Stryker Archives - Page 15 of 17 - Medical Design Sourcing

January 2021 Issue: The Leadership in Medical Technology Issue

9 lessons in crisis management from Stryker CEO Kevin Lobo

These 10 stories mattered the most for medtech in 2020

How ResMed is advancing sleep and respiratory care

How Dexcom CEO Kevin Sayer is leading the company forward

Black engineers group works to promote diversity in medtech, equity in healthcare

Taking the guesswork out of tracking high blood pressure

Medtronic CEO Geoff Martha explains the importance of competition

Lessons learned help medtech move ahead

The most unsettling year that most anyone can remember had some upsides. We learned more than we wanted about a virus that continues to surpri…

These medtech stocks performed the best in 2020

(From Ishant Mishra on Unsplash)

While 2020 did not go as planned for anyone, with the twists and turns came opportunities for medtech companies to power forward.

Innovations came both as a result of the COVID-19 pandemic and perhaps in spite of the challenges brought on by the virus, highlighted by the increased efforts to produce vaccines and testing while pivoting to artificial-intelligence-based and remote care.

Companies like Moderna arose from nowhere, climbing from a share price of $19.52 to $104.47 over the course of the year as it established itself as a frontronner in the race to get a COVID-19 vaccine to the public, eventually becoming the second vaccine authorized in the U.S.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — has hit new heights over the course of 2020, indicating the upward trajectory of the industry. Over the course of the year, the index grew from a total of $86.8…

These medtech stocks performed the best in 2020

(From Ishant Mishra on Unsplash)

While 2020 did not go as planned for anyone, with the twists and turns came opportunities for medtech companies to power forward.

Innovations came both as a result of the COVID-19 pandemic and perhaps in spite of the challenges brought on by the virus, highlighted by the increased efforts to produce vaccines and testing while pivoting to artificial-intelligence-based and remote care.

Companies like Moderna arose from nowhere, climbing from a share price of $19.52 to $104.47 over the course of the year as it established itself as a frontronner in the race to get a COVID-19 vaccine to the public, eventually becoming the second vaccine authorized in the U.S.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — has hit new heights over the course of 2020, indicating the upward trajectory of the industry. Ove…

Medtronic’s Kowal explains how remote medtech got its groove back

In this week’s DeviceTalks Weekly Podcast, Dr. Robert Kowal CMO of Medtronic’s cardiac rhythm and heart failure business and vice president of medical affairs, explains how new tech, savvy patients, eager physicians and, yes, COVID-19, has fueled a renaissance for remote technology, once seen as a mature, staid business.

Kowal, who left clinical practice to join Medtronic in 2017, identifies the building blocks that have allowed companies like Medtronic to provide devices that provided essential connectivity during the ongoing pandemic.

“Five or 10 years ago we were all saying cardiac implantable devices were a mature market, not much happening,” Kowal says. “Now, between the technology, these new devices and digital interconnectivity I don’t see it as mature any more. It’s a spry, young area once again. It’s. a lot of fun to be working in it right now.”

Kowal shares stories on how connectivity migh…

9 lessons in crisis management from Stryker CEO Kevin Lobo

Decades of corporate leadership helped him address the challenges that 2020 wrought.

Stryker CEO Kevin Lobo

The past year presented extraordinary leadership challenges for CEOs. First came the COVID-19 pandemic, then social unrest following the killing of George Floyd, and finally a contentious election that tore at the political connective tissue of the nation.

The year may have been unique, but Stryker CEO Kevin Lobo said his strategies at the orthopedics giant drew upon upon basic tenets of leadership that he learned leading businesses in first the chemical and then medical device industries. He joined medtech in 2003 when he took a senior post at Johnson & Johnson.

“All crises have similarities,” Lobo told Medical Design & Outsourcing. “Obviously the magnitude of this is unprecedented. I’ve never been through anything like this, but I’d been through other crises before.”

(Listen to the DeviceTalks Weekly interview with Lobo.)

L…

Stryker acquires OrthoSensor and its knee surgery sensor tech

Stryker (NYSE:SYK) announced today that it has bought privately-held OrthoSensor and its Verasense intraoperative sensor tech that could further enhance the ortho giant’s Mako robots.

The financial terms of the deal were not disclosed.

Stryker officials in a news release noted that Verasense since 2011 has proved itself to be a unique knee balancing solution in Stryker’s Triathlon knee system, providing feedback to surgeons on soft tissue. They think the sensor tech will further boost Mako surgical robotics systems, enhancing workflow through one complete data-driven feedback mechanism.

Additionally, OrthoSensor’s MotionSense remote patient monitoring wearables and mobile application combined with the OrthloLogIQ cloud-based data platform could up Stryker’s data analytics capabilities.

“Smart devices and implants will play a big role in orthopaedics and we are excited for OrthoSensor to join Stryker as we continue to innovate an…

BofA bullish on medtech as surgeries increase

Bank of America analysts say that they are bullish over the medtech industry as surgical procedure recoveries in recent months bode well for the field.

In an analysis published yesterday, BofA said medtech management teams are likely remaining cautiously optimistic amid recovery efforts brough on by the impact of COVID-19, but they are growing in confidence with regard to the quality and durability of demand for their products, with Medtronic’s (NYSE:MDT) recent earnings call and talks with Stryker (NYSE:SYK) suggesting the air of confidence.

Additionally, BofA analysts say that, as innovation pipelines are full, valuations in the industry remain reasonable, there is no drug pricing risk and medtech has outperformed the last three recessions.

Medtronic, Stryker and Baxter (NYSE:BAX) are three companies driving the narrative behind the BofA analysts’ confidence, but they did downgrade Intuitive Surgical (NSDQ:ISRG) from “Buy” to &#…

MedTech 100 roundup: Stocks top pre-pandemic high

After weeks of flirting with the heights hit before COVID-19 ravaged the markets, medtech stocks finally topped the pre-pandemic high last week.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — spiked up to 93.11 points on Sep. 2, nearly a full point ahead of the pre-pandemic high of 92.32, which the market reached on Feb. 19.

Medtech stocks had hit a previous mid-pandemic high of 91 points last week, hanging around there before the sudden rise to 93.11, which was followed by a quick dip to 90.64 points 24 hours later.

The index dipped from that peak, though, sitting at 89.29 points at the end of last week (Sep. 4). Overall, medtech stocks saw a -1.6% decrease from the 90.78-point total at the same time a week prior (Aug. 28).

The most recent high mark represents a 0.9% rise from the Feb. 19 high point of 92.32, while the tally at the end of the week marks a -3.3% decrease from that pre-pande…

Stryker may sell certain assets to enable Wright Medical purchase

Stryker (NYSE:SYK) has proposed a plan to divest certain assets to Colfax (NYSE:CFX)/DJO Global in an effort to complete its acquisition of Wright Medical (NSDQ:WMGI).

Kalamazoo, Mich.-based Stryker’s proposed divestitures of its STAR total ankle replacement product, plus related assets, and its finger joint replacement products, is in connection with the Federal Trade Commission’s review of the ongoing effort to purchase Wright Medical, according to an SEC filing.

Stryker’s proposal needs regulatory approvals and the execution of definitive documents, so there is no guarantee that it will go through, the filing said.

The acquisition has been in the works for several months, as Stryker announced the $4.7 billion purchase in November 2019. Since then, the FTC increased its scrutiny of the proposed merger in January and a Wright Medical shareholder filed a proposed class-action lawsuit to block it later that month, in addition to probing …

MedTech 100 roundup: Industry reaches new heights again

The past month has seen a resurgence from medtech companies in the markets and last week saw the best performance yet.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 90.78 points at the end of last week (Aug. 28). Overall, medtech stocks saw a 1.3% increase from the 89.6-point total at the same time a week prior (Aug. 21).

While 90.78 points is already the highest total on which the index has ended a week during the COVID-19 pandemic, just the day before, the index hit 91 points even, marking the highest point total since the pandemic took its toll.

The most recent high mark represents just a -1.4% dip from the Feb. 19 high point of 92.32, while the tally at the end of the week marks a -1.7% decrease from that pre-pandemic high.

Meanwhile, the S&P 500 Index saw a 3.3% increase from Aug. 14 to Aug. 21, having steadily climbed since reaching record highs on Aug. 18. Meanwhile, the …

Stryker extends its bid for Wright Medical — again

Stryker (NYSE:SYK) announced today that it extended the offering period of its cash tender offer for all shares of Wright Medical (NSDQ:WMGI).

Kalamazoo, Mich.-based Stryker’s indirect, wholly-owned subsidiary, Stryker B.V., officially extended the offering period until an expiration date of 5 p.m. ET on Aug. 31, 2020 back in June. Today’s extension sets the expiration of the offer at 5 p.m. ET on Sep 30, 2020, unless it is further extended or earlier terminated, according to a news release.

As of the end of yesterday, more than 13.6 million Wright Medical ordinary shares (10.5% of the outstanding shares) have been validly tendered pursuant to the offer and not properly withdrawn. An additional 729,308 Wright Medical shares (0.6% of outstanding ordinary shares) were tendered pursuant to guaranteed delivery procedures.

Shareholders who already tendered their Wright Medical ordinary shares do not have to re-tender their shares or take any other actio…

Stryker launches cobalt chromium flow diverter

Stryker this week said it launched its Surpass Evolve flow diverter after it received FDA approval.

The flow diverter is a 64-wire cobalt-chromium device designed to re-direct blood flow and promote aneurysm healing. It follows the company’s launch of Surpass Streamline in 2018.

“This device builds on the success of Surpass Streamline, offering a highly optimized and easy to use flow diverter. By increasing the braid angle, the novel 64-wire device delivers excellent flow diversion and a highly flexible implant for enhanced vessel wall contact. The higher mesh density of Surpass Evolve versus traditional 48-wire flow diverters may lead to faster aneurysm occlusion for patients,” Dr. Ajay Wakhloo, the first physician to complete a commercial case in the U.S. with the device, said in a news release.

Stryker launched the Surpass Evolve in Europe last year and said it has since been approved in over 45 countries. More than 1,500 patients h…