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Stryker CEO says firm’s foot and ankle business is taking on likes of Wright Medical & Arthrex

January 9, 2013 2:37 pm by | 0 Comments

The 75 direct sales force dedicated to boost Stryker’s (NYSE: SYKfoot and ankle business unit had a stellar year in 2012, said CEO Kevin Lobo, to a packed room at the J.P. Morgan Healthcare Conference in San Francisco on Wednesday.

The unit had a 40 percent increase in U.S. sales in the fourth quarter.

“If you think about Stryker, we were just above the ‘other’ category in the foot and ankle business a few years ago,” Lobo said. “Based on Q4 and I haven’t seen Wright Medical’s numbers yet, we are breathing down their necks.”

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The unit is a relatively new addition to Stryker’s business units. Lobo said it took a few quarters in the beginning of 2012 to “find our feet” (no pun intended), but in retrospect, it was a smart decision to create a dedicated sales team for the unit.

Now the company has been able to hire sales people away from market leaders like Wright Medical and Arthrex.

“The idea that a sport medicine sales person would come from Wright Medical and Arthrex a few years ago would have been laughable,” Lobo declared.

 Photo Credit: Boxer fron BigStock Photo]

 

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Arundhati Parmar

By Arundhati Parmar

Arundhati Parmar is the Medical Devices Reporter at MedCity News. She has covered medical technology since 2008 and specialized in business journalism since 2001. Parmar has three degrees from three continents - a Bachelor of Arts in English from Jadavpur University, Kolkata, India; a Masters in English Literature from the University of Sydney, Australia and a Masters in Journalism from Northwestern University in Chicago. She has sworn never to enter a classroom again.
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