Mako's Q4 turnaround has Stryker feeling confident (MassDevice)
With 20 placements of Mako's surgical robots in the final quarter of 2014, Stryker CEO Kevin Lobo is confident in the $1.7 billion acquisition – and in Stryker's ability to integrate future acquisitions.
Stryker (NYSE:SYK) posted a stellar quarter of sales for the robotic surgical system it acquired in its $1.7 billion deal for Mako Surgical.
The Kalamazoo, Mich.-based orthopedic giant said this week that it placed 20 Mako systems into hospitals during the 3 months ended Dec. 31 – a 150% increase over Q3 and more than were sold during the previous 3 quarters combined.
CEO Kevin Lobo told investors at the J.P. Morgan Healthcare Conference in San Francisco this week that it was the highest number systems Mako ever sold in a single quarter, including prior to Stryker acquisition.
"Obviously, we had some troubles in the earlier part of our integration. In the 1st quarter we sold 2 robots, then 6, then 8, then 20 in the 4th quarter," Lobo said at the conference. "So we feel very good about the momentum that we've built."
Lobo said the company also re-located an undisclosed number of systems that were in less than ideal loca...
