MedReps.com surveyed 1,400 members of the site’s community, who currently work or recently worked in medical sales, to determine which companies are the best to work for overall. Best medical device company: Medtronic. Stryker and Johnson & Johnson ranked second and third. Best pharma company: Johnson & Johnson. Pfizer and Eli Lilly ranked second and […]
Stryker Corp.’s OtisMed unit will pay $80 million in fines because the division distributed its knee replacement surgery devices without regulatory approval in 2009. Stryker said in a statement that the DOJ acknowledged that OtisMed’s criminal conduct “occurred prior to Stryker’s acquisition of OtisMed and without Stryker’s prior knowledge or acquiescence.” Bloomberg says: OtisMed will pay a fine of $34.4 million […]
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Stryker (SYK) will acquire MAKO Surgical Corp. to the tune of about $1.65 billion. “MAKO has established a compelling technology platform in robotic assisted surgery which we believe has considerable long term potential in joint reconstruction,” said Kevin A. Lobo, Stryker president and CEO, said in the release. “The acquisition of MAKO combined with Stryker’s strong […]
Zimmer Holdings, Inc. (ZMH) may have gone down swinging in its most recent courtroom drama with Stryker, but the orthopedics giant may be set to prop itself back up. The FDA gave the Warsaw, Ind.-based company 510(k) clearance for the Patient Specific Instrument Shoulder system. The clearance is to work hand-in-hand with another Zimmer device–the […]
They say imitation is the best form of flattery. In announcing that it was buying Chinese orthopedics company Trauson Holdings Company Limited, Kalamazoo, Michigan-based Stryker (NYSE:SYK) is following in the footsteps of medical device heavy weight Medtronic. Barely four months ago, the Minnesota medical device maker announced that it was buying Kanghui Holdings, which described […]
The 75 direct sales force dedicated to boost Stryker’s (NYSE: SYK) foot 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 […]
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Just one month ago, Kevin Lobo took over the top spot at medical device maker Stryker Corp. (NYSE:SYK) On Monday, he explained the $8.5 billion corporation’s innovation strategy moving forward in his first public appearance as CEO at Cleveland Clinic’s Medical Innovation Summit. Formerly president of J&J company Ethicon Endo-Surgery and then head of Stryker’s […]
Stryker issued an urgent medical device recall notice Tuesday noting that it was expanding the recall to newer models of a waste management product recalled previously because it was selling those products without the necessary regulatory clearance. The recall of the Neptune Rover Waste Management System appears to be a worldwide recall. The devices are […]
Stryker announced Monday that the U.S. Food and Drug Administration has cleared a clot removal device to treat patients experiencing acute ischemic stroke. Ischemic strokes are caused by blocked arteries and constitute the overwhelming majority of strokes, according to the Mayo Clinic. The Trevo Pro Retrieval System performed better than Merci Retrieval, made by Concentric […]
UPDATE: Stryker has provided a response to the FDA decision: Stryker is pleased to announce that we received communication from FDA concluding their review of the Wingspan® Stent System and Gateway PTA Balloon Catheter (Wingspan Stent System) and having determined that the Wingspan Stent should remain available for those patients who have failed to […]
Healthcare payments are no longer about transactions. It’s about controlling the revenue cycle. And increasingly, that control is not sitting with ISOs.
Talk about convergence. A health company that’s working in the implantable devices, surgical devices and health IT markets is hoping to improve orthopedic implant placement and performance with its pipeline of smart devices and implants. OrthoSensor Inc. says it will expand the commercialization of its first product, the OrthoSensor Knee Balancer, and work toward launching […]
The Patient Protection and Affordable Care Act (ACA) includes a new 2.3% tax on the U.S. sale of medical devices beginning in 2013. The tax was included to raise $20 billion in revenue to partially offset the cost of the new, $1 trillion health program. The 2.3 percent tax is imposed on revenue, not profits, […]
Synthes is back in court, this time as the plaintiff in a lawsuit against Stryker Corp. (NYSE: SYK) accusing the Michigan-based medical device company of trying to obtain “an improper competitive advantage.” The complaint, filed in federal court in Philadelphia, also singled out three former sales staff from Synthes’ San Francisco sales unit who resigned from […]
A federal study of a new stent designed to prevent repeat strokes was stopped early because 2 1/2 times (14.7%) more people either died or had a repeat stroke after receiving the stent than those who received drugs and counseling (5.8%). The $20 million study, stopped after just 451 stroke victims had been enrolled because […]
Stryker Corp.’s (NYSE:SYK) coffers look significantly thinner these days, after the company blew through about 71 percent of its cash and cash equivalents during the first half of 2011 on acquisitions. The Kalamazoo, Mich.-based medical device maker, which started out 2011 with $1.76 billion in cash and cash equivalents now has just under $500 million […]