From a new president of its spine division to an impressive first-quarter performance and an expanded orthopedic portfolio, here are six key developments at Stryker in the past six months:
1. Robbie Robinson was appointed president of Stryker's spine division on June 1. He has spent 17 years with the devicemaker, where he has served as vice president and general manager of the orthopedic instruments business and vice president and general manager of the interventional spine business, among other positions.
2. In the first quarter, Stryker posted $1.5 billion in orthopedics sales, a 21.4 percent increase compared to the first quarter of 2020. Neurotechnology and spine net sales increased 14 percent year over year to $848 million. The company will host its second quarter earnings call on July 27.
3. Stryker's Mako robot has grown in the past 18 months, the company has not provided a timeline for a spine surgical robot yet. "We have two options for spine," CEO Kevin Lobo said during the company's 2020 earnings call in January. "One is the robotic program that was being developed by Mobius prior to the acquisition, as well as Mako. We have work done in both areas. But I'm not ready to give timelines."
4. Stryker's SpineJack, an implantable fracture reduction device, is one of 14 technologies included in a CMS proposal, which would extend new technology add-on payments for products that would otherwise be discontinued in fiscal year 2022.
5. In May, Stryker showcased its new-look foot and ankle portfolio, which comprises orthopedics and biologics-focused products developed by Wright Medical, acquired in a $4 billion deal in November.
6. Stryker began 2021 with the acquisition of OrthoSensor, a digital orthopedic technology company focused on total joint replacements. The acquisition complements Stryker's Mako SmartRobotics technology to enhance the robotic workflow through a single data-driven feedback mechanism.