Stryker (NYSE:SYK) shares dipped after hours today despite second-quarter results that topped the consensus forecast. The Kalamazoo, Mich.-based company posted profits of $592 million, or $1.55 per share, on sales of $4.3 billion for the three months ended June 30, 2021, marking a massive bottom-line gain from losses of $83 million this time last year […]
Stryker
MedTech 100 roundup: Industry shatters all-time best with remarkable rise
The medtech industry’s steady growth provided optimism in recent weeks, but an unforeseen leap sees it hitting new heights now. MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week (July 16) at 145.88 points, a remarkable 27.1% rise week-over-week, registering by far the greatest increase the […]
FDA clears Stryker biodegradable subacromial balloon spacer
Stryker (NYSE:SYK) this week announced that it received FDA 510(k) clearance for its balloon implant for arthroscopic treatment of massive irreparable rotator cuff tears. Kalamazoo, Mich.–based Stryker designed the InSpace balloon implant to restore the subacromial space without requiring sutures or fixation devices. It has been demonstrated to improve shoulder motion and function, according to the […]
Stryker launches humeral system as part of new portfolio
Stryker (NYSE:SYK) announced today that it launched the Perform humeral stem as part of its newly introduced Tornier shoulder arthroplasty portfolio. Kalamazoo, Mich.-based Stryker designed its Tornier Perform humeral stem for use in anatomic, reverse and hemiarthroplasty of the shoulder to allow for conversion from an anatomic to a reverse shoulder prosthesis in the case […]
MedTech 100 roundup: Industry continues climb
One week after hitting an all-time best mark, the medtech industry has done it again, reaching new heights on Wall Street. MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — continued its rise, finishing the week (July 9) at 114.79 points, a rise of 0.2% from the 114.59-point mark […]
Conformis, Stryker settle in Wright Medical patent infringement litigation
Conformis (NSDQ:CFMS) announced today that it settled with Stryker (NYSE:SYK) to resolve patent litigation involving Wright Medical. Billerica, Mass.based Conformis said in a news release and SEC filing that Stryker — which acquired Wright Medical in November 2020 — will make a one-time $15 million payment to Conformis. Stryker in return will receive a non-exclusive license […]
7 companies using robot-assisted surgery to transform orthopedics
It seems as if every orthopedic device company is getting involved in robot-assisted surgery — rolling out robots to assist surgeons operating on the knee, hip, shoulder or spine. Two events in recent years especially signaled that robots were coming into their own in the space: Stryker spent $1.7 billion for Mako Surgical in order […]
Barclays is bullish on medtech
A Barclays analysis projects that medtech might be on its way to a stretch of “outperformance” even in the wake of the COVID-19 pandemic. According to SeekingAlpha, the report cited eight reasons that make the investment bank bullish on the industry in the coming years, starting with what it calls “robust innovation.” On top of […]
MedTech 100 roundup: Return to normal following recent spike
After back-to-back all-time best performances, the medtech industry had a slight regression over the course of the last week. MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — had been continuously ticking up since the beginning of April, with its mark of 112.25 on April 16 representing an all-time […]
DTW Podcast: Can Proximie bring safer surgery to the wider world?
In this week’s podcast, senior executives from Getinge and Proximie – two very different sized companies – explain how the COVID-19 pandemic accelerated their business. In the opening keynote conversation, Eric Honroth, president, Getinge North America, explained how the company more than doubled its production of ventilators in 2020. He also discusses recent FDA clearances […]
Stryker’s Mako could be an MVP for Minor League Baseball
Stryker (NYSE:SYK) announced today that it is working with Minor League Baseball as the official joint replacement partner for the organization. Kalamazoo, Mich.-based Stryker has been designated as “The Official SmartRobotics Joint Replacement Partner of Minor League Baseball (MiLB),” according to a news release. The company is also the presenting partner of “Own the Walk,” […]
