The top 50 medical device companies in the world paid physicians and teaching hospitals $690.3 million last year in general payments, according to an analysis of Medical Design and Outsourcing‘s Big 100 and CMS Open Payments data. Medtech companies averaged $17.3 million in general payments to doctors last year, spending an average of 0.2% of […]
These medical device companies pay doctors the most money
The top medical device companies in the world made more than $542.6 million in general payments to physicians and hospitals in 2018, according to an analysis of Medical Design & Outsourcing‘s Big 100 and CMS Open Payments data. Zimmer Biomet topped the list with $109.4 million in general payments* to physicians and teaching hospitals in […]
Stryker warns of plastic fracture problem with STAR total ankle replacement
Stryker (NYSE:SYK) recently issued a safety notice involving its Star total ankle replacement in which it warned of higher than expected risk of polyethylene fracture. The safety communication, dated Oct. 11, involved STAR total ankle replacements distributed before Aug. 1, 2014 — about the same time that Stryker acquired Small Bone Innovations and STAR (Scandinavian Total […]
Stryker to acquire Wright Medical for $4.7B
Stryker (NYSE:SYK) today said it is acquiring Wright Medical (NSDQ:WMGI) for $4.7 billion in cash. Through the agreement, Stryker will pay $30.75 per share and will acquire all of the issues and outstanding ordinary shares of Wright Medical for an equity value of $4.7 billion. With outstanding convertible notes, total enterprise value is set at $5.4 billion. The […]
FDA clears Stryker’s Sahara expandable interbody implant
Stryker (NYSE:SYK) said yesterday that it won FDA 510(k) clearance for its Sahara lateral 3D expandable interbody implant system. Sahara Lateral is the first ever 3D-printed lateral expandable fusion device, according to a news release. It is designed to allow surgeons up to 30 degrees of sagittal spinal correction in skeletally mature patients. The implant is […]
Stryker beats The Street on Q3 earnings, shares drop after hours
Stryker (NYSE:SYK) shares dropped after hours yesterday despite third-quarter results that just topped the consensus forecast. Kalamazoo, Mich.-based company posted profits of $466 million, or $1.23 per share, on sales of $3.59 billion for the three months ended Sept. 30, for a -21.0% bottom-line slide on sales growth of 10.6% compared with Q3 2018. Adjusted to […]
Mexico sues Stryker over alleged bribery scheme
Mexico’s federal health agency last week sued Stryker (NYSE:SYK) over an alleged bribery scheme, accusing the company of bribing officials at the Instituto Mexicano del Seguro Social to reap more than $2 million in illicit profits. The lawsuit, filed Oct. 18 in the U.S. District Court for Western Michigan, claims that Kalamazoo, Mich.-based Stryker induced […]
Stryker closes $500m Mobius buy
Stryker (NYSE:SYK) said today that it closed the $500 million buyout of Mobius Imaging and its Cardan Robotics subsidiary. The Kalamazoo, Mich.-based company was the first orthopedics major to bet large on robotics with the $1.68 billion acquisition of Mako Surgical in December 2013. Last month Stryker agreed to pay $370 million up front, with another $130 million […]
Synaptive Medical, Stryker ink co-marketing deal
Synaptive Medical said today that it inked a co-marketing deal with Stryker (NYSE:SYK) for its Modus V digital microscope as it begins a strategic commercial expansion into the spinal surgery market. The Modus V is a robotically controlled digital microscope used as part of Synaptive’s BrightMatter surgical suite designed for less invasive, patient-specific approaches in complex […]
Supremes deny Zimmer Biomet in $250m loss to Stryker
The U.S. Supreme Court today declined to take up the Zimmer Biomet (NYSE:ZBH) appeal of a $248 million loss to Stryker (NYSE:SYK) in a patent infringement case. The case dates back to December 2010, when Stryker sued orthopedics rival Zimmer, alleging infringement of 3 patents covering wound debridement technology by Zimmer’s Pulsavac Plus device. Last December the U.S. Court […]
Stryker inks $30m deal with Conformis
UPDATED Oct. 2, 2019, with details on the agreement. Stryker (NYSE:SYK) inked a deal worth up to $30 million for the customized instrumentation technology developed by Conformis (NSDQ:CFMS). The deal calls for Stryker to pay $14 million up front for the Conformis patient-specific instrumentation, which uses CT scans to create customized, single-use instrumentation for knee replacement […]
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