Stryker Archives - Page 3 of 18 - Medical Design Sourcing

‘Love, yet fear’ — how medtech is stepping into the digital sphere

Robert Cohen of Stryker offered his thoughts on how medtech is adopting digital technologies. [Photo courtesy of Stryker]Dr. Rajiv Sethi likes to compare the implementation of digital technologies and automation in medtech to the automation in an airplane.

If the pilots experienced an issue with their technology or the weather, for instance, they could manually interject, he says. But, the “vast majority of the work” goes down to automation.

Sethi serves as a clinical professor for health systems and population health and executive director of the Center for Neurosciences and Spine at the University of Washington School of Medicine and Virginia Mason Medical Center. He explained his airplane and operating room analogy today at AdvaMed’s The MedTech Conference in Anaheim, California.

Sethi spoke on a panel titled “Digital is the New Frontier: Are We Stepping Into it Boldly?” (Want to find out more about digital surgery, artifici…

Stryker launches minimally invasive surgical bunion treatment

The PROstep MIS Lapidus. [Image courtesy of Stryker]Stryker (NYSE: SYK) + announced that it launched the PROstep MIS Lapidus fixation system for bunions.

Kalamazoo, Michigan-based Stryker designed the system to treat bunions using a minimally invasive surgical reduction. It uses the hallux valgus deformity and subsequent fusion of the first metatarsal cuneiform joint.

Traditionally, surgeons performing Lapidus bunion procedures use an open approach. Stryker cites surgeon and patient advantages with minimally invasive techniques, though. PROstep MIS Lapidus offers powerful fixation stability through a minimal incision.

The new technology features MIS joint preparation, triplanar reduction and a three-screw construct that creates a tension band for biomechanical stability.

Stryker highlights benefits including a 2.5% decrease in recurrence compared to open Lapidus procedures. The company saw a 9% reduction in …

These devices are the top targets of lawsuit-related advertisements

Surgical mesh products continue to drive medical device lawsuit spending. [Photo via Adobe Stock]

Spending on advertisements related to medical device lawsuits this year is on track to exceed last year’s tally.

That’s according to figures provided by Washington, D.C.-based X Ante, which uses data from ad intelligence firm Vivvix. X Ante supplies reports on medical device lawsuit ad spending to the Advanced Medical Technology Association (AdvaMed), which is calling for new federal regulations of mass tort advertising to protect device manufacturers from lawsuits bankrolled by third-party funders.

For the first half of 2023, $6.2 million worth of legal ads targeted five kinds of medical devices:

Pelvic mesh: $3.5 million Hernia mesh: $1.9 million CPAP machines: $532,000 Physiomesh: $262,000 Military earplugs: $54,000

Spending on the top five device categories totaled just under $11 mil…

Stryker unveils next-gen minimally invasive surgical camera

The 1788 camera. [Image courtesy of Stryker]Stryker (NYSE: SYK) + announced today that it unveiled its next-generation 1788 surgical camera platform.

Kalamazoo, Michigan-based Stryker designed the fully enhanced, minimally invasive camera to advance surgery across multiple specialties.

The all-in-one surgical camera platform offers more vibrant images with balanced lighting. It also features a wider color gamut and clearer delineation of fluorescence signals, Stryker said in a news release. The company says the camera improves the visualization of blood flow and critical anatomy, visualizing multiple optical imaging agents.

Dr. Matthew Albert, colon and rectal surgeon at Advent Health, said dependable imaging represents one of the most critical factors in surgical outcomes.

“With the enhanced imaging capabilities of the 1788, surgeons have a complete surgical camera technology that provides consistent …

AdvaMed takes aim at device lawsuits funded by third parties

The Advanced Medical Technology Association (AdvaMed) is asking for new regulations to protect device manufacturers from lawsuits bankrolled by third-party funders.

Ahead of a U.S. House Committee on Oversight and Accountability hearing on the topic tomorrow, AdvaMed General Counsel and Chief Policy Officer Chris White submitted a letter in which he said “most mass tort litigation against medical device manufacturers is fueled by banks, private equity firms and hedge funds.”

AdvaMed wants new federal regulations of mass tort advertising like laws passed in Tennessee and Texas.

“The influx of billions of dollars of third-party litigation funding has fundamentally changed the dynamics of mass tort litigation,” White wrote. “These financiers are injecting huge amounts of investment capital into creating litigation regardless of the merits,” White wrote in the letter. “They start by funding mass marketing campaigns on TV, radio,…

FDA clears Pangea trauma systems from Stryker

Stryker (NYSE:SYK) announced today that its Pangea systems — including femur, fibula, tibia, humerus and utility — received FDA 510(k) clearance.

Kalamazoo, Michigan-based Stryker designed its Pangea systems with collaborative efforts from world-renowned orthopedic surgeons. The plates offer an evidence-based design for implant fit.

The company said in a news release that it designed the system to enhance plate fit and screw placement. It also elevates the plating market through anatomically contoured implants in patient populations with a wide variety of fracture patterns. Stryker says its intuitive and streamlined instrumentation and implant trays include 20 anatomic plates and 13 utility plates. The company made them all accessible through just the one platform.

Stryker plans to feature its Pangea systems at the Annual Orthopaedic Trauma Association next month in Seattle.

“FDA clearance is a critical milestone for our Pangea Systems,” said Eric…

What are the largest medical device companies?

Medtronic, Johnson & Johnson MedTech and Siemens Healthineers again lead the Medtech Big 100 list of largest medical device companies.

However, there is so much more to Medical Design & Outsourcing and MassDevice‘s 2023 edition of the Medtech Big 100 report. We pulled thousands of data points to provide information on annual revenue, R&D spending, headcount, CEOs and key leaders, headquarters locations and descriptions of each of the 100 largest medical device companies.

Senior Editor Danielle Kirsh’s analysis shows that even as the largest medtech companies engaged in layoffs over the past year, they also made a bet on innovation to boost future growth: R&D spending increased nearly 13% to $26.4 billion. (Read the full story on MDO.)

In addition, the full Medtech Big 100 list includes already completed medtech company spinoffs such as Embecta , GE HealthCare and ZimVie.

Read the full Medtech Big 100 report to find out …

The 10 largest orthopedic device companies in the world

The goal of Stryker’s Mako robotic-arm assisted surgery is to provide more predictable outcomes. [Image courtesy of Stryker]

Two of the world’s largest orthopedic device companies expect accelerated revenue growth this year.

Stryker and Zimmer Biomet both upped their 2023 guidance during recent earnings calls, a sign that orthopedic procedures are bouncing back from the COVID-19 pandemic.

GlobalData predicted earlier this year that the recovery will lift the ortho devices market to nearly $50 billion this year. The question is whether companies can continue the momentum. Stryker and ZB are betting on innovation, building arrays of products and services around their surgical robotics systems and surgical planning and digital health tools.

During Zimmer Biomet’s second-quarter earnings call, CEO Bryan Hanson noted that ZB has 40 planned product launches between this year and the end of 2025, the …

The 10 largest orthopedic device companies in the world

The goal of Stryker’s Mako robotic-arm assisted surgery is to provide more predictable outcomes. [Image courtesy of Stryker] Two of the world’s largest orthopedic device companies expect accelerated revenue growth this year.

Stryker (NYSE: SYK) + and Zimmer Biomet (NYSE: ZBH) + both upped their 2023 guidance during recent earnings calls, a sign that orthopedic procedures are bouncing back from the COVID-19 pandemic.

GlobalData predicted earlier this year that the recovery will lift the ortho devices market to nearly $50 billion this year. The question is whether companies can continue the momentum. Stryker and ZB are betting on innovation, building arrays of products and services around their surgical robotics systems and surgical planning and digital health tools.

During Zimmer Biomet’s second-quarter earnings call, CEO Bryan Hanson noted that ZB has 40 planned product …

Stryker launches direct-to-patient marketing campaign for Mako surgical robot

[Image courtesy of Stryker]Stryker (NYSE: SYK) + announced today that it launched a nationwide, direct-to-patient marketing campaign.

The “Scan. Plan. Mako Can.” marketing campaign aims to drive patient awareness of its Mako SmartRobotics platform. The surgical robotic system offers an option for those who need joint replacement surgery due to arthritis of the knee or hip.

“‘Scan. Plan. Mako Can.’ is rooted in the foundation of Mako SmartRobotics,” said Don Payerle, president of Stryker’s Joint Replacement division. “We have an unwavering commitment to revolutionizing joint replacement technology and enabling surgeons to achieve enhanced outcomes for their patients. We are eager to share this campaign with patients experiencing joint pain so they can seek care and begin their journey towards returning to the activities they love.”

The campaign promotes CT-based …

Stryker surpasses Q2 forecasts, boosts full-year outlook

Stryker (NYSE: SYK) + this evening reported second-quarter results that beat the Wall Street consensus forecast, prompting it to up its full-year guidance.

The Kalamazoo, Michigan–based orthopedic device giant reported an 11.2% year-over-year increase in Q2 sales to $5.0 billion, surpassing the analysts’ anticipated revenue of $4.82 billion. Earnings were up 12.% to $738 million for the quarter ended June 20, 2023.

Stryker reported EPS growth of 12.2% to $1.93, with adjusted EPS up 12.9% to $2.54, beating The Street’s consensus of $2.38 by 16¢.

“We delivered strong organic sales growth in the second quarter as demand for our products remains strong,” CEO Kevin Lobo said in a news release. “We are back on our margin expansion pathway, and our supercycle of innovation is going well.”

Both of Stryker’s business segments exhibited strong performance. MedSurg and Neuro…

Stryker launches Q guidance with cranial guidance software

A surgeon uses the Q Guidance System with cranial guidance software. [Image courtesy of Stryker]Stryker (NYSE: SYK) + announced today that it launched its Q Guidance System with cranial guidance software.

The Kalamazoo, Michigan-based orthopedic giant began surveillance cases for the platform in May. Stryker designed the Q Guidance System as an image-based planning and intraoperative platform. The company launched the system for spinal applications in September 2022. This latest iteration offers support for cranial surgeries. Stryker received FDA clearance for it in February.

Q Guidance with cranial guidance software provides assistance in instrument positioning and patient anatomy identification during cranial surgery. Uses include for craniotomies, skull base and transsphenoidal procedures, plus shunt placements and biopsies.

This launch comes on the heels of last week’s Ortho Q fully autonomous guidance sy…