Stryker plans ‘very active’ M&A, ortho robot launches in 2H (MedTechDive)
After another record quarter of orthopedic robot installations, CEO Kevin Lobo hinted at a potential interest in soft tissue robots.
Q2 revenue: $5.42 billion = 8.5% increase year over year
Net income: $825 million = 11.8% increase year over year
Stryker set another record in the second quarter for installations of its Mako orthopedic robot, ahead of two planned launches of spine and shoulder features later this year.
“As you’ve seen, quarter after quarter, our Mako installations are very high. That leads to future strong demand for hips and knees,” Stryker CEO Kevin Lobo told investors on Tuesday.
This is the third quarter in a row where management has noted record installations, BTIG analyst Ryan Zimmerman said in a research note.
The results drove more than 14% sales growth in Stryker’s “other orthopedics” segment to $136 million.
Stryker also announced on Tuesday that it received FDA clearance for new software for its Q Guidance System for spine surgeries. The technology provides auditory and sensory alerts when a surgeon approaches planned anatomical boundaries dur...
