Stryker Archives - Page 16 of 18 - Medical Design Sourcing

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ordinary shares (10.5% of the outstanding shares) have been validly tendered pursuant to the offer and not properly withdrawn.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…

MedTech 100 roundup: Stocks were practically unchanged last week

Despite plenty of ups and downs coming in the stock market for the medtech industry, there was hardly any movement from week to week.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 89.6 points at the end of last week (Aug. 21). Overall, medtech stocks saw a -0.2% decrease from the 89.77-point total at the same time a week prior (Aug. 14).

Once again, the index nearly reached a high point during the COVID-19 pandemic, as on Aug. 18, it hit 90.4 points for the second time in as many weeks, a total that nearly poked past the previous mid-pandemic high (90.45), which came on Aug. 5.

The most recent high mark represents just a -2.1% dip from the Feb. 19 high point of 92.32, while the tally at the end of the week marks a -2.9% decrease from that pre-pandemic high.

Meanwhile, the S&P 500 Index saw a 0.72% increase from Aug. 14 to Aug. 21, having reached record highs on Aug. 18. Meanwhil…

The top 5 medtech CEO quotes about COVID-19

The latest earnings season not only provided insights from top medtech CEOs about how the COVID-19 pandemic is changing the industry, but also lessons learned going forward.

Here are five top quotes about lessons learned.

Next>>

DeviceTalks editorial director Tom Salemi contributed to this report.

The top 5 medtech CEO quotes about COVID-19

The latest earnings season not only provided insights from top medtech CEOs about how the COVID-19 pandemic is changing the industry, but also lessons learned going forward.

Here are five top quotes about lessons learned.

Next>>

DeviceTalks editorial director Tom Salemi contributed to this report.

Conformis reaches second milestone in Stryker deal

Conformis (NSDQ:CFMS) announced today that it completed the second of three milestones in its license and development agreement with Stryker (NYSE:SYK).

Under the agreement, Conformis is set to receive an additional $3 million from Stryker after achieving the milestone as it develops patient-specific instrumentation (PSI) for use in connection with Stryker’s knee implant offerings.

“We are pleased to announce the achievement of the second project milestone,” Conformis president & CEO Mark Augusti said in a news release. “We believe that this project, as well as the long-term distribution agreement under which Conformis will manufacture and supply PSI to Stryker, will create value for our shareholders as we successfully support the increasing demand for efficient outpatient joint replacement.”

Billerica, Mass.-based Conformis initially announced the agreement, worth up to $30 million, in October 2019. The deal called for Stryker to pay $14 milli…

Medtech and COVID-19: 7 things you need to know

[Photo by Sasha • Stories on Unsplash]

When COVID-19 set upon the U.S. in March, medtech executives only had a month at most to explain to analysts in quarterly calls how the pandemic was hitting their companies — not nearly enough time to understand the long-term impact.

Three more months have passed since those quarterly calls, and we’re now wrapping up a new earnings season. While no one can be 100% sure what the future will hold, medtech executives’ comments — and their companies’ actions — are shedding some light on changes coming to the medtech industry.

Here are seven insights we’ve gleaned at Medical Design & Outsourcing and MassDevice from the latest medtech earnings season.

Next>> Listen to us discuss all 10 points during our latest DeviceTalks Weekly podcast>>

Executive editor Chris Newmarker contributed to this report.

DTW Podcast: 10 ways medtech is finding its footing amid COVID-19

When COVID-19 set upon the U.S. in March, medtech executives had a month at most to tell Wall Street analysts how the pandemic had hit the industry’s largest companies. We heard about short-term hits in revenues, procedures and employee headcounts, but uncertainty clearly ruled the day.

Over the past few weeks, medtech executives from several leading companies reported back to analysts with a full quarter under their belt. To be sure, no one can claim to hold a full grasp on this crisis, but a survey of the calls reveals steps and adjustments that companies are taking to thrive beyond the pandemic.

In this podcast, we’ll list our Top 10.

Don’t miss an episode! Subscribe to DeviceTalks Weekly on your podcast players. It’s available on Apple Podcasts, Spotify and other podcast channels.

DeviceTalks by MassDevice · Ten ways medtech companies are finding their footing during the pandemic

Stryker brain aneurysm stent wins expanded indication for posterior use

Stryker (NYSE:SYK) recently announced its Neuroform Atlas Stent System received expanded indication from the FDA.

The Neuroform Atlas Stent System is now approved for use in the posterior circulation. With the approval, the company said long term treatment is more feasible with the device.

Prior to the new indication, the stent system was approved for use in the anterior circulation of the brain. Expanded indication was granted based on clinical trial evidence proving the safety and efficacy of the device.

“The Atlas Posterior PMA trial data shows a compelling advancement in the treatment of wide-neck posterior aneurysms,” Sam Zaidat, an investigator on the U.S. Neuroform Atlas investigational trial, said in a news release. “Posterior stent-assisted coiling with Neuroform Atlas achieved an impressively high rate of complete occlusion in this very challenging location at 76.7%. Equally impressive was the 4.3% primary safety rate.”<…

MedTech 100 roundup: Industry hits another mid-pandemic high

Despite a minor regression week-over-week, the medtech industry’s stocks hit another milestone as the COVID-19 rebound remains in progress.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 89.01 points at the end of last week (July 31). Overall, medtech stocks saw a -0.3% increase from the 89.29-point total at the same time a week prior (July 24).

On July 30, the index reached 90.37 points, marking its highest point since that pre-pandemic high, with the previous mid-pandemic high (90.11) coming last week.

The most recent high mark represents just a -2.1% dip from the Feb. 19 high point of 92.32, marking the smallest margin of decline over the past five months.

Meanwhile, the S&P 500 Index saw a 1.7% increase from July 24 to July 31, and the Dow Jones Index posted a -0.2% drop over the same period of time.

Medtech’s lowest point during the COVID-19 pandemic remains at …

Hospital traffic continues to moderately decline, Jeffries reports

[Image from Unsplash]

Market researcher Jefferies reports that hospital traffic in the U.S. remains on a moderate decline over the past four weeks through July 26.

Seeking to inform the recovery in medical procedures after the COVID-19 pandemic caused the delay or deferral of them over the past five months or so, Jefferies is observing 3,300 U.S. hospitals on a weekly basis, according to its analysis.

As of July 26, the analysts had the hospital traffic index at 58.7, slightly down from the previous week’s total of 59.1. Currently, hospital traffic is down 15.2% from late June.

The index had hit its most recent high of 69.2 on June 28, but that further illustrates a decline from the beginning of the pandemic in March, when the index sat around 90 points. In the months prior to that, the index remained around the 100-point mark.

In recent earnings reports, various …