12 Stryker developments in the last 6 months

Paige Haeffele -  

Key notes on medical technology giant Stryker's moves reported by Becker's from Feb. 10 to June 12:

  1. Stryker was named on Forbes' 2022 list of America's best large employers in February.
  2. On Feb. 23, Stryker acquired Vocera Communications, a provider of clinical communication and workflow products, for $3.1 billion.
  3. In March, the company launched its Insignia hip stem for total hip and hemiarthroplasty procedures that's compatible with its Mako SmartRobotics.
  4. As of March 31, more than 1,000 of Stryker's Mako systems for total knee replacements have been installed worldwide.
  5. In April, the company reported $4.3 billion in first-quarter net sales and saw 5.1 percent growth in its orthopedics and spine business.
  6. In April, CMS granted an outpatient code for Stryker's InSpace balloon implant, used for massive irreparable rotator cuff tears and designed to restore the subacromial space. It's a less invasive option than fixation devices or grafts.
  7. In April, Spruce Point Capital, an investment management company, claimed Stryker historically overpays in acquisitions, robotics guidance and other business operations, sparking an investigation from a stockholder rights law firm. 
  8. In early May, Stryker announced changes to company leadership. Stryker laid off 88 employees at its Lakeland, Fla., production facility in late May as part of plans to close the Lakeland facility by the end of 2023. In December 2021, 22 employees were laid off, and 495 total workers are expected to be let go.
  9. Stryker's Q guidance system, designed for advanced surgical planning and intraoperative guidance for open or percutaneous computer-assisted surgery, received FDA 510(k) clearance for spine surgery applications May 31. It's used with Stryker's Spine Guidance software.
  10. Stryker opened a research and development facility at the International Tech Park in Gurgaon, India, June 7. The Global Technology Centre is a 150,000-square-foot facility dedicated to accelerating innovation in India and globally.
  11. On June 12, the company sold its orthopedic tumor system, Juvenile, to Onkos Surgical, a devicemaker specializing in musculoskeletal oncology and complex orthopedics.

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