Kalamazoo, Michigan – November 10, 2011 – Stryker Corporation (NYSE:SYK) announced its intention to implement focused workforce reductions of approximately 5% of its global workforce and other restructuring activities that are anticipated to reduce annual pre-tax operating costs by over $100 million beginning in 2013. The targeted reductions and other restructuring activities are being initiated to provide efficiencies and realign resources in advance of the new Medical Device Excise Tax scheduled to begin in 2013, as well as to allow for continued investment in strategic areas and drive growth despite the ongoing challenging economic environment and market slowdown in elective procedures.
Stryker
Supreme Court disses Stryker in product liability case | Legal Roundup
The U.S. Supreme court refused to hear an appeal by Stryker Corp. (NYSE:SYK) in a product liability lawsuit filed over its recalled Trident hip implant.
Supreme Court denies Stryker, Volcano’s Q3 profits plunge 50 percent, Surgical robot brings precision to eye surgery | MassDevice.com +3
Say hello to MassDevice +3, a bite-sized view of the top three med-tech stories of the day. This latest feature of MassDevice.com’s coverage highlights our three biggest and most influential stories from the day’s news to make sure you’re up to date on the headlines that continue to shape the medical device industry.
If you read nothing else today, make sure you’re still in the know with MassDevice +3.
LeMaitre Vascular CEO: Two new products on tap | Wall Street Beat
George LeMaitre, chairman & CEO of the vascular device firm that bears his name, told analysts on a conference call that LeMaitre Vascular (NSDQ:LMAT) has two new products it expects to launch during the fourth quarter.
The Burlington, Mass.-based company is in the last stages of post-approval trials for the devices – the UnBalloon and an over-the-wire device used to excise heart valves – LeMaitre said during a call to discuss LMAT’s third-quarter numbers.
Supreme Court denies Stryker in product liability case
The U.S. Supreme court refused to hear an appeal by Stryker Corp. (NYSE:SYK) in a product liability lawsuit filed over its recalled Trident hip implant.
Replacement hip makers scale back doc payments after kickback scandal | MassDevice.com On Call
MASSDEVICE ON CALL — The top artificial hip and knee makers cut spending on consultants after a federal case charged them with providing illegal kickbacks.
Stryker Corp. boosts forecast even as profits slip
Stryker Corp. (NYSE:SYK) boosted its full-year forecast for 2011 after posting strong third-quarter sales.
The Kalamazoo, Mich.-based company posted net income of $327 million, or 84 cents per share, on sales of $2.03 billion for the three months ended Sept. 30, down 3 percent compared to $337 million, or 85 cents per share, on $1.76 billion in sales during the same period last year.
Wall Street analysts had expected profits of 85 cents per share on $2.03 billion in sales.
Is AtriCure on the auction block? | Wall Street Beat
AtriCure Inc. (NSDQ:ATRC) could be poised for a buyout over the next year to 18 months, according to Canaccord Genuity analyst Jason Mills.
