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Stryker CEO Lobo talks success of Wright Medical merger, increasing competitiveness of surgical robotics

Stryker CEO Kevin Lobo

CEO Kevin Lobo has a lot to be excited about at Stryker — the world’s largest orthopedic device company.

Kevin Lobo has seen many successful acquisitions at Stryker’s helm in the last 10 years. The Kalamazoo, Michigan medtech giant’s recent acquisition of Wright Medical has positioned the company to expand its orthopedics range – adding upper extremities to its vast portfolio of orthopedic devices and robotics.

Stryker announced the $4.7 billion acquisition of Wright Medical in November 2019 but didn’t fully acquire the company until November 2020 because of concerns raised by U.S. and U.K. regulators.

The company added Wright’s upper extremities (shoulder, elbow, wrist and hand), lower extremities (foot and ankle) and biologics devices to its portfolio. It then separated and re-organized its businesses into three separate business units within Str…

Stryker to acquire Vocera Communications for $3.1B

Stryker (NYSE:SYK) announced today that it entered into a definitive merger agreement to acquire Vocera Communications (NYSE:VCRA).

Kalamazoo, Michigan-based Stryker agreed to acquire all issued and outstanding shares of common stock of Vocera for $79.25 per share, reaching a total equity value of approximately $2.97 billion and a total enterprise value of approximately $3.09 billion.

Vocera provides digital care coordination and communication offerings, including the hands-free Vocera Smartbadge. Mobile workers can choose devices for their role or task, including smartphones or one of the company’s wearable communication devices, and use voice commands to reach people by name, role or group, according to a news release.

Stryker said Vocera’s portfolio will help the company address the increasing need for hospitals to connect caregivers and disparate data-generating medical devices, driving efficiencies and improving safety and outcomes. The …

12 of medtech’s biggest personnel changes in 2021

As medtech companies continued to drive innovation throughout the past 12 months, a number of high-level executives led the way.

Some of those companies and those executives opted for major changes over the course of 2021, though, with some high-profile moves from medtech giant to medtech giant.

Here are some of the biggest personnel moves in the medtech space in 2021:

Get the full story at our sister site, Medical Design & Outsourcing.

Medtech’s biggest personnel changes in 2021

As medtech companies continued to drive innovation throughout the past 12 months, a number of high-level executives led the way.

Some of those companies and those executives opted for major changes over the course of 2021, though, with some high-profile moves from medtech giant to medtech giant.

Here are some of the biggest personnel moves in the medtech space in 2021:

1. Medtronic’s internal shuffle causes movement in every direction

At the end of 2020, Medtronic (NYSE:MDT) confirmed that it would reorganize its corporate structure, creating 20 operating units and expecting annual savings of up to $475 million in connection with the changes.

Amid all the change, a number of personnel moves both in and out of the company came over the course of 2021. Among the changes was the big move of Medtronic’s former President of Pelvic Health and Gastric Therapies Brooke Story, who departed to become the worldwide president of BD’s Integra…

The 10 largest medtech employers of 2021 – and what their employees really think

Employees of the 10 largest medtech employers are proud of working on life-saving products — with a greater appreciation for diversity and inclusion initiatives.

That was one major takeaway as Medical Design & Outsourcing compiled some current and former employee reviews posted on Glassdoor. (Browse the online version of our Big 100 report.)

Despite the pride, there was also some frustration with big corporate bureaucracy.

Medtech employment in MDO‘s 2021 Big 100 was down slightly from our 2020 and 2019 reports — even as the industry continued to be on the frontlines of the COVID-19 pandemic. It’s worth noting that of the nearly 90 companies in this year’s Big 100 that provided employment data, about half added workers amid the pandemic. Another handful kept their headcounts the same.

The companies are the largest medical device industry employers in our most recent annual Big 100 list, which includes the top 100 medtech companies across the w…

The 10 largest medtech employers of 2021 – and what their employees really think

Employees of the 10 largest medtech employers are proud of working on life-saving products — with a greater appreciation for diversity and inclusion initiatives.

That was one major takeaway as Medical Design & Outsourcing compiled some current and former employee reviews posted on Glassdoor. (Browse the online version of our Big 100 report.)

Despite the pride, there was also some frustration with big corporate bureaucracy.

Medtech employment in MDO‘s 2021 Big 100 was down slightly from our 2020 and 2019 reports — even as the industry continued to be on the frontlines of the COVID-19 pandemic. It’s worth noting that of the nearly 90 companies in this year’s Big 100 that provided employment data, about half added workers amid the pandemic. Another handful kept their headcounts the same.

The companies are the largest medical device industry employers in our most recent annual Big 100 list, which includes the top 100 medtech comp…

Stryker launches new guide system for ankle surgeries

[Image from Stryker]Stryker (NYSE:SYK) announced today that it launched its Prophecy Infinity resect-through guides for use in total ankle replacement surgeries.

Kalamazoo, Michigan-based Stryker designed its Prophecy Infinity guides to offer ways for surgeons to improve operating room efficiency by reducing potentially time-consuming interoperative steps throughout a streamlined surgical process, according to a news release.

Prophecy Infinity provides fewer steps in total ankle replacement surgeries compared to the Prophecy standard pin-through technique. The system increases OR efficiency by using just one guide for both drilling and cutting, reducing the number of steps in a patient’s surgical plan, Stryker said.

The company noted that the platform’s metal guides maintain cutting stability and optional holes can couple alignment for the talus. The system also offers improved fluoroscopic visualization to help view coronal alignment, positioni…

The 100 largest medical device companies in the world

Nearly half a trillion dollars — $421 billion to be exact — that’s how much the world’s 100 largest medical device companies brought in over the past year amid the COVID-19 pandemic.

That’s one of the big takeaways from the Big 100, MassDevice and Medical Design & Outsourcing‘s annual analysis of the worlds’ 100 largest medtech companies. (Check out the full Big 100 rankings here.)

Aggregate revenue for approximately 100 of the largest medical technology companies dropped 1.2% in 2020 compared to 2019. But that’s not bad considering that the worst pandemic in a century was taking place, sparking a global recession in its wake.

Some medtech businesses that played critical roles fighting the pandemic — such as 3M’s Health Care segment and Hologic — even saw revenues increase and rose in the Big 100 rankings as a result.

Check out the full Big 100 rankings here>>

The 100 largest medical device companies in the world

Nearly half a trillion dollars — $421 billion to be exact — that’s how much the world’s 100 largest medical device companies brought in over the past year amid the COVID-19 pandemic.

That’s one of the big takeaways from the Big 100, MassDevice and Medical Design & Outsourcing‘s annual analysis of the worlds’ 100 largest medtech companies. (Check out the full Big 100 rankings here.)

Aggregate revenue for approximately 100 of the largest medical technology companies dropped 1.2% in 2020 compared to 2019. But that’s not bad considering that the worst pandemic in a century was taking place, sparking a global recession in its wake.

Some medtech businesses that played critical roles fighting the pandemic — such as 3M’s Health Care segment and Hologic — even saw revenues increase and rose in the Big 100 rankings as a result.

Check out the full Big 100 rankings here>>

Stryker stock slips on Q3 earnings miss, full-year guidance downgrade

Shares of Stryker (NYSE:SYK) stock slipped today after the company downgraded its full-year outlook and announced third-quarter operating results that missed Wall Street’s expectations.

The Kalamazoo, Michigan–based orthopedic device maker posted profits of $438 million, or $1.17 per diluted share, on sales of $4.16 billion for the three months ended Sept. 30, 2021, resulting in a bottom-line decrease of 29.5% compared to this time last year. Sales were up 11.3%.

Adjusted to exclude one-time items, earnings per share were $2.20, 8¢ short of the Wall Street consensus forecast, where analysts were looking for adjusted EPS of $2.28 on sales of $4.23 billion.

Stryker, like many of its peers, reported continued headwinds from the COVID-19 pandemic, particularly the Delta variant wave that forced American hospitals to prioritize critical cases and push back elective surgeries.

“This latest spike mostly impacted our U.S. implant-related businesses …

Women researchers receive a fraction of funding from the world’s biggest medtech companies

The gender divide in medtech extends beyond leadership and into funding for investigational studies by U.S. physicians.

Only 6.7% of physicians who received research payments from the world’s largest medical device companies in 2020 were women, according to an analysis of Medical Design & Outsourcing’s Big 100 list of medtech companies and CMS Open Payments data.

Among the 20 medical device companies that fund research by U.S. physicians are 3M, Abbott, BD, Boston Scientific, Johnson & Johnson (dba J&J Surgical Vision and J&J Vision Care), Medtronic (dba Medtronic, Medtronic Minimed, Medtronic USA, Medtronic Vascular), Royal Philips (dba Philips Electronics), Stryker and Zimmer Biomet.

Together, those companies paid $3.9 million to 312 doctors in 2020, but only 21 were women, receiving a collective $402,600.

Women physicians, on average, received 15.7% of payments from each of the top medtech companies, but accounted f…

September 2021 Issue: Our latest Medical Device Handbook is out!

Making medical devices: Everything you need to know

The innovation-fueled evolution of drug eluting stents

Dexcom CEO Kevin Sayer says G7 will be ‘wonderful’

Getting the inside scoop behind top medtech innovations

Autumn is upon us, and it is once again time to sip a pumpkin spice latte — or a pumpkin beer — and crack open our latest Medical Device Handbook.

Once again, we’ve reached out to experts across the industry to curate dozens of “what is” and “how to” types of articles that cover a breadth of categories: components, drug delivery, manufacturing and machining, materials, product design and development, regulatory, software, sterilization services and tubing.

As the years go by, I’m proud that we’re including more insights from the major medical device companies in each succeeding issue. This time around, we spoke to experts involved in some of the major industry innovations of the past decade:

Now VP of R&D …