Five updates from Stryker since mid-September:
1. Stryker Performance Solutions sold its BPCI-A value-based care convener business to Phoenix-based Healthcare Outcomes Performance Co., along with segments of the SPS health system orthopedic service line analytics subscription business.
2. Stryker progressed its efforts in the spine space. The device company launched the Niagara Lateral Access System at the North American Spine Society Annual Meeting in early October, and in December, its SpineJack implantable fracture reduction system qualified for CMS' transitional pass-through payment as part of the 2021 Medicare Hospital Outpatient Prospective Payment System.
3. Stryker introduced ProCuity, the industry's first completely wireless hospital bed, Oct. 19. ProCuity was designed to reduce in-hospital falls and improve nurse workflow efficiency, the news statement said. It can connect to nurse call systems without cables or wires and can be equipped with fully wireless features. Touchscreens and other key components are expected to make caregivers' workflows more efficient.
4. Stryker closed its acquisition of Wright Medical Nov. 11. Stryker received regulatory approvals for the acquisition earlier in November.
"This acquisition enhances our global market position in trauma and extremities, providing significant opportunities to advance innovation and reach more patients," Kevin Lobo, Stryker chair and CEO, said in the release. "We welcome the Wright Medical team to Stryker and look forward to growing the combined business by delivering solutions that improve patient outcomes."
5. Stryker added Giovanni Caforio, MD, to its board of directors on Dec. 1. Since 2015, Dr. Caforio has served as CEO of biopharmaceutical company Bristol Myers Squibb. He assumed the role of chairman of the board in 2017.