Stryker Corp. CEO says company has 'appetite' for more acquisitions (Michigan Live)
Stryker Corp. (download 4-page analysis of Stryker HERE) President and CEO Kevin Lobo said the Kalamazoo-based medical device company is looking to purchase more companies.
Lobo and key executive leaders gave a presentation for investors at the Bank of America Merrill Lynch 2013 Health Care Conference on Wednesday morning. The presentation addressed how various risks and uncertainties will impact the company’s year-end projections.
The medical device company reported reconstructive knee and medical surgery instruments sectors continue to be the company’s largest drivers for growth, with more than 65 percent of sales in the U.S. market.
Lobo also detailed the importance of acquiring Orthovita Inc. bone graft materials in 2011 and Surpass, a Tel Aviv, Israel-based stent technology company, in 2012. Earlier this year, Stryker completed the $764 million purchase of Trauson Holdings Company Limited, one of the fast growing companies in the Chinese orthopaedic market.
Lobo confirmed earnings growth projections ranging from 3 to 5 percent in 2013 but said foreign exchange rates will have a greater impact ...
