so in
other states, according to the Detroit Free Press. Stryker also secured a
tax break from city and county officials as part of the agreement to stay
in the Kalamazoo area. e new 485,000-square-foot facility is expect-
ed to create 105 new jobs for engineers and scientists over three years.
10. Stryker's Sustainability Solutions department helps the company
maintain its presence as a big player in the reprocessed medical devices
market. According to Stryker's Senior Marketing Director Bill Scott:
"Stryker was the first original equipment manufacturer to enter the
single-use device reprocessing business through the 2010 acquisition
of Ascent Healthcare Solutions, the oldest and largest third-party SUD
reprocessing company." e company currently serves over 3,000 hos-
pitals and health systems and helped health systems save $299 million
and eliminate 12.9 million pounds of medical waste in 2016. n
24
TH
ANNUAL MEETING:
The Business & Operations of ASCs
October 26-28, 2017 | Swissotel | Chicago, Illinois
190 SPEAKERS, INCLUDING 137+ SPEAKERS
DIRECTLY FROM SURGERY CENTERS
The Best Business-Focused, Strategic Discussions in the
ASC Industry with a Special AEU Credit Track
Register here at www.beckersasc.com/annual-ambulatory-surgery-
centers-conference/ or call 800-417-2035 or email Jessica Cole, jcole@
beckershealthcare.com or Scott Becker, sbecker@beckershealthcare.com
KEYNOTES BY
Bill Walton,
NBA Legend and
Basketball Analyst
BECKER'S
ASC REVIEW
Kirk Herbstreit,
ESPN's "College
GameDay" Analyst and
Reporter
Alexa von Tobel,
Founder and CEO of
Learnvest.com, Author
of Financially Fearless
Andrew Hayek,
CEO of OptumHealth,
CEO of Surgical Care
Affiliates
