Stryker in 2023 has seen continued revenue growth and made progress with its spine portfolio.
Five things to know ahead of 2024:
1. Stryker saw year-over-year revenue growth in the first, second and third quarters of 2023.
2. The company is gearing up for the release of its Mako spine robot, which is expected in mid-2024. The spine robot's launch will focus on pedicle screw placement, according to a Nov. 2 earnings call. A shoulder robot is also in the works.
3. Stryker in May said it plans to lay off more than 500 employees by the end of 2023, according to a WARN notice. The move comes as it closes its Lakeland, Fla. facility.
4. In May, Stryker acquired Cerus Endovascular, whose portfolio includes multiple CE marked products to bolster the company's aneurysm treatment business.
5. Stryker in 2023 gained ground with its Q Guidance system for spine and cranial guidance. It debuted in May and surpassed 2,400 cases in October.