A Message from Stryker Chairman
John W. Brown
By all measures, 2008 was a momentous year. The world economy tumbled into a deep recession. Fear gripped Wall Street, Main Street, Washington, D.C. and the capital of every other major country in the world. Credit sources shut down and consumers limited their purchasing to the bare essentials. Stryker’s market cap was cut almost in half, and it appears that it may take some time for the economies and our stock to completely recover.
Yet, we believe there is cause for optimism for the world and the U.S. economies, for the medical device industry and, importantly, for your Company. Why? We see tremendous desire for change and improvement, both to restore world economies, as well as to improve each individual’s health. This is particularly true at Stryker. Our products and our services play a vital role in helping medical professionals provide life-enhancing healthcare to the world’s population. From the emergency room, to the operating room and to the recovery room, you will find Stryker products in use. And, we continually work to make them better.
Yes, there will be pressures on the medical device market from payors and regulators, but demographic trends and the desire of the world’s clinical community to restore the lifestyles of their patients will drive ongoing demand. Stryker has one of the most desirable and broadly based lineups of products and services in our industry. We also have one of the strongest leadership teams and over 17,000 highly talented and dedicated employees. We fully expect to be successful and that this success will be reflected in the price of our stock over time.
As the Wall Street expression goes, “I am still long on Stryker.”
John W. Brown
Chairman of the Board