|Stryker Announces Definitive Agreement to Acquire Patient Safety Technologies, Inc. for $120 Million
|Stryker announced a definitive agreement to acquire Patient Safety Technologies, Inc. (PSTX) for $2.22 per share, with an aggregate purchase price of $120 million. Patient Safety Technologies conducts its business through its wholly owned subsidiary, SurgiCount Medical, Inc. The company's proprietary Safety-Sponge® System and SurgiCount 360(TM) compliance software help prevent Retained Foreign Objects (RFOs) in the operating room, thereby improving patient safety and reducing healthcare costs. The System includes bar-coded surgical sponges and towels, an integrated barcode scanner, and compliance tracking software. 2013 actual revenue through nine months are $14.9 million.
|Stryker Receives FDA Clearance for Waste Management System
|Stryker announced that its Instruments division has received 510(k) clearance for the Neptune 2 Waste Management System from the U.S. Food and Drug Administration (FDA). The Neptune 2 Waste Management System minimizes risk to healthcare workers by eliminating harmful exposure to fluids and smoke in the operating room. This constantly closed system collects and disposes of surgical waste without operator assistance to prevent contact with infectious fluids and surgical plumes.
|Stryker Completes Acquisition of MAKO Surgical Corp.
|Stryker announced the completion of its previously announced acquisition of MAKO Surgical Corp., a pioneer in the advancement of robotic arm assisted surgery in orthopaedics. "We're excited to welcome MAKO into our organization and combine their expertise in robotic arm assisted surgery with Stryker's innovations in joint reconstruction to further advance the growth of this compelling technology. The long-term potential offered by this technology platform holds the promise of transforming reconstructive surgery, increasing patient satisfaction and enhancing the experience for surgeons and hospitals," said Kevin A. Lobo, President and Chief Executive Officer.
|IMRIS and Stryker are working to combine efforts to offer auto-registration with surgical navigation in VISIUS iCT & iMRI surgical theaters
|Workflow will be streamlined in navigated spinal and cranial procedures performed in advanced intraoperative imaging suites IMRIS Inc. ("IMRIS") and Stryker Corporation ("Stryker") today announced a non-exclusive collaboration between Stryker's automatic image registration for spinal and cranial navigated procedures and VISIUS® iCT and VISIUS iMRI surgical suites from IMRIS. "Having these tools work together is an exciting opportunity for surgeons utilizing intraoperative CT and MRI in our VISIUS® Surgical Theatres. This open platform collaboration aligns squarely with our goal of providing state-of-the-art imaging at the point of therapy," said Jay D. Miller, IMRIS President and CEO. "We are excited to partner with IMRIS to bring streamlined surgical solutions into integrated CT and MRI capable operating rooms. IMRIS shares our open platform philosophy and we believe that through this partnership we will improve the surgeon experience," said Jim Marucci, Stryker Navigation General Manager.
|EIZO and Stryker Announce Partnership in Integrated Large Monitor Management Systems for Operating Rooms
|EIZO Corporation and Stryker Corporation have announced their partnership to offer customers integrated large monitor management systems suitable for use in standard and hybrid operating rooms. As a result of this partnership, EIZO will provide large monitors that can display multiple video sources simultaneously in conjunction with Stryker integrated operating suites.
|Stryker Announces Definitive Agreement to Acquire MAKO Surgical Corp. for $1.65 Billion
|Stryker announced a definitive agreement to acquire MAKO Surgical Corp. with an aggregate purchase price of approximately $1.65 billion. Founded in 2004, MAKO has pioneered the advancement of robotic assisted surgery in orthopedics. MAKO currently markets the RIO® Robotic Arm Interactive Orthopedic System and RESTORIS® family of implants to enable its flagship MAKOplasty Partial Knee Resurfacing procedure for the treatment of early to mid stage osteoarthritis. More recently, MAKO expanded its product offering to include the MAKOplasty Total Hip Arthroplasty, a new robotic arm application for patients in need of a total hip replacement. "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, President and Chief Executive Officer. "The acquisition of MAKO combined with Stryker's strong history in joint reconstruction, capital equipment (operating room integration and surgical navigation) and surgical instruments will help further advance the growth of robotic assisted surgery. Our combined expertise offers the potential to simplify joint reconstruction procedures, reduce variability and enhance the surgeon and patient experience. We look forward to welcoming the MAKO team to Stryker."
|Hal Sutton Becomes Spokesperson for Stryker Orthopaedics
|Hal Sutton continues Golf career on Champions Tour after total hip replacement surgery with Stryker’s Mobile Bearing Hip™ System. Stryker Corporation’s Orthopaedics Division today announced that Hal Sutton, professional golfer and PGA Tour Champion (1983), has become a spokesperson for the company and will help educate consumers about hip replacement surgery. A 32-year veteran of the sport and current member of the Champions Tour, Sutton underwent a total hip replacement and received Stryker’s Mobile Bearing Hip in October 2012.
|Reflections on the State of Health Care Sustainability
|Stryker’s Sustainability Solutions President, Brian White is interviewed by publication DOTmednews. Being in the business of third-party SUD reprocessing, Stryker has long been involved in helping support the advancement of hospital sustainability initiatives. In the early days, sustainability in health care wasn’t easy — it required substantial investment and lacked the visibility provided by other initiatives within the hospital. Thanks, in part, to organizations like Practice Greenhealth and the dedication of forward-thinking health systems and suppliers, there has been a dramatic shift in attitudes toward economic and environmental stewardship. Today, health care sustainability is a top priority for most leading hospitals and health systems. Many of the initiatives being pursued, including reprocessing, are helping providers contain costs. Read the full article at DOTmed.com
|A Graves New World In Healthcare?
|With the launch of Stryker's new Prime TC wheelchair last week, the creative partnership of medical technology company Stryker and architect Michael Graves took the next step in Graves’ mission to improve healthcare design. The Prime TC certainly looks “Gravesian”—simple lines, rounded forms, almost playful (if you can say that about a wheelchair). The chair is designed to be more comfortable and user-friendly, as well as very durable. Graves and Stryker kicked off their partnership with an announcement at the 2009 Healthcare Design Conference, where Graves delivered a keynote that included his assessment of the healthcare facility landscape in the aftermath of an infection that left him paralyzed from the chest down in 2003. Kudos to Graves for continuing his mission—and kudos to the countless other architects, designers, and owners doing the same. Read the full article in HealthCare Design.
|Maximize Your Reprocessing Program
|American Nurse Today features an article by Caryn Humphrey RN, BSN, MBA and Product Manager at Stryker's Sustainabilty Solutions. One way to safely generate cost savings with almost no up-front investment and minimal disruption to operations is through a third-party reprocessing program. Third-party reprocessors are regulated by the U.S. Food and Drug Administration (FDA) and held to the same standards as original equipment manufacturers of single-use medical devices (SUD). A reprocessed SUD is an original device that has previously been used on a patient and has been subjected to additional processing and manufacturing for the purpose of an additional single-use on a patient. Reprocessed SUDs are cleaned, remanufactured, sterilized, and repackaged for re-use. With FDA oversight of reprocessing standards, acceptance of high-quality reprocessed medical devices has increased significantly. To maximize effectiveness and to ensure your third-party reprocessing program provides the most benefits, suggestions are given in this article.
|Optimize Your Reprocessing Program For Better Results - Stryker's Sustainability Solutions
|Over the past two decades, reprocessing has transitioned from an emerging trend in healthcare to a widely regarded, increasingly standard practice in hospitals across the nation. In the future, the prevalence of reprocessing programs will continue to grow. More hospitals will implement—and refine—programs of their own to reduce costs and reallocate funds to support quality of care initiatives. Many of the best hospitals in the country reprocess, including the majority of the U.S. News & WorldReport “Honor Roll Hospitals,” and have realized significant savings as a result. Reprocessing has gained popularity as a preeminent sustainability initiative for numerous reasons. First and foremost, there is a high level of confidence in the safety and efficacy of reprocessed single-use devices (SUDs). They undergo a rigorous process of testing and inspection to ensure substantially equivalent performance to the original device, while adhering to FDA regulated manufacturing process controls. Second, a reprocessing program can provide significant cost-savings that enable healthcare institutions to stretch limited financial resources. Supply cost savings from reprocessing allows hospital administrators to redirect funds toward initiatives that could improve patient care, such as hiring healthcare providers or purchasing new technologies that improve clinical outcomes. Read more about reprocessing in Surgical Products publication featuring Brian White, Stryker's Sustainability Solutions President.
|BroadcastMed Launches Stryker Endoscopy Education Channel
|ORLive.com, BroadcastMed’s surgical broadcasting website, is proud to present the launch of Stryker Endoscopy’s Video Education Channel. Stryker Endoscopy’s Educational Channel will feature endoscopic training programs in gynecology, orthopaedics, and general surgery. Highlighted procedures include a MiniLap Hysterectomy, a Hip Arthroscopy, and a MiniLap Cholecystectomy. In addition, a Training Calendar is available to view all upcoming Stryker training opportunities. Stryker’s innovative endoscopy equipment has set a new standard in the operating room. Stryker was the first to combine voice activation, infrared technology and high-definition video to give surgeons greater control and patients better outcomes. Their intuitive, ergonomic endoscopy tools make surgery easier and more efficient than ever before.
|PGA Tour Champion Fred Funk Partners with Stryker and Fisher House Foundation
|Stryker announces a new program that supports our nation’s military families through the purchase of the Stryker hat Fred Funk wears on Tour with 100% of the net proceeds going to charity. Fred Funk, one of the most recognizable names and personalities in professional golf, is partnering with Stryker and Fisher House Foundation to help support our military families by making the same Stryker GetAroundKnee™ hat that he wears on tour available for golf fans. For every hat purchased Stryker will donate 100% of the net proceeds directly to the Fisher House Foundation to support our injured or sick military veterans and their families. Fisher House is a non-profit organization that provides a home away from home that enables family members to be close to a loved one during hospitalization for an illness, disease or injury. Hats may be purchased by visiting www.getaroundknee.com or at this link.
|Stryker Announces the Launch of the ES2™ Spinal System
|Stryker announces the launch of the ES2 Spinal System. The ES2 system is built on Stryker’s trusted Xia 3 pedicle screw technology, which has been used in approximately 500,000 cases worldwide. ES2’s streamlined implant and instrument design allows for one-step, percutaneous placement of the screw and retractor, providing surgeons with the efficiency, simplicity and security they desire during minimally invasive procedures. Dr. Jeffrey Roh, Orthopedic Surgeon and Director of the Seattle Minimally Invasive Spine Center in Seattle, Washington, commented that, “the ES2 implant has built-in reduction capabilities, integrated blades and an anatomically designed thread pattern that has given me a well-rounded system to use in MIS cases. With ES2, I am confident that my patients are receiving the highest quality products that allow me to provide excellent outcomes both during and after their surgery.”
|Stryker Introduces the ICONIX™ All Suture Anchor Platform
|Stryker announces the launch of the ICONIX™ a new all suture technology that offers a sophisticated approach to shoulder and hip Arthroscopy procedures. The all suture based system allows for less bone removal during pilot hole creation without compromising pull-out strength. The innovative design is truly the first of its kind.
|Stryker Launches the Universal SMARTLock™ Hybrid MMF System
|Stryker announces the global commercial launch of the Universal SMARTLock™ Hybrid MMF system. The Universal SMARTLock™ Hybrid MMF system combines elements of both arch bars and MMF screws in an effort to bring the standard of care for maxillomandibular fixation (MMF) techniques into the 21st century. In collaboration with inventor Jeffrey R. Marcus, MD, FAAP, FACS, Associate Vice-Chair of Surgery at Duke University, the Universal SMARTLock™ Hybrid MMF system is designed to combine the strength and rigidity of arch bars with the safety and efficiency of MMF screws. “The Universal SMARTLock™ Hybrid MMF system is easy to apply, comfortable for the patients, and can impressively increase a surgeon’s efficiency,” said Michael D. Turner, DDS MD FACS, Associate Director of Oral & Maxillofacial surgery at Beth Israel and Jacobi Medical Center.
|Stryker Completes Acquisition of Trauson Holdings Company Limited
|Stryker completes its previously announced voluntary general offer to acquire Trauson Holdings Company Limited (Trauson). Trauson is the leading trauma manufacturer in China and a major competitor in the spine segment. "With the acquisition of Trauson, we are well positioned to broaden our presence in China and to expand into the fast growing value segment of the emerging markets. We look forward to building on the company's long history of success," said Kevin A. Lobo, President and Chief Executive Officer. h in China and other emerging markets for years to come,” said Kevin A. Lobo, President and Chief Executive Officer.
|Stryker announces offer to acquire Trauson Holdings Company Limited
|Stryker will make a voluntary general offer to acquire all the shares of Trauson, the leading trauma manufacturer in China and a major competitor in the spine segment. With this acquisition, Stryker will expand its presence in a key emerging market with a product portfolio and pipeline that is targeted at the large and fast growing value segment of the Chinese orthopaedic market. “The acquisition of a leading player in the Chinese trauma and spine market underscores our commitment to strengthening our presence globally. With its research and development expertise, manufacturing capabilities and strength of its distribution network, Trauson is a compelling opportunity for Stryker to drive growth in China and other emerging markets for years to come,” said Kevin A. Lobo, President and Chief Executive Officer.
|Hospital bed manufacturers tackle safety and comfort concerns - New technology helps patients rest easy
|Major hospital bed manufacturers, including Stryker, offer beds that communicate with health care information systems and have plans for further advancements. Stryker’s solutions include beds with an open platform, wired or wireless options, scalable architecture for future upgrades and the ability to integrate into existing systems. Stryker also delivered the IsoGel Air system to the market. The system provides pressure redistribution and shear management, decreasing the chance for some of the common ailments impacting bed-ridden patients, like pressure ulcers or bed sores. Read the full story in the article on DOTmed Business News.
|Single-use device reprocessing: A rapidly expanding industry, saving money
|Reprocessed devices typically cost 50 percent less than new devices. Some hospitals can save as much as $600,000 annually, according to Brian White, president of Stryker Sustainability Solutions. Read the full story about single-use device reprocessing in this article on DOTmed Business News.