Stryker Corporation is an American multinational medical technologies corporation based in Kalamazoo, Michigan. Stryker’s products include implants used in joint replacement and trauma surgeries; surgical equipment and surgical navigation systems; endoscopic and communications systems; patient handling and emergency medical equipment; neurosurgical, neurovascular and spinal devices; as well as other medical device products used in a variety of medical specialties.
The Orthopedic Frame Company, the precursor of Stryker Corporation, was formed in 1941 by Dr. Homer Stryker, a Kalamazoo, Michigan, orthopedist and a 1925 graduate of the University of Michigan Medical School. Stryker developed the Turning Frame, a mobile hospital bed that allowed for repositioning of injured patients while providing necessary body immobility; the cast cutter, a cast cutting apparatus that removed cast material without damaging underlying tissues; and the walking heel, among others. In 1964, the company name was officially changed to Stryker Corporation.
In the United States, most of Stryker’s products are marketed directly to doctors, hospitals and other healthcare facilities. Internationally, Stryker products are sold in over 100 countries through company-owned sales subsidiaries and branches as well as third-party dealers and distributors.
Orthopedic device companies have been especially hard-hit during the COVID-19 pandemic as hospitals and patients alike held off on elective procedures. But despite new headwinds from the latest coronavirus wave, Stryker appears to have weathered the tough times better than its competitors. Sales ticked down –3.6%, to $14.351 billion, for all of 2020.
“In spite of COVID-19 outbreaks that intensified through the quarter, our teams showed good resilience and delivered a solid quarter of financial results,” Stryker CEO Kevin Lobo said in a news release.
According to massdevice.com; medicaldesignandoutsourcing.com; en.wikipedia. Source of photo: internet