In response to Zimmer's $13.4 billion bid for Biomet, rumor has it that Stryker will snatch up the other relatively small orthopedics player, the U.K.'s Smith & Nephew.
A comparative study found that treatment of stroke using stent thrombectomy devices manufactured by Covidien and Stryker is twice as effective as treatment using medication alone.
Since acquiring OtisMed in 2009, Stryker has been facing allegations from the U.S. Department of Justice (DOJ) that the company and its former chief executive officer illegally distributed knee replacement surgical devices after the FDA refused to approve the product. Now, Stryker and OtisMed have agreed to pay more than $80 million to resolve the DOJ case, laying criminal and civil complaints to rest.
A U.K. law successfully thwarts overly aggressive acquisition deals from taking large bites out of the medical device industry in the country.
The clock is about to strike 6 months since Stryker expressed interest in acquiring Smith & Nephew, only to be dissuaded by a rise in that company's stock price once news of the potential deal broke out. And so begins the speculation that Stryker will actually make a bid on the fellow orthopedics company this time around.
Stryker has agreed to shell out at least $4.38 billion to settle more than 4,000 lawsuits alleging the medical device giant sold faulty metal hip implants that hurt patients.
Stryker took an earnings hit during the third quarter, in part to repatriate $2 billion in cash for acquisitions and to establish an EU regional headquarters in Amsterdam, where it has moved some intellectual property. The IP transfer is expected to reduce its effective tax rate from an expected 22% in 2014 to 20% next year.
Tela Bio, a Pennsylvania-based surgical reconstruction startup in stealth mode, raised $45.4 million from 29 investors, according to an SEC filing.
Spinal device specialist NuVasive said it's third in the spinal device market and is aiming now for second place along with more than $1 billion in annual revenue. Wall Street ate up that news, along with an earnings beat and raised guidance, and chased the stock up 10% in early trading on June 30.
Stryker delivered positive second quarter numbers buoyed by acquisitions in domestic and foreign markets, but the company remains tepid on the subject of corporate inversions as a way to boost profit.