nyse syk s & p 500 component industry medical technology founded 1946 founder homer stryker headquarters kalamazoo michigan u.s.a. key people john w. brown chairman emeritus kevin a. lobo president & chief executive officer products medical devices orthopaedic implants surgical equipment neurovascular products patient handling and emergency medical equipment revenue 9.021 billion usd 2013 operating income 1.741 billion usd 2012 number of employees approx . 22 000 12 31 12 website www.stryker.com stryker corporation is a fortune 500 medical technologies firm based in kalamazoo michigan . stryker s products include implants used in joint replacement and trauma surgeries ; surgical equipment and surgical navigation systems ; endoscopic and communications systems ; patient handling and emergency medical equipment ; neurosurgical neurovascular and spinal devices ; as well as other medical device products used in a variety of medical specialties . in the united states most of stryker s products are marketed directly to doctors hospitals and other healthcare facilities . internationally stryker products are sold in over 100 countries through company owned sales subsidiaries and branches as well as third party dealers and distributors . contents 1 business segments 2 history 2.1 john brown 3 corporate governance 4 recent acquisitions 4.1 1998 2010 4.2 2011 today 4.3 acquisition history 5 sponsorships 6 regulatory controversies 7 references 8 external links business segments edit stryker segregates their reporting into three reportable business segments reconstructive medical and surgical and neurotechnology and spine . reconstructive products consist primarily of implants used in hip and knee joint replacements and trauma and extremities surgeries . medsurg products include surgical equipment and surgical navigation systems instruments ; endoscopic and communications systems endoscopy ; patient handling and emergency medical equipment medical ; and reprocessed and remanufactured medical devices as well as other medical device products used in a variety of medical specialties . stryker neurotechnology and spine products include a portfolio of products including both neurosurgical and neurovascular devices . their neurotechnology offering includes products used for minimally invasive endovascular techniques as well as a line of products for traditional brain and open skull base surgical procedures orthobiologic and biosurgery products including synthetic bone grafts and vertebral augmentation products as well as minimally invasive products for the treatment of acute ischemic and hemorrhagic stroke . stryker also develops manufactures and markets spinal implant products including cervical thoracolumbar and interbody systems used in spinal injury deformity and degenerative therapies . 1 history edit the orthopedic frame company the precursor of stryker corporation was formed on february 20 1946 by dr. homer stryker a kalamazoo michigan orthopedist . stryker developed the turning frame a mobile hospital bed that allowed for repositioning of injured patients while providing necessary body immobility ; the cast cutter a cast cutting apparatus that removed cast material without damaging underlying tissues ; and the walking heel among others . in 1964 the company name was officially changed to stryker corporation . 2 in 1979 stryker made an initial public offering of stock and later acquired osteonics corporation entering the replacement hip knee and other orthopedic implants market stryker . in 1999 annual sales reached 2.1 billion and in 2000 stryker was included in the s & p 500 and the forbes platinum 400 for the first time . in 2002 sales reached 3.0 billion and stryker was listed in the fortune 500 for the first time . in 2003 stephen p. macmillan joined stryker as president and ceo . in 2005 annual sales reached 4.9 billion and john w. brown transitioned to the single role of chairman of the board a role he retired from in 2010 3 while steve macmillan became president & ceo . by 2007 stryker sold its physiotherapy associates division to private equity firm water street healthcare partners for 150 million . in february 2012 mr. macmillan resigned and curt r. hartman was named interim chief executive officer and vice president and chief financial officer . mr. william u. parfet was named non executive chairman of the board . on october 1 2012 mr. kevin a. lobo was appointed as president and chief executive officer . at the end of 2012 stryker had approximately 22 000 global employees and annual sales of 8.7 billion . 35 % of those sales were outside the u.s. stryker roll in stretcher in a 2012 global market overview of top medical technology firms stryker was ranked number 10 with total portfolio sales in excess of 8.6 billion . moreover the firm maintains 35 % worldwide reconstructive market share ; 50 % worldwide medsurg market share ; 15 % worldwide neurotechnology and spine market share . 4 the company was recognized by hermann simon as a role model for other small to medium sized business in his book hidden champions . 5 john brown edit brown served as president ceo and finally chairman of the board across a 32 year career with stryker . 3 one report attributes stryker s rise from a maker of hospital beds to a world class medical technology company to brown . 3 as of 2013 update brown s retained investment in stryker placed him on the forbes 400 list with a net worth of us 1 500 000 000 . 3 corporate governance edit as of 2014 members of the board of directors of stryker corporation are 6 kevin a. lobo chairman president & ceo william u. parfet lead independent director howard e. cox jr. srikant m. datar ph.d. dr. roch doliveux louise l. francesconi allan c. golston andrew silvernail ronda e. stryker recent acquisitions edit 1998 2010 edit in 1998 stryker purchased howmedica the orthopaedic division of pfizer for 1.65 billion . howmedica became stryker orthopaedics . in august 2000 stryker acquired with stock guided technologies inc. a developer and manufacturer of optical localizers purposed for use in healthcare and industrial . 7 in august 2004 stryker acquired for 120 million spinecore inc. a company involved in the development of artificial spinal disks . about two years preceding this date in june 2002 the firm acquired the spinal implant business of surgical dynamics inc. for 135 million . in march 2006 stryker absorbed the haifa israel based sightline technologies ltd. into its operations . sightline a manufacturer of gastrointestinal endoscopy apparatuses propelled stryker into the flexible endoscopy market . in february of the same year the firm acquired etrauma.com corp. a privately held entity involved in the development of software for picture archiving and communication system pacs ; the company was incorporated into stryker endoscopy business . december 2005 marked the company s acquisition of plasmasol corp. for 17.5 million . plasmasol produces technologies allowing sterilization of various medsurg equipments . in 2009 stryker acquired ascent healthcare solutions inc. the market leader in the reprocessing and remanufacturing of medical devices in the u.s. 2011 today edit in jan 2011 stryker acquired the neurovascular division of boston scientific which includes products used for the minimally invasive treatment of hemorrhagic and ischemic stroke . in june 2011 stryker purchased malvern pennsylvania based orthovita a biomaterials company specializing in bone augmentation and substitution technologies . the orthovita business now makes up the stryker orthobiologics division which specializes in biomaterials for all stryker divisions . 8 in july 2011 stryker completed the acquisition of privately held memometal technologies s.a. . france based memometal develops manufactures and markets products for extremity indications based on its proprietary methods for preparing and manufacturing a shape memory metal alloy . 9 in august 2011 stryker signed a definitive agreement to acquire privately held concentric medical inc. in an all cash transaction for 135 million . concentric s products include devices for the removal of thrombus in patients experiencing acute ischemic stroke along with a broad range of ais access products . 10 in november 2012 stryker acquired the tel aviv israel based surpass medical ltd. a company developing a flow diversion stent technology to treat brain aneurysms using a mesh design and delivery system for 135 million . 11 in march 2013 stryker acquired trauson holdings company limited . trauson is a trauma manufacturer in china and a major competitor in the spine segment . 12 in december 2013 stryker acquired mako surgical corporation . mako is a company in south florida that manufactures and markets surgical robotic arm assistance platforms most notably the rio robotic arm interactive orthopedic system as well as orthopedic implants used by orthopedic surgeons for use in partial knee and total hip arthroplasty . 13 stryker also acquired patient safety technologies inc. the company offers safety sponge system an integrated counting and documentation system that prevents surgical sponges and towels from being unintentionally left in patients after surgical procedures 14 in march 2014 stryker acquired pivot medical inc. pivot is a privately held business selling innovative products for hip arthroscopy with operating facilities in sunnyvale ca. 15 in april 2014 stryker acquires berchtold holding ag berchtold a provider of customer centric healthcare equipment for over 90 years . berchtold s product portfolio includes surgical tables equipment booms and surgical lighting systems geared towards maximizing efficiency and safety in operating rooms and icus . 16 on july 1 2014 stryker corp. announced that it had agreed to buy the assets of small bone innovations inc. a morrisville pa . based company that specializes in products that help surgeons treat and replace small bones and joints for 358 million . 17 the company also acquired patient safety technologies for 120 million . in september 2015 stryker acquired turkish company muka metal a.s. which is manufacturing hospital beds and patient furniture in kayseri . 18 in february 2016 the company announced it would acquire sage products for 2.8 billion . 19 later in the same month the company announced the acquisition of physio control international from bain capital private equity for 1.28 billion . 20 acquisition history edit the following is an illustration of the company s major mergers and acquisitions and historical predecessors this is not a comprehensive list stryker corporation stryker corporation est 1946 as the orthopedic frame company osteonics corporation howmedica acq 1998 guided technologies inc. sold 2007 spinecore inc. water street healthcare partners physiotherapy associates div ; sold 2007 surgical dynamics inc. spinal implant div ; acq 2002 spinecore inc. acq 2004 plasmasol corp. acq 2005 sightline technologies ltd acq 2006 etrauma.com corp. acq 2006 ; incorporated into stryker endoscopy div water street healthcare partners physiotherapy associates div ; sold 2007 ascent healthcare solutions inc. acq 2009 boston scientific neurovascular div ; acq 2011 orthovita acq 2011 ; incorporated into stryker orthobiologics div memometal technologies s.a. acq 2011 concentric medical inc. acq 2011 surpass medical ltd acq 2012 trauson holdings company limited acq 2013 mako surgical corporation acq 2013 patient safety technologies acq 2013 pivot medical inc. acq 2014 berchtold holding ag acq 2014 small bone innovations inc. acq 2014 sage products acq 2016 physio control international acq 2016 sponsorships edit stryker maintains relationships with but not limited to the following professional and trade organizations 21 the advanced medical technology association advamed the medical devices manufacturing association mdma the orthopedic research and education foundation oref national electrical manufacturers association nema european federation of national associations of orthopaedics and traumatology efort international society of orthopaedic surgery and traumatology sicot international society of arthroscopy knee surgery and orthopaedic sports medicine isakos foundation for orthopaedic trauma ; speaking of women s health arthritis foundation and american academy of orthopaedic surgeons aaos association of perioperative registered nurses aorn american orthopaedic society for sports medicine aossm additionally the following athletes publicly endorse stryker orthopaedics products johnny bench 22 fred funk 23 regulatory controversies edit on jan 27 2000 stryker corporation restated its operating results for the year ended december 31 1998 to reduce acquisition related charges by 30.9 million . 24 since early 2007 the company has received three warning letters from the food & drug administration citing issues in compliancy . 25 26 the first of these a seven page correspondence named various issues at an irish