From the launch of new orthopedic applications to new executive leader nominations and appointments, it has been a big year for medtech company Stryker.
Here are some of Stryker's biggest shake-ups since the start of 2023:
1. Stryker has expanded its Gamma4 hip fracture nailing system, adding an intermediate nail, the RC lag screw, and an anti-rotation clip with sleeve components. Since the Gamma4 system launched in August 2022, it has been used in more than 19,000 cases at 850 facilities nationwide.
2. For the first time in its history, Stryker's full-year sales surpassed $20 billion in 2023. In 2023, Stryker saw year-over-year revenue growth in the first, second and third quarters.
3. Stryker is preparing for the upcoming launch of its Mako shoulder and spine applications in the second half of 2024. Stryker originally announced plans for shoulder and spine applications in 2022 and has since remained on track with its development.
4. Stryker acquired France-based joint replacement company Serf SAS, which focuses on hip implants and is the company behind the Dual Mobility Cup.
5. Stryker nominated Starbucks CFO and Executive Vice President Rachel Ruggeri to its board of directors.
6. Stryker's Pangea systems, including femur, fibula, tibia, humerus and utility, earned FDA 510(k) clearance. The systems were designed by orthopedic surgeons and aim to enhance plate fit and screw placement.
7. Stryker launched the only fully autonomous guidance system in orthopedics, the Ortho Q Guidance system. The surgeon controls the system remotely from a sterile field.
8. At the end of 2023, Stryker closed a facility in Lakeland, Fla., and laid off more than 500 employees.
9. Stryker acquired neurosurgery company Cerus Endovascular, whose portfolio includes multiple CE marked products, which will bolster Stryker's aneurysm treatment business.